Ikano Interest Free Credit (IFC)
You will pay no more than the amount than you borrow. If you were to borrow £600 over 12 months you would pay £50 per month, assuming you make all repayments on time.
Deferred IFC
This loan is like an IFC but you do not make your first repayment for an agreed period of time for example 6 months after purchasing your products.
Buy Now Pay Later (BNPL) Loan
An interest bearing loan where you do not have to make your first repayment for an agreed period of time. You have the option to fully settle your loan without incurring any interest within the deferred period. If you choose to settle your loan after this period, then any interest accrued since applying for your loan will be applied.
Ikano Interest Bearing Loan
A loan with interest applied from the date that you receive your goods, paid off in monthly installments.