Best Ways To Save For An iPhone In India In 2022

August 23, 2022
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Apple sold 54 lac iPhone in the year 2021 in India. This is in stark contrast to their sales in the US where Apple sold 2.49 Crore units in the same year. That’s almost 5 times more in a country with a population less than a third of India’s.

India is a much larger population and there has been a steady increase in the earning potential of young Indians. An iPhone, being a large aspirational purchase is often purchased using a credit card, which cuts out a large portion of Indians who are not interested in starting an EMI for an iPhone.

Below is a complete guide on how you can save for an iPhone in India in 2022.

Ways to save for your iPhone

Once you have the money or means to buy an iPhone, the options available in the market are many. You could walk into one of the big retailers or order one online from home. The scenario is not so same for someone like you who plans and saves for their purchase.

Here are a few ways you can save for an iPhone purchase in India.

Savings account

This is the simplest way that you can save for an iPhone in India. All you have to do is put aside some money in your savings bank account and not use it for your expenses.


  • It is something you already do.
  • You get around 2-4% annual returns on your savings after tax.


  • You have to be mindful of not dipping into your savings when you spend from the same account.
  • The returns that you get is lesser than inflation, which means you are losing money in the long run.

Mutual Funds

A growing number of Indians are getting creative with their savings. They create an SIP (or invest manually) every month with a portion of their earnings into a mutual fund. When they are ready for their purchase they liquidate their funds for a cash purchase.


  • There are many apps such as Groww, Scripbox, Kuvera, ETMoney, myCAMS, Zerodha coin and PayTM Money Mutual Funds that allow you to save money in mutual funds right on your phone. It is easy to learn.
  • Most mutual funds claim to beat inflation and it is fairly easy to pick top performing mutual funds that are often recommended by the platform of your choice.


  • Mutual funds are subject to market risks – meaning, if the market goes does, so does your investment. It is impossible to predict market performance in short terms.
  • The gains (or profits) that you make on your mutual funds is taxable. It is not recommended to liquidate your mutual funds in periods as short as a year.


Hubble is a way you can save for your iPhone just like you save in your bank account. A big difference is that you get 10% assured cash rewards each time you save towards your goal of buying an iPhone. This means that you effectively get 10% more value on the money that you save.


  • You get 10% cash rewards on your savings.
  • You can enable autopay and seamlessly save towards your goal on a monthly basis.
  • The money that you save is accessible 24×7, which means you can withdraw your savings to your bank at anytime using UPI.
  • There is no tax on the 10% cash rewards. This is because it is redeemed as a discount on the purchase price, which is offered by the brand partner.


  • The 10% cash rewards that is accrued is not withdraw-able to you bank account. (but it is assured if you go ahead with your purchase)

Komal Chawla

Writer-by-chance and overthinker-by-choice, raging a war against the Pineapple-on-pizza brigade

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