The HDFC Bank offer is inclusive of cash back of Rs 3,600 on HDFC Bank Debit and Credit Cards, according to Apple.
The affordable second-generation iPhone SE with 4.7-inch Retina HD display, paired with Touch ID for industry-leading security, starts at Rs 42,500.
"Our partners will offer the powerful and affordable new iPhone SE," in India, according to the Cupertino-based company.
The new iPhone SE will be available in 64GB, 128GB and 256GB models in black, white and (PRODUCT)RED through Apple Authorised Resellers and select carriers.
According to Navkendar Singh, Research Director, IDC India, this device will certainly appeal to a lot of Android mid-segment users who cannot afford a flagship iPhone.
"I should certainly find volumes immediately when it is launched since this will be the most affordable new iPhone and cheapest way to enter Apple ecosystem," Singh told IANS.
The new iPhone SE is powered by the Apple-designed A13 Bionic, the fastest chip in a smartphone and features the best single-camera system ever in an iPhone.
iPhone SE features an aerospace-grade aluminum and durable glass design with an all-black front.
The device also features the familiar Home button designed with sapphire crystal to be durable and to protect the sensor, and a steel ring to detect a user's fingerprint for Touch ID.
iPhone SE is wireless-charging capable with Qi-certified chargers and also supports fast-charging, giving customers up to 50 per cent charge in just 30 minutes.
It comes with Dual SIM with eSIM provides the flexibility for users to have two separate phone numbers on a single device while traveling abroad or for use as a business line.
iPhone SE features the best single-camera system ever in an iPhone with a 12MP f/1.8 aperture Wide camera, and uses the image signal processor and Neural Engine of A13 Bionic to unlock computational photography, including Portrait mode, all six Portrait Lighting effects and Depth Control.