Unlocking savings on your iPhone 17 purchase — bank offers, exchange bonus, cash-back deals explained

iPhone 17: credit card offers, cashback & Exchange Bonus

The iPhone 17 went on sale in India on September 19, promising faster performance, an upgraded camera system, longer battery life and new Apple Intelligence.

But, like all things Apple, iPhone 17 doesn't come cheap. According to a Statista report based on International Labour Organisation data, it requires over 900 hours of work in India to own one!

The latest line-up has four models — iPhone 17, 17 Pro, 17 Pro Max and iPhone Air  — each comes with multiple storage variants with the price going as high as Rs 2,29,900. If you are in queue for a tech upgrade and some serious bragging right, there are plenty offers. Let’s take a look.

Instant cashback offers

The starting price for iPhone 17 (256GB) is Rs 82,900. The upfront cost can be reduced with instant cash back offers that are linked to banks and credit cards. SBI and ICICI Bank credit cards are offering Rs 6,000 cashbacks, bringing down the price. The cashback applies broadly across all sellers and are a good way to bring down the price of the phone at checkout.

Exchange bonus

Customers can also from explore an exchange by trading their current smartphones. Typically, you can get an exchange value of Rs 7,000 on those phones but in some case with newer and more expensive phones the discounts can be go up to Rs 45,000.

Not only do these discounts reduce the effective price, it also puts your old phone to good use. The exchange amount will depend on the phone model, its condition and the trade-in policy of the seller.

EMI plans

According to a media report, 70 percent of iPhones in India are purchased on EMIs. No-cost EMI offers spread the cost over six to 24 months, allowing you to manage payments without paying additional interest. These EMIs can also work with cashback and exchange offers and thus maximise savings.

Sometimes an upfront payment enables a discount, which might not be available for a zero-cost EMI.

Usually these “no-cost” EMIs often come with processing fees, effectively increase the cost of purchase when compared to paying for it upfront.

“Additionally, many merchants offer these benefits only to specific credit cards or banks and also charge a pre-payment penalty for early repayment which could further increase the overall cost of purchase,” said Abhishek Kumar, a Securities and Exchange Board of India (Sebi)-registered investment adviser, and founder and chief investment adviser of SahajMoney, a financial planning firm.

Accessory discounts

Some sellers may also bundle discounts on Apple accessories such as iPods, chargers, and cases. These discounts can often be up to 40 percent.

iPhones 16, 15 get cheaper

If you want a phone upgrade and do not spend a fortune, you may want to wait for festivals sales such as Flipkart Big Billion Day or Amazon Great Indian Festival and get great prices on older iPhone models.

The iPhone 17 price is unlikely to fall but you can expect older models at a discounted price, which bundled with other offers, can make for a good buy.

Final price and what to consider before buying

By combining the instant cashback with the exchange bonus, you can bring down the price considerably. You can save more than Rs 10,000 on an iPhone 17.

Each phone comes with a one-year guarantee but does not provide coverage in cases of accidental damage or liquid damage. You can buy Apple Care plan for such contingencies. You can also get cover against theft and loss by paying an extra amount.

It is important to confirm EMI options, as the final repayment schedule will vary accordingly. To fully benefit from offers, it is crucial to understand the finer details of cashback and exchange programmes before making a purchase.