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New telco offers $25 iPhone plans - with the phone included

New telco offers cheap iPhone plans. Source: Getty

Macquarie Bank has finally launched its new phone plan service, Nu Mobile, and it’s set to shake up the telco industry.

Rumours of a new competitor first swirled in April this year, when the Australian Financial Review reported Macquarie Bank had “soft launched” the product, but now it’s finally here.

The Nu Mobile website, which previously said “coming soon” and “the nu way”, now says “Celebrate change. The nu way is here”.

But Nu Mobile isn’t your typical telco - it’s a phone plan service like any other, but it cuts handset costs dramatically by offering second-hand smartphones.

You can opt to keep your phone, or you can ask to return or swap your phone at any time, and all phones also come with a 12-month device warranty.

What’s on offer?

If you don’t discriminate with your iPhones, you can opt for an iPhone 7 with 32GB of data, which will cost you just $15 per month over 24 months for the handset.

An iPhone 7 on Nu Mobile costs just $15 per month. Source: Nu Mobile

An iPhone 8 handset will set you back $25 per month, while an iPhone X handset will cost you $45 per month.

Once you’ve picked your handset, you can choose any data plan that suits you - which can cost anywhere between $10 for 1GB per month, $20 for 4GB per month, or up to $50 for 40GB per month.

If you opt for the iPhone 7 with 1GB of data, you’ll be paying just $25 for your iPhone plan.

What am I really saving?

An iPhone 8 handset with Vodafone will cost you $40.50 per month, and data plans on top start from $35 for 5GB per month or $45 for 30GB per month.

An iPhone XS handset with the same carrier will set you back $51 per month over 24 months, and you can add the same data plans on top.

So, while an iPhone 8 plan with a regular telco could cost you around $75.50 per month, it’ll cost you just $45 per month with Nu Mobile.

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