Apple has announced a price drop on its iPhone SE for Indian buyers. This price cut in the financial year closing time could be a great push up for Apple sales. Retailers have listed the 16GB iPhone SE as low as Rs 19999 and the 64 GB variant costs around Rs 25999. Just before this, Apple has also announced Rs 5000 cash back on the purchase of iPhone SE by a debit or credit card.

Retailers are gearing up for the iPhone SE price cut while Apple is yet to confirm news officially. As of now, major online retailers like Flipkart.com and Infibeam.com haven’t listed the cut-down prices and continues selling with their old prices.

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The iPhone SE cash back offer was made available from Friday and will be continued until March 31. However, the cash back is only applicable on credit or debit cards of various banks. You can avail the discount by the following banks - Citibank, HDFC Bank, HSBC, Axis Bank, ICICI Bank, IndusInd Bank, RBL Bank, SBI, Standard Chartered, Kotak, UBI, and Yes Bank.

The cash back on iPhone SE will be credited to the customer’s account on or after 90 days of purchase. Another note is that the cash back is not applicable if user opts EMI option. Lowering the price of 16GB iPhone SE which costs Rs 29900 helps Apple product to compete in the price segment. Probably the less pricing would also help Apple to see a big market for iPhone SE in India.

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Recalling the specs, iPhone SE is an update over the iPhone 5S with almost iPhone 6S specs under the hood. Despite its size, it boasts A9 processor and 12MP iSight camera with Apple’s dual-tone flash. The device also has 1.2 MP front camera and does come with Apple Pay support. iPhone SE features a TouchID fingerprint scanner and a 4-inch Retina display.