Vishal Bhalla, 30, a corporate communications professional had taken a loan of Rs90,000 to buy an iPhoneX, in March last year – only four months after its launch in India. He claims to be a big fan of Apple’s smartphones as he finds it convenient, comfortable, with easy-to-use features. Previously, he has used iPhone 5, 5s, 6 and 6s, and also tried OnePlus mobile for a brief period.

Consumer electronics and durables retail chain, Croma, had given Bhalla a good deal while purchasing iPhoneX. According to him, the company did not charge him any interest, and the sum could be paid in one year’s EMI.

Moreover, the loan was processed within an hour with basic documents like Aadhar card, Pan card, and a down payment of `10,000, which also covered the phone’s insurance fee.

Bhalla said that the retail chain had a direct coordination with HDFC bank, where he holds his salary account. He spent close to 7.5 per cent of his salary to pay the EMI, which started in April 2018. Meanwhile, this was not the first time he took a loan  of some sort.

He is currently paying an EMI of Rs12,000 for the Hyundai i20 Elite car, which he bought for Rs7.2 lakh in June 2016, with a down payment of Rs3.5 lakh. The EMI for his car loan ends in June 2020. Bhalla has also applied for a home loan of Rs50 lakh, which is charging an interest rate of 8.6 per cent.

Hailing from Punjab, Bhalla, who has been staying in Delhi since 2010 in a rented apartment with his friend, has recently bought a flat in Faridabad, Delhi NCR. Apart from keeping aside some amount of his salary in savings, Bhalla invests Rs5,000, Rs3,000 and Rs2,000 in three separate SIPs every month.

Being an Apple freak, Bhalla is eyeing to purchase Apple’s MacBook Pro laptop this October. He is also hopeful of getting some discounts during the festive season. The price of the laptop is above `1 lakh, and he plans on purchasing it from a similar electronics and durables loan provider.