Buying an iPhone on 0% APR loan

Salaam all,

Apple offers 0% APR financing with Barclays on all iPhone purchases, which allows you to split the payment over 24 months. Is this Halal?

Assalaamu alaykum,

Since it is 0%, interest is not involved. It would be permissible to borrow from Barclays in such a way as it is interest free. One should make sure there is no default to ensure no late penalties are charged.

Allah knows best

Walaykum asalam warahmatullah Qasim.

Please proceed with caution and have a look at the ‘small print’ wording of the contract - as is often the case, whilst the headline interest rate may be 0%, there are usually other terms and conditions within the contract that do contain interest - for example, what do their clauses state will happen if you stop or if you default on your payments over those 24 months?

I have been through this process and can confirm that there is no interest nor any late fees- please see the conditions below from their pre-credit contract information. If you default on your payment you will be due the full amount, and they will add any costs that they pay to recover your debt. The interest rate is explicitly shown to be 0% throughout the contract.