IKEA India and HDFC Bank have collaborated to offer convenient EMI-based financing options to IKEA customers, starting from May 6, 2023. This partnership aims to facilitate affordable purchases of home furnishings.

What Happened? Per a press release shared with Benzinga India, the financing options include a mix of no-cost and low-cost EMIs, with terms ranging from 3 to 30 months, allowing customers to pay for their purchases in instalments.

To access this option, customers need to provide their KYC information to an HDFC Bank representative at IKEA stores. The scheme will soon be available online as well.

Elena Pogosova, IKEA India’s Country Commercial Manager, expressed delight over the partnership. “We understand that buying furniture can be a significant investment, and our aim is to make it affordable and accessible to everyone,” Pogosova said. She views the collaboration as a step towards realizing IKEA’s goal of improving everyday life for many people.

See also: Meta India’s Head of Partnerships Resigns, Fourth Major Exit In A Year

Earlier this year, IKEA announced reduced prices across multiple product categories, including furniture, storage solutions, kitchen accessories, and more, reinforcing its affordability agenda.

The popular Swedish home furnishings company also offers a 5-year limited warranty on various items, including sofa frames and cushions, armchairs, sleeper sofas, and ottomans.

Read next: Coca-Cola Bottler's Sees Series Of High-Level Exits As It Plans To Sell-Off India Business