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Consumer finance

What is consumer finance

At IKEA, we want to ensure that everyone can create a home that matches their style and personality, not just their budget.

With our Finance Services, you can create a home as unique as you are, and there’s always more than one way to pay.

From a particular product to a full renovation, bring your ideas to life with easy finance starting from INR 20,000  onwards and enjoy:

1. No cost and low-cost EMI options   
2. No hidden fees    
3. Divide your purchases into smaller installments of upto 25 months 

There are two ways to avail consumer finance at IKEA:

1. With Credit Card EMI – you can convert your credit card purchase into 3 to 24 months installment plan. It is offered with all major banks.

  • No cost EMI options are available only for 3 and 6 month tenures and is provided by HDFC Bank, Axis Bank, ICICI Bank and SBI. No cost EMI can only be availed for totals more than 20,000 INR and is applicable for B2C customers only.
  • Other tenures across all other banks can also be availed, but with a customer interest bearing mode.
  • No extra paperwork, just insert your card in the terminal and choose from the listed payment plans.

 

2. With Paper Finance – you can take a loan with one of our partners in HDFC Bank and Bajaj Finance.

  • Application process and financing schemes are explained below.
  • Total tenure = Total number of months to calculate the EMI·      
  • Advance EMI = Total number of months for which equivalent amount must be paid upfront·      
  • Net tenure = Total number of months to pay EMI
  • Down payment = Amount paid upfront based on the chosen financing scheme·      
  • Installment = Amount paid as installments each month
  • Interest = Total interest paid by the customer

A simple application process allows you to turn inspiration into reality, in no time at all.

Estimate

Create your shopping list or have a fair idea of the total shopping amount.

Apply

 Look for a bank representative at the store to complete the quick and easy application form and know your eligible credit amount.

Shop

Once approved for a loan amount, choose the financing scheme which works best for you. Accept and sign the loan agreement.

Paper Finance schemes offered at IKEA in co-operation with HDFC Bank & Bajaj Finserv

HDFC Bank

Bajaj Finserv 

  • Total tenure = Total number of months to calculate the EMI·      
  • Advance EMI = Total number of months for which equivalent amount must be paid upfront·      
  • Net tenure = Total number of months to pay EMI
  • Down payment = Amount paid upfront based on the chosen financing scheme·      
  • Installment = Amount paid as installments each month
  • Interest = Total interest paid by the customer

If your purchase is worth 50,000 INR with a 12/4 scheme. Customer pays a downpayment of 16,667 INR upfront to IKEA, and pays an installment of 4,167 INR per month for 8 months to the bank at 0% interest.

If your purchase is worth 50,000 INR with a 12/3 scheme. Customer pays a downpayment of 12634 INR upfront to IKEA and pays an installment of 4,211 INR per month for 9 months to the bank at 1.07% interest.  

*Bajaj Finserv is currently only offered in IKEA Store Hitech City Hyderabad  
* Financial Services is only available in-store

Frequently asked questions (FAQs)