iPhone 18 launches today, but this iPhone 16 deal could save you big

The iPhone 18 launch could have Apple fans looking at the brand’s latest Pro models, but shoppers who want an iPhone at a lower price have another option worth checking. With the iPhone 18 Pro and iPhone 18 Pro Max set to launch today, the older iPhone 16 is available with discounts and exchange benefits on Flipkart and Reliance Digital.

For buyers who do not necessarily need Apple’s newest model, the current iPhone 16 offers could make the older generation considerably more affordable. The biggest savings come through a combination of bank discounts and exchange benefits.

iPhone 16 price on Flipkart

Apple originally introduced the iPhone 16 in India at a starting price of Rs 79,900. Following the launch of the iPhone 17 series, Apple reduced the price of the iPhone 16, bringing the 128GB variant down to Rs 69,900.

Flipkart is currently offering additional savings on the 128GB model through eligible bank and exchange offers.

Customers paying with a Flipkart Axis Bank or SBI card can get a Rs 2,420 cashback, according to the offer details provided.

There is also an exchange benefit for customers upgrading from an older iPhone. Those exchanging an iPhone 14 can get up to Rs 21,500 as an exchange benefit, subject to the phone's condition, model and verification.

If a buyer qualifies for the full exchange value and the bank cashback, the effective cost of the iPhone 16 could come down to around Rs 45,980.

The exchange value, however, is not guaranteed. The final amount will depend on the condition of the old iPhone and the verification carried out during the exchange process.

iPhone 16 offer on Reliance Digital

Reliance Digital is also listing the iPhone 16 128GB at Rs 69,900.

There are additional bank-related savings for eligible customers. With a PNB card, buyers can get up to Rs 5,000 off, bringing the stated price down to Rs 64,900.

An ICICI Bank card offer brings the price to Rs 66,405, based on the offer details provided.

Should you buy the iPhone 16 after the iPhone 18 launch?

The launch of the iPhone 18 series does not necessarily make the iPhone 16 a bad choice for buyers looking to save money. In fact, falling prices on older iPhone generations can make them more attractive to shoppers who want the Apple experience without paying the price of a newly launched model.

The Flipkart deal could be particularly appealing to existing iPhone users who have an iPhone 14 to exchange, as the combination of the bank cashback and exchange value can substantially reduce the effective purchase price.

For buyers without an eligible exchange device, the Reliance Digital bank offers provide another route to bringing down the Rs 69,900 listed price of the iPhone 16 128GB.

With the Apple launch event 2026 putting the spotlight on the new iPhone 18 Pro and iPhone 18 Pro Max, buyers planning an upgrade now have two very different choices: pay a premium for the newest generation or look at the older iPhone 16 while current offers are available.