After Reliance Jio, Airtel too has entered the fray to cash in on the craze for the latest Apple smartphones in the country, by offering the new Apple iPhone 7 and iPhone 7 Plus smartphones to customers on contract basis at a minimum down payment of Rs. 19,990 and Rs. 30,792, respectively.

Under the new iPhone 7 offer, Airtel will provide unlimited local and STD calls, free roaming, and free data (5GB, 10GB or 15GB, as per the plan you choose) under a new postpaid plan.

The iPhone 7 offer by Airtel, however, is available only to customers in Noida and Karnataka, says Airtel website.

The plan works as follows: New and existing Airtel customers can choose the 'iPhone for Life'[ plan by making a down payment to get their iPhone 7 or iPhone 7 Plus. The balance amount will be paid for by Bajaj Finance Limited. Customers can choose between either of three postpaid plans mentioned below, and can switch the plans when they want to. They must remain subscribed to the 'iPhone for Life' plan for one year.

During the one year period, customers will not be able to port to another network, switch to non-'iPhone for Life' plans (either postpaid or prepaid), terminate the services, or transfer ownership of neither the plan nor the iPhone to someone else. However, they have the option to foreclose the loan from Bajaj Finance by paying the charges that the company levies.

After a year, the iPhone 7 users get two options: either to upgrade to the next version of the iPhone or to buy the handset they are using by making a balloon payment.

Airtel has not disclosed the charges, if any, will be levied to 'iPhone for Life' subscribers who want to upgrade to next year's iPhone.