The iPhone 17 has arrived, a dazzling showcase of Apple’s latest tech wizardry, turning heads with its ₹1.5 lakh price tag for premium models. For Indian buyers, the real draw isn’t just the A19 chip, upgraded cameras, or Apple’s seamless ecosystem—it’s the siren song of EMIs (Equated Monthly Installments). Spread ₹1.5 lakh over 24 months, and suddenly, the latest iPhone feels attainable at ₹6,250-₹7,000 a month. But beneath the sheen of easy payments lurks a financial trap that can outlast the phone’s appeal.
The EMI Trap: Affordable Until It Isn’t
EMIs have made premium smartphones accessible in India, where paying ₹1.5 lakh upfront is daunting for most. Banks and retailers like Flipkart, Amazon, and Apple’s financing partners dangle “no-cost” EMI schemes, promising zero interest and manageable monthly payouts. It sounds like a dream: you get the iPhone 17 now, and your wallet barely notices. But dig deeper, and the cracks appear.
“No-cost” EMIs often hide fees, like processing charges, or inflate the phone’s price to cover interest. Some plans lock you into specific credit cards or financiers, curbing flexibility. Worst of all, a 24-month EMI commits you to a debt that may outlive the phone’s relevance or functionality.
The Resale Value Reality Check
The iPhone 17’s resale value is a rude awakening. While iPhones hold value better than most Androids, they still depreciate sharply. By 2026, when the iPhone 18 launches, your iPhone 17 might fetch 40-50% less than its original cost, especially if Apple introduces game-changing features. For context, a 2023 iPhone 15 Pro, originally ₹1.3 lakh, now resells for ₹60,000-₹80,000 in 2025, depending on condition and demand.
If you’re still paying EMIs in 2027, you could be stuck with a phone worth a fraction of its cost while monthly payments drag on. The thrill of a new iPhone fades fast—often faster than its battery, which shows wear after 18-24 months of heavy use, despite Apple’s optimizations.
The Debt That Outlives the Hype
EMIs’ psychological pull is strong. A ₹1.5 lakh phone feels like a minor expense when spread over two years. But this mindset fuels a debt cycle. Many upgrade every two to three years, chasing the next model. If you’re still paying for your iPhone 17 when the iPhone 18 arrives, you face a dilemma: take on more EMIs for a new phone or stick with one that feels outdated.
In India, where salaries often lag behind inflation and lifestyle goals, a ₹7,000 monthly EMI can become a burden when unexpected costs—like medical bills or rising expenses—hit. Unlike a home or car, a phone is a depreciating asset, not an investment.
The Fading Thrill and Battery Life
The first week with an iPhone 17 is pure magic—vibrant display, lightning-fast performance, and the status of owning the latest model. But by month six, it’s just a phone, even if a great one. Apps grow heavier, software updates push hardware limits, and the battery—despite Apple’s efficiency claims—struggles with India’s intense usage, like constant WhatsApp, 4G/5G streaming, and gaming.
Halfway through your EMI term, battery health may drop to 80-85% for power users. A ₹7,000-₹10,000 battery replacement adds to the cost. Meanwhile, the hype shifts to the next model, leaving you paying for a phone that feels less cutting-edge.
A Smarter Way to Buy?
Should you skip the iPhone 17? Not necessarily. For those who can pay upfront or clear EMIs fast, its rumored 120Hz ProMotion display, AI enhancements, and sturdy build make it a solid choice. But smarter options exist:
- Save and Pay Upfront: Save for a few months to buy outright, avoiding interest, fees, and debt’s mental toll.
- Choose Shorter EMIs: A 6- or 12-month plan minimizes the risk of paying for outdated tech.
- Buy Last Year’s Model: The iPhone 16 or 16 Pro, now cheaper, delivers near-identical performance.
- Consider Refurbished: Certified pre-owned iPhones from Apple or trusted retailers cost less and include warranties.
- Budget Wisely: Calculate the total EMI cost (including fees) and ensure it fits your budget without sacrificing essentials.
The Bigger Picture
The iPhone 17 underscores how smartphones double as status symbols. EMIs make them accessible but exploit our craving for instant gratification. In India, where financial literacy is growing, “affordable” payments can strain budgets.
Before signing up for that 24-month EMI, ask: will the iPhone 17 still spark joy in 2027? For most, the answer is no. The phone fades, the battery drains, and the debt lingers. Choose wisely—your wallet deserves it.
Disclaimer: Prices and features are based on trends and estimates as of September 2025. Verify EMI terms and resale values before buying.
