Apple has announced a couple of offers for iPhones being sold in offline stores in India. The handsets are now available with zero down payment and low-interest EMI schemes, plus a 5% cashback deal.
As with any offer, there are a few caveats. Only the iPhone X, iPhone 8, iPhone 8 Plus, iPhone 7, and iPhone 7 Plus are eligible for the scheme. It’s also valid only on 18-month EMI plans. The deal is live up until September 30 for most credit cards.
Banks eligible for Apple’s iPhone Offer
This includes credit cards issued by American Express, Axis Bank, Bank of Baroda, Citibank, HDFC Bank, HSBC Bank, ICICI Bank, IndusInd Bank, J&K Bank, Kotak Mahindra Bank, RBL Bank, Standard Chartered Bank, State Bank of India, Union Bank of India, and Yes Bank. HDFC Bank debit cards are also eligible, as are consumer loans from Capital First, HDB Financial Services, and HDFC.
The exact Effective Monthly Cost (EMC) can be checked here via Indiaistore’s EMI calculator. For instance, the 64GB iPhone X is priced at Rs 95390 and its EMC is Rs 5599 for 18 months. This totals up to Rs 100782 in all, Rs 5392 more than the MRP.
Also Read: Apple to end deep discounts on iPhones in India
Here to make things a bit more affordable is a 5% cashback promise on credit cards issued by Axis Bank, Citibank, ICICI Bank, Standard Chartered Bank, and HDFC Bank. The same 18-month EMI rule applies here. It should be noted that Apple is allowing only 2 transactions per card during the offer period.
The amount is supposed to be handed back within 120 business days from the date of transaction. Apple recently tied up with Citibank to provide up to Rs 10000 as cashback on iPads, MacBooks, the Apple Pencil, and the Apple Watch. Only the bank’s credit card customers can take up the scheme.