Apple has introduced a new financing programme that allows customers to purchase iPhones and other Apple devices through affordable monthly instalments, replacing its previous iPhone Upgrade Program and iPhone Payments plan.
The new Apple Upgrade Plan, launched in partnership with financial services provider Klarna, enables eligible customers to finance a range of Apple products through the company’s official website, Apple Store app and retail stores.
According to Apple, customers applying for the programme will undergo a soft credit check conducted by Klarna to assess eligibility. The company said the process will not affect applicants’ credit scores.
Under the new scheme, most of the latest iPhone, Mac, iPad and Apple Watch models will be available through the financing plan. However, some products have been excluded, including the iPhone 16, iPhone 16 Plus, Apple Watch SE, MacBook Air, the A16-based entry-level iPad, and the Studio Display.
Apple has also revised the programme by removing AppleCare+ from the standard monthly payment. Customers who wish to add the extended protection service will need to purchase it separately.
The company added that users who make their instalment payments using the Apple Card will receive 3% Daily Cash cashback on eligible purchases.
Read also: Will the PTA tax burden on iPhones be eased soon?
