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Does IKEA Have a Layaway Plan? Everything You Need to Know

IKEA is a globally renowned furniture retailer known for its affordable and stylish offerings. When it comes to purchasing furniture for your home, understanding the payment options available can be crucial. So, does IKEA have a layaway plan?

In this comprehensive guide, we will explore whether IKEA offers a layaway plan, delve into alternative financial services provided, and shed light on the IKEA Projekt credit cards, which offer flexible financing options.

Does IKEA Have a Layaway Plan?

IKEA does not currently offer a layaway plan. Instead, they offer a variety of other payment options for their customers, such as the IKEA Projekt Card. 

This card allows you to finance large purchases over a set period of time, subject to credit approval and other terms and conditions. 

Another option is the IKEA Visa Credit Card, which can be used at IKEA and anywhere else Visa is accepted. While these options require a credit check, they can provide you with flexibility in managing payment for bigger purchases. 

It’s always recommended to fully understand the terms and conditions associated with these types of financial tools to avoid fees or interest charges.

Alternative Financial Services at IKEA

While a layaway plan may not be available, IKEA provides various financial services to ensure that customers can afford their desired purchases. By offering multiple payment options, IKEA makes it easier for customers to bring their desired furniture items home.

Does IKEA Have a Layaway Plan? All You Need To Know

Credit Card Payments

IKEA accepts major credit cards such as Visa, Mastercard, American Express, and Discover. This provides customers with the flexibility to use their preferred credit card for their purchases. 

You can simply swipe or use the chip on your card to complete the transaction at the checkout counter. By offering credit card payments, IKEA ensures that customers have a convenient way to make their purchases.

Digital Payment Methods

In addition to credit cards, IKEA stores also accept digital payment methods like Apple Pay, Samsung Pay, and Google Pay, catering to the increasing popularity of contactless payments. 

With just a tap of your smartphone or smartwatch, you can securely complete your transaction without the need for physical cards or cash. This offers a convenient and hygienic payment option for customers.

Cash Payments

For those who prefer to pay in cash, IKEA stores typically have cash registers where cash payments are accepted. However, it’s worth noting that not all IKEA stores accept cash, so it’s advisable to check with your local store before visiting. 

If you decide to pay in cash, make sure to bring the exact amount or small bills, as the cash registers may have limited change available.

IKEA Projekt Credit Cards – Flexible Financing Options

While a traditional layaway plan may not be available, IKEA offers the IKEA Projekt credit card as an alternative financing option. Applying for an IKEA Projekt credit card allows customers to access special financing options to make their furniture purchases more manageable.

Applying for an IKEA Projekt Credit Card

The IKEA Projekt credit card is issued by Synchrony Bank. Applying for the card is a simple process that can be done online or in-store. To be eligible for this credit card, you must be 18 years or older and have a valid government-issued ID.

Special Financing Plans

Once approved, cardholders can take advantage of the special financing options available. The financing plans are based on the total purchase amount, allowing customers to divide payments into manageable installments. 

The availability of financing plans may vary, so it’s essential to check with IKEA or the Synchrony Bank website for the most up-to-date information.

6-Month Financing Plan

IKEA offers a 6-month financing plan, which is available for purchases between $250 and $499.99. With this plan, you can divide your payments into six equal installments, making it easier to budget your expenses. 

Keep in mind that minimum monthly payments are required, and interest may accrue if the balance isn’t paid off within the promotional period.

12-Month Financing Plan

For purchases between $500 and $999.99, customers can choose the 12-month financing plan. This longer-term financing option allows you to spread your payments over a year, reducing immediate financial strain. 

You will need to make equal monthly payments, ensuring that you stay on track to pay off the balance within the promotional period to avoid additional interest charges.

24-Month Financing Plan

Lastly, for larger purchases of $1,000 or more, IKEA offers a 24-month financing plan. This extended financing option is designed to help customers manage payments on higher-priced items. By dividing the total purchase amount into 24 equal payments, you can effectively budget the cost of your furniture over a longer period. 

As with the other financing plans, it’s crucial to meet the monthly payment requirements and pay off the balance in full within the promotional period to avoid paying interest.

layaway plan

Comparison of Layaway with Other Financing Options

While IKEA does not offer a layaway plan, they provide customers with the IKEA Projekt credit card as an alternative financing option. It’s essential to compare the pros and cons of layaway with other financing options to make informed decisions based on individual needs.

Traditional layaway plans often allow customers to reserve items without financial strain. However, a limitation of layaway is that customers cannot bring their items home until the balance is fully paid. 

On the other hand, using the IKEA Projekt credit card allows customers to make purchases immediately and enjoy their furniture while paying in convenient installments. This flexibility can be advantageous for those who need the furniture right away.

Frequently Asked Questions about Layaway at IKEA

Does IKEA have a layaway plan for 2023?

Unfortunately, IKEA does not currently offer a traditional layaway plan for customers to reserve items and make payments over time.

Can I choose between different installment plans?

Yes, with the IKEA Projekt credit card, customers can select from 6-month, 12-month, and 24-month financing plans based on the total purchase amount.

Is special financing available for large purchases?

Yes, for purchases of $1,000 or more, customers can take advantage of the 24-month financing plan to make the payments more manageable.

How can I apply for the IKEA Projekt credit card?

The IKEA Projekt credit card can be applied for online or in-store. To be eligible, you must be 18 years or older and provide a valid government-issued ID.


While IKEA does not currently offer a layaway plan, customers have various alternative financial services and payment options available. 

By accepting major credit cards, digital payment methods, and providing the IKEA Projekt credit card with flexible financing plans, IKEA aims to cater to the diverse needs of its customers. 

By understanding these options, you can shop confidently at IKEA and make the most of the financial services provided. 

Whether you decide to pay with your preferred credit card, utilize contactless digital payment methods, or apply for an IKEA Projekt credit card, IKEA ensures that you have a convenient and accessible way to bring your desired furniture pieces home.