Buyback Plan FAQs
- What are the program details?
The program allows you to pay for select iPhone models in 24-month interest free instalments and guarantees a fixed buyback price for your iPhone when you upgrade to your next iPhone or will provide you the Assured Buyback amount in your bank account. The plan is available on iPhone 13 Pro Max, iPhone 13 Pro, iPhone 13, iPhone 13 mini, iPhone 12 and iPhone 11 at select Apple authorised reseller stores near you.
- Who will provide Assured Buyback?
The Assured Buyback is provided by Servify exclusively on select iPhone models. Apple authorised reseller stores will be responsible to enable the Assured Buyback Plan along with 24-month EMI schemes. Assured Buyback redemptions will be subject to overall program Terms and Conditions defined by Servify.
- What are the key benefits?
Assured Buyback Plan that protects the value of your iPhone against market fluctuations and insures an assured buyback value of your iPhone. This guaranteed buyback value can be redeemed against the purchase of a new iPhone
The buyback value of your iPhone at any given point of time within the Plan term is determined by the age of the iPhone from the Invoice date of your iPhone. The eligible buyback value is a certain percentage of the Invoice value (ASP) of the iPhone as described in the table below.
a) iPhone 13 Pro Max, iPhone 13 Pro, iPhone 13, iPhone 13 mini, iPhone 12 and iPhone 11
Redemption period (from date of purchase) % of the invoice value 21-24 months 25%
Please refer to the detailed Servify’s Terms and Conditions on the Assured Buyback/Trade-in redemption process.
- How do I enroll for the program?
The device must be purchased from an Apple authorised reseller store on ICICI Bank Credit Card with Deferred Payment Facility of 24 months for availing the benefits under this plan. Upon purchase of the iPhone under the financing scheme, please request the reseller to register the iPhone on Servify’s mServ app or Servify portal within 7 days of purchase. Upon successful registration, the Assured Buyback/Trade-in facility will be activated within 5 business days, subject to eligibility checks as deemed fit by Servify. You will subsequently receive the confirmation email and/or SMS from Servify.
The Assured Buyback/Trade-in value is available only within the specified facility duration i.e. plan activation date to plan expiry date. The plan activation and expiry date will be communicated to you at the time of loan disbursal.
Please note that you will not be eligible for the Assured Buyback/Trade-in value in the event of you not registering as per the above process. Please reach out to the reseller store to ensure registration is successfully completed.
The 24-month EMI with Deferred Payment Facility on your ICICI Bank Credit Card is independent of the registration for Assured Buyback/Trade-in facility on the Servify app/portal, and subject to Terms and Conditions of ICICI Bank.
- When can I exercise my buyback option i.e. sell my original device for assured value?
- Within the plan term, if you wish to upgrade to the new iPhone by redeeming the buyback value as per the benefits offered by the plan, you must visit the nearest Apple authorised reseller store. Also, you can initiate redemption directly with Servify and a logistics agent will visit you to pick your registered device
- The reseller shall initiate buyback process by downloading the Servify app on the iPhone and follow the instructions provided in the Servify app to complete the quality check ("QC") procedure and provide all the details asked in the process.
- Subject to you providing required details and subject to the iPhone passing the quality check (“QC”) specifications as listed below under “QC specifications”, the buyback request shall be approved. Please note, an online quality/diagnostic check will be conducted while raising a buyback request. No test shall be skipped by you, if skipped Servify may deny the benefits. If the iPhone does not pass the QC test, you shall not be eligible to avail the buyback plan.
- After the device diagnostics and QC is completed the final buyback value is shown. If the buyback value is acceptable, you will hand over the iPhone and other accessories to the reseller who will provide you the buyback value benefit in your next iPhone purchase or in your bank account.
- Servify assumes no responsibility towards ICICI Bank for underlying device purchase finance Facility taken by the Cardholder.
- You need to initiate the buyback execution before end of 24 months while the doorstep pick/in-store buyback can be done up to 30 days from end of 24 months. Once a pick up is scheduled, you need to ensure device is handed over to logistics partner. Any delay/cancellations of pick up can lead to rejection of buyback plan redemption. Any dispute regarding these must be addressed in writing, by the customer, directly with Servify and will need to contact Servify customer service number: 1800 123 333 888 (toll free), on all days between 9am to 9pm or reach out to Servify customer service email ID: email@example.com
- Redemption Terms and Conditions – Assured Buyback Plan from Servify
- The iPhone shall be used by the customer on an ‘as is’ basis and shall not be tampered with, including but not limited to, by way of rooting attempts, reverse engineering, unlocking or jailbreaking of the Product or original firmware(s) or software(s) of the Product.
- The iPhone must be switching ON and remains in the ON-condition for a minimum of 10 minutes without being connected to a charger
- iPhone must not have any un-authorised modifications as per AppleCare norms
- The iPhone must be in working condition, passing all functional tests.
- The screen and the body of the iPhone must not be damaged or in broken condition
- Screen lock is not active (all forms of screen locks like pattern, pin, password, fingerprint, face recognition, smart lock, etc. need to be deactivated)
- Find My iPhone must be deactivated before handover
- The original charger and charging cable of the iPhone need to be returned in working condition along with the original iPhone while availing the Assured Buyback Plan. In case the Customer fails to provide the Product original box, charger and other accessories under the conditions specified above, Assured Buyback Value shall be reduced by 5% of the original Invoice Value
- In case any of the above conditions are not met, Servify or its affiliates reserve the right to reject the buyback plan redemption as per its sole discretion.
- Any warranty on the product is offered by Apple authorised reseller and any claims, issues, damages or losses with respect to the product shall be the sole responsibility and liability of Apple authorised reseller
- Servify shall not be responsible for any loss, injury or any other liability of the Products.
- Consumer needs to ensure that they close their loan with bank before the device is picked up for buyback redemption. Servify assumes no responsibility towards the bank for underlying loan taken by the consumer.
- Customer needs to initiate the buyback execution before end of 24 months while the doorstep pick / in-store buyback can be done up to 30 days from end of 24 months. Once a pick up is scheduled, you need to ensure device is handed over to logistics partner. Any delay / cancellations of pick up can leads to rejection of buyback plan redemption
- ICICI Bank assume no responsibility towards the assured buyback plan extended by Servify