Reliance finally after investing in its JIO 4G technology recently came up with a solid idea of implementing a contract based iPhone 5c and iPhone 5s sales
The scene isn’t new to the western world anytime but is surely new to prepaid customers in India. So today I will mention about the whereabouts of this scheme for general public ,who aren’t much aware of what they are engaging into.
Warning: The above Math is purely for informative purpose , any Apple Fan please don’t treat it as anything different and if you are die hard apple Fans you wouldn’t care too much to read about it
The below table means you pay INR 2599 for an iPhone 5c and INR 2999 for an iPhone 5s as a 24-month Contract based EMI for 16 GB version and you pay the down payment if you want 32 GB or 64 GB (refer Table)
Though This offer from Reliance is unique and first of its kind in India and marks the beginning of subsidized contract-based smartphone sale in India. This has really stirred high-end smartphone industry in India and is definitely positive indication of similar future contract-based smartphone launch offers.
Now How Actually the Deal works?
Note : They Offer a INR 6000 Discount Discount for this Scheme
Image Courtesy:Captialmind.in
The above pic displays the EMI + Interest cumulative distribution
So it means that in the first place you need to have following:
E.g: You order a 5c 16 GB then you need to pay the INR 62376 amount upfront from your credit card and this actually is included in your billing so need to pay the additional Tax on this amount also
The Worst Part: This is a sort of loan taken by you from your bank,So need to pay 15 % interest too on it That Amounts to
Image Coutesy:Thinkdigit
What is Still Unclear is the “Service Tax” to be paid to the Bank for this…If you account that too then it amounts to about after 24-Months
Note: The Banks which have this scheme are:
e.g: Say your Father buys an iPhone and doesn’t want to use it ,then he can change his SmartPhone and make use of the scheme on that phone(This is cool)
Can You Run Away With The Phone and Not Pay?
Of course you can. But that’s like saying “Can you steal from my Safe deposit from Bank ?”
Your loan is from a bank (that issues the credit card), not from Reliance. So if you don't pay, the bank will come after you for the loan. They will add you as a defaulter.
They don’t care whether you have decided to become an Android or a Windows fan, and they will not cancel the loan if you give back the phone. Your credit card will be blocked - because you’re a defaulting in front of them now.
And Once you are in Defaulter, you face many problems;If I list a few:
My advice: Don’t be like ADIDAS and Just Do it
What Reliance Benefits from this?
What is the Downside for this Scheme?
This is the map of parts of West and South India, comparing the
Reliance network - bottom
Airtel network - top
This is Comparison of Network Coverage in Mumbai
Airtel-Top
RCOM-Bottom
TL;DR: Who should Buy this?
What is the Best Deal?
The 16GB iPhone 5s sounds like the best deal. It has ample storage for most uses and based on the calculation of Rs 2,999 EMI, it comes to Rs 71,976+1334(Service tax if bank charges)
That Totals to INR 72,310 including all costs for 24 months.
The unlocked price of the iPhone 5s base model is Rs 53,500, so in essence you will be paying a Rs 18,476 premium over the course of 2 years with the RCOM offer.
That’s about Rs 770 per month for 24 months.
Considering, The 4GB 3G data plan on RCOM is priced at Rs 450,(prepaid) this sounds like a Sweet deal indeed and is easily the best option to go with when it comes to buying the new flagship iPhone.
OR
Paying a One time INR 65976
Any Alternatives?
Yes, Airtel also offers the iPhone 5s for INR 53,500 upfront and then 50% discount for iPhone users
Using Airtel vs Reliance: for iPhone 5s
Airtel(INR) | Reliance(INR) | |
Upfront Cost | 53,500 | 65,976 |
Installment EMI | 0 | 2,999 (To Bank) |
Calls | Limited* | Unlimited |
DATA 3G | Limited* | Unlimited |
Total(at end of 24 month) | 77,500** | 74130 |
Savings | 12,000/year(if taken Airtel scheme) | 3,000/year(if paid one time) |
Disadvantage while saving | Restriction to calls ,3G DATA | Need to pay for 2 years at one time |
*Refer above table for Airtel Rates
**Airtel 2000 Scheme
Note: Upfront Price is One time in above list
So After Reading this ,Still Think that Reliance is offering it at very less price...Nah!
But the Scheme is definitely worth it, if you are wanting an Unlimited Scheme and Don't mind staying with it for 24 Months
Finals Thoughts: This is a very common scheme in USA and when after using this scheme for years there USA citizens are now wanting to opt for Contract-free(like now in India) GSM sims for phones
So in a way ,we are again implementing something which the Western world has already played with and are fed up it
Lets see how it fares in India in time ahead....What do you think about it?
EDIT:Updated the Calculation
P.S:Do let me know if there are any mistakes,its my blog
Regards,
This is by Reliance Anil Ambani group and not Reliance jiyo which is by Mukesh Ambani.
Vishal Sheth
Sent From My HTC ONE
--
╔═════════════════════════╗
Powered by → http://IAUG.in
Twitter → @AndroidINForum
╚═════════════════════════╝
Disclaimer - If you are sharing any Apk file in group, it is your responsibility. We always encourage our members to buy the application.
---
You received this message because you are subscribed to the Google Groups "Indian Android Users Group (IAUG)" group.
To unsubscribe from this group and stop receiving emails from it, send an email to indian-androi...@googlegroups.com.
To post to this group, send email to indian-...@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/indian-android/ed1cd386-edaf-4376-bae4-e1b11a7119f3%40googlegroups.com.
Thanks Vishal Bhai for pointing out that to me...Never Knew that Mukesh ambani entered in Voice and Telecom again !