Premium smartphones have become increasingly expensive, with many flagship models from companies like Apple crossing the ₹1 lakh mark. As a result, many consumers prefer buying devices like the Apple iPhone 15 Pro or similar models through easy monthly instalments (EMIs) instead of paying the full amount upfront. While EMI options make high-end gadgets seem more accessible, the financial implications are often overlooked.
When a ₹1 lakh smartphone is purchased on EMI through a credit card, bank financing, or buy-now-pay-later services, the buyer may end up paying more than the original price depending on interest rates and processing fees. For example, if a 12-month EMI plan carries an interest rate of 12–15% annually, the total repayment can exceed ₹1.07–₹1.10 lakh. Even “no-cost EMI” schemes sometimes include hidden charges or discounts adjusted in the final price.
The appeal of EMIs lies in smaller monthly payments, often ranging between ₹8,000 and ₹9,000 for a year-long plan. However, financial experts warn that frequent gadget purchases on credit can impact monthly budgets and reduce savings potential. In some cases, missed EMI payments can also affect a buyer’s credit score, especially when financed through credit cards or consumer loans.
Another factor to consider is depreciation. Smartphones lose value quickly as newer models are released every year. This means a buyer may still be paying EMIs for a phone that has already lost a significant portion of its resale value.
Experts suggest evaluating personal finances before opting for EMI purchases. If the monthly payment comfortably fits within disposable income and the EMI scheme truly offers zero interest, it may be manageable. Otherwise, saving up and paying upfront could help avoid additional costs and reduce financial pressure.
Ultimately, the decision to buy a ₹1 lakh iPhone on EMI is not necessarily a bad idea—but understanding the real cost, interest burden, and long-term financial impact is essential before making the purchase.
‘ଧୁରନ୍ଧର: ଦ ରିଭେଞ୍ଜ’ର ସଫଳତା ପଛରେ ଥିବା...
ଗ୍ରାମୀଣ ଉନ୍ନତିକୁ ଶକ୍ତିଶାଳୀ କରିବା ପାଇଁ କେନ୍ଦ୍ର ସରକା...
1 ଏପ୍ରିଲ୍‌ରେ ଓଡିଶା ଗର୍ବ ଓ ଉତ୍ସାହରେ 90ତମ ଉତ୍କଳ...
ଉଚ୍ଚଶିକ୍ଷା ମେଦାନରେ ବଡ଼ ପରିବର୍ତ୍ତନ ଆଣିବାକୁ ଓଡିଶା ବି...
Dhurandhar: The Revenge ବକ୍ସ ଅଫିସରେ ଅପୂର୍ବ ସଫଳତା ହ...
ବଲିଉଡ୍ ଅଭିନେତ୍ରୀ Kriti Sanon ପୁଣିଥରେ ତାଙ୍କ ବ୍ୟକ୍ତି...
ଗୁରୁତର ଘଟଣାରେ ଜଣେ ଛାତ୍ରୀ କେରୋସିନ ଢାଳି ନିଜକୁ ଆଗୁନ ଲ...
ବଲିଉଡ୍ ଅଭିନେତା Akshaye Khanna ତାଙ୍କ 51ତମ ଜନ୍ମଦିନ ଅ...
