Choose your iPhoneiPhone 11 through 17 series
Formex Easy BuyiPhones only
Own the iPhone you want. Pay small small.
Choose your iPhone, start with a 40% initial deposit, and estimate repayments over 1 to 3 months. Monthly is the default; eligible iPhone 11 and 12 offers may also show weekly or bi-weekly options.
1–3 months
Flexible by iPhone series
40% minimum deposit
Easy Buy eligibleChoose your iPhoneSubject to stock and approval
Repay fromWeekly
Duration1–3 months
Start with40%
Pick your scheduleMonthly by default · eligible 11/12: extra options
Complete verificationMay involve BVN or NIN
Pay over timeFlexible 1–3 month duration
Deposit first, repayments second
How much do you need to start?
The initial deposit is 40% of the confirmed iPhone price. The remaining 60% is used for the repayment estimate.
40%
Down payment
All listed iPhone series
Your initial deposit is 40% of the confirmed device price. This is the first amount to plan for.
Estimate this plan →Calculated second
60%
Remaining balance
After the initial deposit
The remaining 60% becomes the balance used for your repayment estimate.
Estimate this plan →1–3
Months
Monthly by default
Eligible iPhone 11 and iPhone 12 offers may also show weekly or bi-weekly repayment choices.
Estimate this plan →Current guide prices
Choose a listed iPhone and calculate your plan.
These prices help you estimate your deposit and repayments. Use the search box to find a model, then select “Calculate this phone” to load its price into the calculator.
How the repayment is calculated
The deposit comes off first. The multiplier applies only to the balance.
First calculate the initial deposit from the confirmed phone price. Subtract that deposit to get the balance. The balance is then multiplied by the factor for your chosen duration.
Initial deposit
Phone price × required deposit percentage
Balance
Phone price − initial deposit
Total balance repayment
Balance × duration multiplier
Each instalment
Total balance repayment ÷ number of payments
This adds 20% of the balance as the plan cost. For monthly repayment, the full result is due in one payment.
This adds 40% of the balance as the plan cost. Monthly amount = total balance repayment ÷ 2.
This adds 60% of the balance as the plan cost. Monthly amount = total balance repayment ÷ 3.
Worked example
iPhone 11 64GB at ₦230,000
The iPhone 11 Series requires a 40% initial deposit: ₦230,000 × 40% = ₦92,000. The balance is ₦138,000.
| Duration | Balance calculation | Estimated monthly amount |
|---|---|---|
| 1 month | ₦138,000 × 1.2 = ₦165,600 | ₦165,600 |
| 2 months | ₦138,000 × 1.4 = ₦193,200 | ₦96,600 |
| 3 months | ₦138,000 × 1.6 = ₦220,800 | ₦73,600 |
The calculator below covers all available 1-, 2-, and 3-month repayment multipliers. Review the full calculation breakdown before applying.
Easy Buy calculator
See what your plan could look like.
Select a listed phone and a repayment duration. The calculator removes your initial deposit first, applies the correct multiplier to the balance, then divides the result by your chosen payment schedule.
- 1 month: balance × 1.2.
- 2 months: balance × 1.4.
- 3 months: balance × 1.6.
- Verification may involve a valid BVN or NIN. FORMEX will confirm the current requirements.
How it works
From “I want this iPhone” to an approved plan.
Choose your iPhone
Chat with Formex to confirm the model, storage, condition, current price, and availability.
Choose how to repay
Choose a 1-, 2-, or 3-month duration. Monthly is the default; eligible iPhone 11 and 12 offers may show weekly or bi-weekly options.
Complete verification
Verification may involve a valid BVN or NIN. FORMEX will confirm the current requirements.
Get your final terms
Formex verifies your information and confirms your deposit, due dates, repayment amount, and collection terms.
Application requirements
Confirm the requirements before you apply.
FORMEX will explain the current verification steps for your application.
BVN or NIN
Verification may involve one of these identity details.
Confirmed phone
Choose the exact model, storage, condition and current price.
Selected duration
Choose a one-, two- or three-month estimate.
40% initial deposit
Calculated from the device price FORMEX confirms.
Repayment schedule by series
Your available payment schedule depends on the iPhone.
Choose a duration of 1, 2, or 3 months. The calculator automatically shows only the repayment schedules available for your selected series.
Monthly
Pay one estimated instalment each month for your selected 1-, 2-, or 3-month duration.
Weekly
The total balance repayment is divided into four estimated instalments per month.
Bi-Weekly
The total balance repayment is divided into two estimated instalments per month.
A real store you can visit
Apply with Formex Communication in Computer Village.
Ask about listed iPhone, Samsung and Google Pixel phones, laptops, accessories and smartwatches, with pickup in Ikeja or delivery in Nigeria.
Visit: 1 Ola Ayeni Street, Off Simbiat Abiola Way, Ikeja, Computer Village, Lagos, Nigeria Call or WhatsApp: 0906 069 9096Easy Buy FAQs
Questions before you apply?
What does Easy Buy mean?
Easy Buy lets eligible customers make a down payment on an iPhone and repay the balance in smaller installments over an approved period.
What is the minimum down payment?
The initial deposit is 40% of the confirmed iPhone price.
How often can I pay?
Monthly is the default. Eligible iPhone 11 and 12 offers may also show weekly or bi-weekly options. FORMEX confirms the final schedule.
How is the repayment calculated?
The initial deposit is deducted from the confirmed phone price first. The remaining balance is multiplied by 1.2 for one month, 1.4 for two months, or 1.6 for three months. That total is then divided by the number of weekly, 14-day, or monthly payments.
How long can the plan run?
Easy Buy plans run for 1, 2, or 3 months, subject to verification and Formex’s final approval.
What may be needed for verification?
Verification may involve a BVN or NIN. FORMEX will explain the current requirements before you submit information.
Does the calculator guarantee approval?
No. It is only a planning estimate. Formex will confirm the device price, any fees, repayment amount, dates, eligibility, and collection terms before you agree.
Ready to apply?
Your next iPhone can start with one WhatsApp message.
Tell Formex the iPhone series you want, your selected duration, and the repayment schedule available for that series. You will receive the current price and next steps.
Easy Buy is subject to verification and approval. Final prices, fees, due dates, eligibility and device collection terms are provided by Formex Communication before commitment. An estimate never guarantees approval.