During the company's Q4 FY19 earnings call, CEO Tim Cook announced that Apple will soon offer customers the ability to purchase an iPhone with 0% interest when using Apple Card.
Recently, the company updated its Wallet app to detail how these payments will work. You can find this by tapping 'Learn More' under the payment screen.
Apple Card Monthly Installments
If you are paying for your iPhone with Apple Card Monthly Installments, each month your installment is included in the minimum payment amount.
Installments are not subject o interest like other purchases made with Apple Card. If you pay more toward your installment balance, you may reduce the overall number of payments, but are still scheduled to pay your installment payment the following month. Paying the total balance will include the total amount you've spent with Apple Card, including your remaining iPhone balance.
The update indicates Apple will go live with this new installment plan soon. Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more details as they become available.