IKEA to Introduce 0% APR Interest-Free Payment Plans with humm finance, Making Dream Homes More Accessible
IKEA today announced its new partnership with humm, a leading provider of retail finance, under which humm will offer IKEA customers a 0% APR interest-free loan. This launch marks one of the first financial products to be offered directly to IKEA Ireland's customers and will meet diverse customer needs and support medium to high-value purchases. This initiative aims to make home furnishing and improvements more convenient for the many people across Ireland, particularly for significant purchases such as kitchens, bedrooms, and living room transformations.
The new 0% APR interest-free loan allows eligible IKEA customers in Ireland to spread the cost of purchases from €99 to €15,000 over flexible repayment terms ranging from 3 to 48 months, depending on the loan amount. Crucially, these loans come with 0% APR as standard for the entire repayment term, with no commission or upfront deposit payable, ensuring complete transparency and control. This commitment reflects humm's dedication to responsible lending; however, customers should be aware that late payment fees may apply.
This initiative is deeply rooted in insights from IKEA's latest Life at Home Report, which reveals a poignant truth: while 36% of people profoundly value enjoyment at home, many face obstacles in achieving it. The report identifies 'improving the home I live in' as a significant driver of this enjoyment. By offering accessible, flexible financing, this partnership with humm directly addresses these barriers, empowering customers to undertake meaningful home improvements to enhance their happiness and wellbeing.
“At IKEA, our purpose is to create a better everyday life for the many people, and our homes are fundamental to our wellbeing. We recognise that investing in significant home projects, like a new kitchen or a complete bedroom overhaul, represents a considerable financial commitment. This 0% APR interest-free loan, now on offer by humm, directly tackles that affordability barrier, enabling more Irish households to craft their home spaces and experience the joy that comes with it. ”
“As a responsible retailer, we are deeply committed to empowering our customers to achieve their goals, and we hope that customers can do this with transparent and manageable financial solutions. That's why we're proud to work with humm to offer 0% APR finance for the entire repayment term, with no upfront deposit required, ensuring customers can make aspirational changes without compromising their financial health. It's about making home improvements attainable in a responsible and transparent manner.”
To further support customers in making financially responsible decisions and navigating their home improvement journey, IKEA has developed the 'Joyful Home Journey Guide'. This comprehensive guide directly addresses the 'waiting game' many customers face, with 36% of people delaying essential home improvements due to cost concerns. The guide offers self-reflection questions to help in understanding the 0% APR interest-free loan from humm, and provides practical budgeting tips, ensuring customers feel supported in making financially mindful choices.
“humm is incredibly proud to unite with IKEA Ireland, to bring an accessible and transparent finance option directly to eligible IKEA customers. We share IKEA's dedication to helping individuals enhance their living spaces. Our 0% APR interest-free finance provide a straightforward and flexible pathway for customers to manage their purchases, giving them peace of mind. With our unwavering focus on responsible lending, we aim to empower more people to achieve their home aspirations through a trusted, clear financial service.”
How can you apply?
Applying for the humm 0% APR interest-free loan is designed to be straightforward and convenient. Customers can apply online via the IKEA Financial Services page on IKEA.ie/finance or through the IKEA app. The application process is swift, with credit checks conducted as required by humm. If approved, customers have 90 days to use their loan. The loan can also cover IKEA services such as delivery and installation, empowering customers to manage repayments easily through the humm online portal, with options for early repayment without penalty.*
For more information about the humm 0% APR interest-free loan available through humm, details of how to apply for the finance product, visit IKEA.ie/finance.
Terms and Conditions
Subject to credit assessment and approval. Terms and conditions (including restrictions on eligibility) apply. humm is underwritten by FlexiFi Europe Limited, Company Number: 600124.
FlexiFi Europe Limited, trading as humm is regulated by the Central Bank of Ireland.
If you do not meet the repayments on your loan agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL loan agreement in the future.