In a bid to guarantee accessible home improvement experiences for Canadians, IKEA introduced a new financial service called PayPlan by RBC. This service allows customers to finance their in-store purchases with flexible payment plans, offering rates as low as 0% APR. The initiative aims to help customers manage their expenses while investing in home furnishings.
Consumers can benefit from this service by spreading the cost of their purchases over a period ranging from 12 to 48 months. The financing option is available for purchases between $1,000 and $10,000, providing a convenient solution for larger expenditures. The application process is straightforward, with immediate decisions made based on a soft credit check that does not impact credit scores.