Apple is planning to start interest-free payment plans. This payment is only for those customers who use Apple Card to buy Macs, iPad, AirPods, and a few other products. This will allow the customers to make the purchase and then pay by monthly installments.
Interest-free Apple Card Payments
According to reports by Bloomberg Apple will introduce this interest-free Apple Card feature in a few weeks. The customers will have 12 months to pay for their purchases. Apple has plans to offer the 12-month payment plan for iPads, Apple Pencil, Macs, Apple Pro Display XDR, and iPad keyboards.
Apple will offer a 6-month payment plan for Apple TV, AirPods, and HomePod. The customers will pay the charges by their wallet app and Apple will add the charges to their Apple Card bills every month.
Back in December Apple also rolled out a 24-month interest-free payment plan for customers who buy an iPhone using Apple Card. This new plan will also work similarly. The customers will also get a 3% daily cashback when they make a purchase. The purpose of Apple’s payment plans is to increase the sales which have reduced this year due to the ongoing global health crisis.