dual-sim Android One phones available on contract

I have heard of this, how does this work?
It's a normal Credit card transaction.

The other option you can use is Mobicred - you would have seen this on takealot - you sign up and you have up to a year to pay off the phone.
 
It's a normal Credit card transaction.

The other option you can use is Mobicred - you would have seen this on takealot - you sign up and you have up to a year to pay off the phone.

Okay but that would be at a big interest rate
 
Unfortunately yes, I think 21% for both, sometimes credit cards offer a slightly lower interest rate.

If u pay it off real quick, do you pay less or still the items amount + 20%?
 
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