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How To Buy Latest iPhones on EMI Using Personal Loan?

Published on Nov 29, 2022Updated on May 6, 2024

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?

Here is how you can apply for a personal loan with SMFG India Credit:

  1. Use the provided link to initiate your application for a loan.
  2. Fill in basic identifiers like mobile number, PAN, pincode, and employment category (salaried or self-employed).
  3. Complete the mobile verification with an OTP and verify your email ID.
  4. Input further details including email address, date of birth, gender, annual income, and job history.
  5. Review the loan terms carefully, focusing on the loan amount and repayment details. Once satisfied, confirm acceptance to proceed. You will also be offered an option to increase the loan amount.
  6. Provide the relevant job information if you are receiving a salary.
  7. Complete the digital verification process for your identity and address, which can be done using CKYC, OKYC, DigiLocker.
  8. Submit bank details to be verified by us. After their verification, proceed to give some more information in the section ‘Additional Details’.
  9. Decide on a payment method between a debit card and internet banking, and finalise the eNACH setup.
  10. Carefully review and sign the loan agreement digitally, and authenticate it with an OTP.

Get closer to your financial targets by following these easy instructions to apply for a personal loan at SMFG India Credit.


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.

* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us

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