Apple has suddenly put a halt on interest-free financial services in Canada for smart devices. This includes iPhone, iPad, and Mac purchases. As of now, the company is planning to finance these products over 12 or 24 monthly payments.
According to the details, Apple has not mentioned any specific reason behind stopping interest-free financial services in Canada. Although the process of halting these facilities is at full pace. Many of the company’s financing options in the US have already backed off from the region, including Apple Card monthly installments.
Notably, Apple says that a user or a customer who buys an iPhone for $1,099 will have an option of a monthly payment of $49.70 for 24 months. The customer would pay a total of $1,192.79 over this term, along with $93.79 in interest charges.
The current financing offers that are available in the country are:
- iPhone: 7.99% for 24 months
- iPad: 4.99% for 12 months
- Mac: 4.99% for 12 months
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This shift is taking place after Apple’s financing partner PayBright was acquired by Affirm in 2021. Apple’s website says financing is now provided by Affirm.
(Via)
