AFFIN and IKEA ink MOU to support homeowners via integrated financing and furnishing solutions

KUALA LUMPUR (June 30): AFFIN has announced a strategic collaboration with IKEA Malaysia aimed at providing customers with greater accessibility to home financing, renovation, and furnishing solutions, reflecting the evolving needs of Malaysian households.

The partnership brings together AFFIN’s financial expertise and IKEA Malaysia’s home furnishing capabilities to support customers in creating living spaces that align with their changing lifestyles.  

To support these needs, AFFIN Home Renovation-i has been introduced to assist homeowners with renovation requirements, covering interior and exterior works.  

The facility includes renovation expenses such as tiling, roofing, plumbing, wiring, and other improvement works.

The solution offers financing of up to 120%, covering home financing and renovation costs, subject to eligibility requirements. It is available for properties valued at RM150,000 and above, with repayment tenure of up to 35 years or until the customer reaches 70 years old, whichever comes first.

Complementing this is AFFIN Flexi Save/-i, which allows customers to potentially reduce financing costs by offsetting their financing balance against their deposit balances. The feature provides customers with greater flexibility in managing their finances while enjoying potential savings over time.

AFFIN president and group CEO Datuk Wan Razly Abdullah said in his welcoming speech at TRX today that the collaboration represents the bank’s broader focus under its AFFIN Accelerate 2028 plan, particularly in enhancing customer experience through solutions that extend beyond traditional banking services.

“Today, banking is not just about transactions or products, but about enabling life, supporting customers in buying homes, building businesses, pursuing ambitions, and planning for the future,” Wan Razly said.

He highlighted that Malaysia’s residential landscape continues to evolve, with more homeowners seeking to create spaces that provide comfort, functionality, and adaptability — whether for growing families, dedicated workspaces, or multi-generational living arrangements.

Wan Razly said the collaboration reflects AFFIN’s efforts to build a wider ecosystem of solutions that supports customers throughout their homeownership journey — from financing and renovation to furnishing and everyday living.

Meanwhile, IKEA Malaysia country retail director Malcolm Pruys said the partnership aligns with IKEA’s objective of making well-designed and functional home solutions more accessible and affordable for Malaysians.

He said the collaboration combines AFFIN’s financial solutions with IKEA’s home furnishing expertise, allowing customers greater flexibility in creating spaces that support the way they live, work, and grow.

“Everyone deserves a home and a workspace that works for them, and through this partnership with AFFIN, we are making it easier for more Malaysians to bring those spaces to life,” Pruys said.

Beyond renovation financing, the collaboration also includes customer privileges such as AFFIN credit card members being able to enjoy zero-interest Easy Payment Plans on eligible IKEA purchases made through IKEA payment terminals. Customers may access repayment options of up to 6, 12, or 24 months for purchases starting from RM500.

The partnership also extends to enhancing customer experience, with IKEA Malaysia set to furnish AFFIN’s upcoming concept branch in Bukit Jalil, creating a customer-focused environment designed around comfort and accessibility.

Through the collaboration, AFFIN and IKEA Malaysia aim to provide customers with a more seamless journey towards homeownership — combining financial solutions, renovation support, and furnishing options to help Malaysians create spaces suited to their evolving lifestyles.

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