Samsung has launched its own Upgrade Program alongside the Galaxy S7 and Galaxy S7 edge to make it easier for fans to get their hands on its latest devices.

It comes in response to Apple’s iPhone Upgrade Program, but it’s nowhere near as good.

The Samsung Upgrade Program lets you buy the new Galaxy S7 or S7 edge and spread the full cost of the device over 24 months. It’s ideal for those who are already tied into a contract, or those who want to avoid a contract.

But there are some big caveats.

Firstly, the Samsung Upgrade Program isn’t available to all; it currently appears to be on offer in select markets only, such as the U.K. In addition, while Apple doesn’t charge its customers any interest on the iPhone, Samsung charges a whopping 14.9 percent.

So, if you buy the Galaxy S7 for £569 in the U.K., you have to pay a deposit of £56.90 upfront, then 24 monthly payments of £24.58. Over 24 months, the total amount you will pay is £646.82 — £77.82 more than the standard cost of the Galaxy S7.

If you can, then, it’s best to pay the full cost of your Galaxy S7 or S7 edge upfront when you order it. If you can’t, it’s probably better to wait a little while; Samsung smartphones have a tendency to see big price just months after they launch.

For more information on the Samsung Upgrade Program, visit the company’s website via the source link below; you’ll find the details at the bottom of the Galaxy S7 page.

• SourceSamsung