Apple offers installment payments to Chinese customers

(Credit: Apple)

Apple is trying to make it easier for customers in China to pay for its products.

The company has posted to its Chinese Web site a new installment plan, allowing customers who pay 300 yuan (about $48) or more for an Apple product to pay in installments. From now until January 23, Apple is offering interest-free payments for up to 12 months. If customers choose 18- or 24-month installments, interest will be assessed at 6.5 percent and 8.5 percent, respectively.

When customers check out on Apple's online store, they'll be given the option to pay in full at that time or choose an installment plan. Upon doing so, they'll be entered into installment plans through the Merchants Bank credit card.

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  by Don Reisinger via CNET