Should I buy the new iPhone 15 on a 24-month No-Cost EMI? It fits my monthly budget.

Published 22 September 2026

Swapnil from Mumbai
I really want to upgrade my phone to the latest iPhone, which costs around ₹80,000.

I don't have the full cash right now, but I can easily afford the ₹3,333 monthly EMI over 24 months.

Since it is a no-cost EMI, is there any harm in buying it now and paying later?
Sachin Kabra Sachin Kabra ex-Director HDFC Private Wealth, Business Head Motilal Oswal AMC LinkedIn
I remind people that EMIs and "Buy Now, Pay Later" schemes are the primary culprits destroying young people's cash flow.

While the math might look manageable, purchasing depreciating assets on EMIs fundamentally damages your financial health.

When you buy a gadget on a 24-month EMI, you are essentially spending a portion of your next two years' salary in advance. You are committing your future labor to pay for present desire.

Tying your happiness to material devices is a never-ending trap, as they depreciate and newer models are released every year.

If you truly want to upgrade your phone, the best financial approach is to save up and pay the full amount upfront. If you do not have the cash in your bank, you simply cannot afford it yet. Patience is key here.

Save for six months to a year and buy it when you genuinely have the funds. Liberating yourself from the peer pressure of upgrades allows your money to be spent on things that actually make your life better, like experiences.

Disclaimer: All information shared above are strictly for educational and informational purposes only. It should not be construed as financial or investment advice.
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