# Accessible Home Improvement Services IKEA Canada Introduces Payplan by RBC By Kalin Ned | Published 2024-05-22 | Art & Design Source: Trend Hunter, https://www.trendhunter.com/trends/accessible-home-improvement References: [newswire](https://www.newswire.ca/news-releases/ikea-canada-assembles-financial-services-to-help-make-home-improvement-more-accessible-to-the-many-canadians-833649896.html)  In a bid to guarantee accessible home improvement experiences for Canadians, [IKEA](https://www.trendhunter.com/trends/ikea-finland) introduced a new financial service called PayPlan by [RBC](https://www.trendhunter.com/trends/rbc-expands-avion-rewards). This service allows customers to finance their in-store purchases with [flexible payment plans](https://www.trendhunter.com/trends/instore-installment-payment), 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. Image Credit: IKEA Canada ## Trend Insights (Trend Hunter) - Score: 3.9/10 - Popularity: 38% | Activity: 54% | Freshness: 24% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Art & Design](https://www.trendhunter.com/artdesign) > [Home](https://www.trendhunter.com/home) ## Key Themes ### Why This Trend Is Growing - **Flexible Payment Plans:** Flexible payment plans offer consumers the ability to manage large purchases without financial strain, making high-end items more accessible. - **Soft Credit Checks:** Soft credit checks enable instant decision-making for financing, improving the customer experience by removing barriers to immediate approval. - **Interest-free Financing:** Interest-free financing provides a cost-effective borrowing option, encouraging customers to invest in home improvements without incurring additional debt. ### Industries Being Reshaped - **Home Improvement Retail:** The home improvement retail sector benefits from increased customer spending facilitated by accessible financing solutions. - **Financial Services:** Financial institutions can capitalize on offering specialized retail financing products that align with consumer needs for flexible and low-cost borrowing. - **Consumer Electronics:** Consumer electronics retailers can implement similar financing options to boost sales of high-value products by lowering the upfront cost barrier. ## Related on Trend Hunter - [BNPL-Enabled Home Retailers](https://www.trendhunter.com/trends/at-home1.md) - [Accessibility-Focused Furniture Retail Services](https://www.trendhunter.com/trends/ikea-finland.md) - [Bespoke Interior Design Services](https://www.trendhunter.com/trends/interior-design-service.md) - [Expanding Furniture Retailers](https://www.trendhunter.com/trends/order-point.md) - [AI Room Designers](https://www.trendhunter.com/trends/ikea-canada-2.md) - [Allen Key-Inspired Rewards Programs](https://www.trendhunter.com/trends/ikea-family-loyalty-program.md) - [Post-Purchase Payment Features](https://www.trendhunter.com/trends/swipe-to-finance.md) - [Innovative Retail Partnership](https://www.trendhunter.com/trends/best-buy-and-ikea.md) - [Small-Format Furniture Stores](https://www.trendhunter.com/trends/plan-and-order-point.md)