If the iPhone SE's nearly-2k price seems a bit steep, then U Mobile might have an answer for you. The telco is offering the phone at RM58 a month as part of its hire-purchase U MIcroCredit scheme.
While the provider does have its own specific payment UPackage scheme for iPhones, the iPhone SE offer would be attractive to those who don't have a credit card or would prefer not to use it to buy the phone.
U Mobile's MicroCredit scheme offers phones at a monthly payment, with no deposit, collateral and credit card required. You will however need a bank account with banks supported under the scheme as the payments will be auto-debited from your account with those banks.
There is an approval process and you will need to furnish the requisite documents, such as your pay slips and identification.
Currently it looks like U Mobile might be the cheapest option to get yourself an iPhone, whatever the model you desire. As you won't be tied to a contract, you can just pay off your phone earlier if you decide to change telcos in future, which is overall not a bad deal.
[Source: U Mobile]