Interest Free

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Interest-Free Credit

Product overview

What is Interest Free Credit?

A personal loan over a fixed time that allows your customers to pay off their purchase in equal monthly payments, with absolutely no interest:

  • Your customers repay through equal monthly payments over a set amount of time and can settle the outstanding balance at any time
  • The loan isn’t secured against the product purchased
  • Attract and convert a wide range of customers
  • Increase average customer spend


Benefits for your customers

  • Enables customers to make larger purchases earlier
  • Useful for planning personal cash flow
  • Helps your customers plan their budget which can include improved product specifications
  • No interest to pay

Explaining IFC to your customers

Representative example

Item value (cash price) £1,200.00
Deposit £0.00
Total amount of credit £1,200.00
Duration of agreement 12 months
Representative APR 0% APR
Annual rate of interest 0% p.a.
12 monthly payments of £100.00
Total amount payable £1,200.00

Example is for illustrative purposes only

Who can apply?

To be eligible to apply for one of our finance products, your customers must be:

  • 18 years or over on the date of application
  • A permanent UK resident for a minimum of three years and either:
    • In regular, permanent employment working a minimum of 16 hours a week (including students)
    • Self-employed
    • Retired from regular employment and aged 50 years or older
    • In receipt of incapacity benefit

Subject to application, financial circumstances and borrowing history