Jio has an exciting offer for iPhone 8 buyers, at least on paper, it does look great but what is the catch.
Case 1- Citi Bank Card Users
In case you have a Citi Bank Card you can get up to 8000 cashback and the effective cost of let say iPhone 8 64GB will come down from 64000 to 52000.
It Now it is mandatory to get either ₹799 plan for all 12 months and you are bound to recharge it 12 times which amounts to ₹9588. Which is double the amount other users pay as their plan is valid for 56 days instead of 28 days.
Now the assured buyback value is 70% which is ₹44,800. Upon subtracting ₹4800 paid extra to Jio we get an assured cashback of ₹40,000.
So overall effective cost of using iPhone 8 64GB for 12 months translates to ₹16000.
Case 2: Non-Citi Bank Users
The effective cost will be ₹16000 and the cashback amount i.e. ₹8000 which totals to ₹24000.
But there is a big loophole, as iPhone 8 has dual glass design it may break or you may misplace original box or some of its accessories and in that case, the store executive will be determining the buyback percentage. Also, there will be a coupon code generated upon activation of the offer which you need to save securely or else the offer won’t be available to you.
Overall the deal isn’t bad for users who will be with Jio but isn’t as great as Jio is sugar coating it.
In case you buy it from anywhere else at ₹64000 you can easily sell it a year later in mint condition at ₹40,000 while you don’t need to be bound to Jio network and in case of damages, you will be benefited as you won’t have to depend on the mercy of Jio Evaluation executive.
We would recommend not to give in to the temptation as Jio network is still not perfect and you may need to switch as nowadays Jio is also suffering from congestion during peak hours.