What is the IKEA finance service?

Finance with IKEA

IKEA are the biggest furniture company in the world, which goes without saying. They invented the flatpack, they made Swedish meatballs famous and their big stores of pure stylish delight provide day trips of fun for millions. Everybody loves IKEA.
Though despite its inexpensive prices for many of its products, shopping basket totals can soon add up. What you may not know is that they can actually lend a helping hand when it comes to funding your ideal home.
There are a number of options IKEA can provide which act as a solution to money problems and supplier of interior design dreams.

Finance services

Here are some things IKEA can do to help you spread the cost:

1. Personal loan

Borrow £150 - £1,500
Spread the cost over 12 to 60 months
Fixed payments of £10, £25 or £40 per month
No set-up, arrangement or early settlement fees
APR 19.9%
Example: loan amount £604.30, monthly repayments £25 and one final repayment of £15.93. Total amount payable £765.93. Rate of interest 18.3% fixed

2. Interest-free credit

Representative 0% APR on kitchens
12 months interest-free credit option for over £1500 spend
24 months option for over £3000 spend
If you spend £1500, the kitchen installation service can be added to the 12-month credit agreement
If you wish to include the kitchen installation in the 24-month term there’s a minimum spend of £3000
Some interest-free credit options can also be available in other areas of the store

Credit is provided by Ikano Bank Ab (publ), so IKEA limited acts as a credit intermediary rather than the lender. Finansinpektionen, the regulator of Bank in Sweden, authorises Ikano Bank and is subject to limited regulation by the Financial Conduct Authority.


Am I eligible for IKEA finance?

Subject to status, IKEA finance can be provided to you if you check the following:

· UK resident

· Aged 18 or over

· Valid proof of ID (Current UK credit, debit or store card, full UK driving licence, UK or Eire passport or British Forces ID card)

· Hold a good credit history

· Down payment of £10 required from current UK debit card – deducted from the total purchase price

· A valid debit card which will be used to pay the direct debit payments

Terms and conditions apply.

So, if you had a dream kitchen, bedroom or even an office in mind and feel you can’t afford a large upfront payment to fulfil it, you have the solution. Provided you are eligible, you can live in Swedish-designed comfort and not worry about the cost. Happy shopping!