iPhone on EMI – Bharti Airtel

Bharti Airtel in association with VISA and SBI Credit Cards is offering iPhone 3G on an EMI deal. If you are a SBI card holder you can BUY the 16GB version iPhone for Rs 1,654 per month in 24 installments. You end up paying Rs 39,696 for a device costing Rs 36,000. SBI is charging 9.5% rate of interest [reducing balance] assuming if you promptly pay the installments.

However it is not very clear how will SBI handle the case if you are already carrying forward balance on your credit card. We recommend not to get into the trap as it is not worth it – Rs 40,000 for a phone ? However, if you are still tempted to BUY, then ask every detailed question before you BUY and get the same in writing because SBI is well known to change their verbal version of rules and regulations.

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