UnionBank and IKEA launch 0% instalment plans for Philippine cardholders
UnionBank has teamed up with IKEA to offer flexible payment options for its credit cardholders. The new partnership introduces 0% instalment plans on large purchases, even though IKEA currently has no physical stores in the Philippines.
To encourage spending, a raffle promotion will also run from 26 September to 22 November 2025.
Under the deal, UnionBank cardholders can split payments interest-free when shopping at IKEA. A 3-month instalment plan is available for purchases of PHP 10,000 or more. For spending PHP 20,000 or above, customers can opt for a 6-month, 0% instalment option.
The partnership includes a raffle draw for those using the instalment plans. Each PHP 10,000 spent earns one raffle entry, while a PHP 20,000 purchase grants three entries. The prize is an IKEA Gift Card worth PHP 300,000. Mukul Sukhani, a UnionBank representative, explained that the collaboration aims to make big-ticket purchases more manageable. The bank's PayEasy service will handle the instalment transactions for eligible cardholders.
The promotion runs until 22 November 2025, giving customers time to take advantage of the payment options. Winners of the raffle will be selected from entries earned through instalment spending. UnionBank cardholders can now access these benefits despite IKEA's lack of physical stores in the country.
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