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How To Buy Latest iPhones on EMI Using Personal Loan?

Published on Nov 29, 2022Updated on Oct 20, 2023

How To Buy Latest iPhones on EMI Using Personal Loan?

iPhones stay on everybody’s mind when they are launched. From style to functionality, iPhones are known as the best brand that one can carry, both as a status symbol and as a workplace accessory. Today, the latest iPhone version in the market is the iPhone 14 series with the iPhone 14, iPhone 14 Pro, iPhone 14 Pro Max, and iPhone 14 Plus.

But if you do not want to spend a bulk amount of money on this device at once, is there a way you can buy the Apple iPhone on installments? Yes! You can buy an iPhone on EMI without a credit card by taking out a personal loan. This way, you need not disrupt your personal savings or make sudden withdrawals; you can simply take external financial aid. This article explains how to buy the latest iPhone on EMI.

List of Latest iPhone To Buy:

On EMI, you can go for the following iPhone models:

1. iPhone 14 Pro Max

The price of this model in India starts at around INR 1,50,000. Its classy design and powerful camera with iOS 16 technology makes it worth the price tag. Its high battery life and smooth UI is everything you need.

2. iPhone 14 Pro

This model costs around INR 1,30,000 and has a 120Hz refresh rate, which is one of the highest in the category. Now in silver, gold, purple, and black, this model can transform the way you talk, text, and navigate through work.

3. iPhone 14 Plus

The upgrade from iPhone 13 brought along in this phone a change in features, interface, camera, and processors. You have the benefit of wireless charging and long battery life with this phone. It costs around INR 89,000.

4. Personal Loan For Shopping

You can take up a personal loan for shopping if you want to buy the latest iPhones on EMI. With a personal loan, you can receive instant* funds in your account shortly after approval, and go ahead with your purchase without delay. The benefits of taking up a personal loan in this case are:

  • You need not worry about arranging for a lump sum payment from miscellaneous sources.
  • You can avoid borrowing from friends and family.
  • You receive funds at once, but can repay bit by bit in instalments.
  • Taking up a personal loan means you don’t need to give your personal assets up as collateral.
  • You can choose your repayment structure.
  • An online personal loan saves you the trouble of visiting a branch for lending.

You can apply for a personal loan online for an amount equivalent to the price of your iPhone. The interest rates on personal loan are as low as 11.99%* per annum, which means that EMIs will be extremely affordable. For instance, if you take up a personal loan for INR 2,50,000 at an interest rate of 12% and choose the time period of the loan to be 36 months, then your monthly equated instalment comes to only INR 8,302. This will avoid all financial burden on your back and you can enjoy the latest iPhone in hand.

Must Read: Here's How to Upgrade Your Lifestyle using a Personal Loan?

To avoid doing these calculations manually, you can use the online personal loan EMI calculator.

How To Apply for SMFG India Credit’s Personal Loan?

If you wish to apply for your personal loan for shopping today, then follow these steps:

  1. Log into the official website.
  2. Read through the terms and conditions of your loan well.
  3. Click on Apply Now.
  4. Log in using your phone number and verify the OTP.
  5. Have all relevant personal loan documents handy.
  6. Keep in hand your CIBIL score for eligibility.
  7. Evaluate your financial standing and choose your repayment tenure accordingly.
  8. Choose your personal loan details like amount and apply. 

Your personal loan application will take some time for approval after which within 72 hours*, you can avail of the funds from your account.


It is the dream of every individual to grab the latest iPhones in town since there is a certain pride and positive confidence associated with the act. If you wish to enjoy the possession of these powerful devices, opt for buying an iPhone on EMI without credit card through an instant* online personal loan. Check your eligibility through SMFG India Credit’s online eligibility calculator and apply now.

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*Terms and Conditions apply. Loans are disbursed at the discretion of SMFG India Credit.