UPDATE: Airtel has also started selling iPhone on EMIs. More details here.

With the current iPhone price in India, it is next to impossible for the masses to get their hands on the iconic phone. With this view in mind, Vodafone India has launched a scheme to sell iPhone on half yearly or yearly Equated Monthly Installments (EMI). Customers need a Barclays or Axis Bank credit card to transact the deal. The interest rate on personal loans is charged anything from 9 percent to 15 percent. But in case of iPhone, customers will be charged significantly less.

On the other hand, Airtel isn’t interested in providing iPhone on EMI but wants to compensate its customers by giving them 500MB of free data transfer for the next 12 months.