While interest-free credit options have been around for years, with the Bank of England increasing the UK’s base rate to 1.25% in June, up from an historic low of 0.1% in December, they’re suddenly looking like a savvy spending option.
With interest rates expected to rise even more, and with many brands offering up to 48 months of 0% credit, taking out this one of these deals makes financial sense.
Just make sure that you read the terms and conditions and pay back the full amount in the agreed time, otherwise the interest rates will skyrocket along with your repayments.
From Apple (AAPL) and John Lewis to Ikea and M&S (MKS.L), here are the brands still offering interest-free credit.
Apple
You can now buy any Apple product with 0% finance for two years.
The iconic tech brand is offering the deal in collaboration with Barclays (BARC.L) and it is only available till 11 August 2022.
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There is no deposit or restriction on what you buy but the minimum order needs to be £299 and you’ll pay for this in a maximum of 24 monthly instalments.
You’ll need to fill out a credit application on Barclays website, but the decision will be instant so shouldn’t hold up your purchase.
More details available on the Apple website.
Ikea
If there’s a Billy bookshelf or a dream kitchen you’ve had your eye on for a while, Ikea offers 0% interest finance options for purchases between £99 and £15,000.
You have the option of choosing between three months and five years to pay for your purchase but it’s a very simple application process and can even be done via the Ikea Finance app at home beforehand.
Find out more on the Ikea website.
John Lewis
If you’ve finally found the perfect set of dining room chairs at John Lewis, it might be worth taking advantage of its 0% finance offer.
The retailer allows you to spread repayments over 12 or 24 months and there’s no deposit required.
To be eligible, you need to have been a UK resident for three years, pass John Lewis’ identity checks and have an annual household income of £10,000 or more,.
Learn about John Lewis financing here.
Miele
Washing machine packed in? Renowned German brand Miele is currently offering 0% credit with no deposit needed.
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For purchases between £500 and £1,000, you can spread the cost over six or 12 months, while for spends over £1,000, this is extended to over 24 or 36 months. Approval is given in around 5 minutes.
Details about interest-free credit can be found on the Miele website.
Skoda
Want to drive away a new car? Skoda offers 0% finance options when you buy but, unlike many of the other brands on this list, the package is bespoke and tailored to the individual.
Your local retailer will personalise the agreement with deposit amount and finance duration determined by the buyer’s circumstances.
The application process will take longer than with other, less expensive, products, and you will need to provide three years of employment and address history, along with other documentation.
More information on finance options are available on the Skoda website.
Nordic
No more excuses for not getting fit — Nordic fitness trainers are now available with 0% finance options, when you spend between £250 and £15,000 on health and fitness equipment.
You can take out the option of paying for this with no deposit and the 0% interest is up to 24 months, with details on the Nordic website.
M&S
High-street stalwart Marks & Spencer offers 0% finance — but only on its furniture range.
A deposit is optional, and the interest-free loan amount can be anywhere between £500 and £10,000.
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There are two options available for repayment terms, 12 and 24 months, and this offer is available online and in-store.
Ernest Jones
Want to buy something sparkly for someone special, or perhaps treat yourself to a designer watch?
Jeweller Ernest Jones offers 0% interest for up to 48 months on purchases with a minimum spend of £300.
A minimum 10% deposit is also required, but benefits of the scheme include equal monthly payments and no early settlement charges.
Find out more on the Ernest Jones website.
DFS Sofas
If your sofa has seen better days, DFS (DFS.L) has a range of different 0% finance options that make buying a new one a lot less stressful.
You can create a fully bespoke plan, based on your own circumstances, choosing how much your deposit will be (although none is required) and whether you repay over 6, 12, 24, 36, or 48 months.
There’s also the option of paying nothing for a year and then taking the next three years to pay back with interest-free credit.
Find out more on the DFS website.
Dreams
Get a better night’s sleep now — Dreams Beds is offering interest-free finance for either six, 10 or 20 months when you spend over £500 online or in-store.
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There’s no deposit required when you buy online, and a nifty finance calculator helps you work out the best option for your circumstances.
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