Banks Profit from iPhone 17 Sales in India

Imagine you want a fancy new phone, like the iPhone 17!

In India, many people buy these phones using a payment plan called EMI, where they pay a little bit each month.

While Apple makes the phone, it's the banks that make a lot of money.

Banks charge interest on these monthly payments.

A lot of people using EMI means banks collect a huge amount of extra money from interest.

For many, buying an iPhone on EMI isn't just about having a phone; it's about how they pay for it, and it helps the banks grow their money.

It shows how buying expensive things is tied to owing money, helping banks to profit.