You'll be able to get it free of charge if your iPhone, iPad or iPod touch supports it and get an almost new device, in terms of software.
So how do you go about updating it? What are the things that you should keep in mind before updating?
I. Does your device support iOS 7?
iOS 7 is supported by iPhone 4, iPhone 4S and iPhone 5; iPad 2, third and fourth-generation iPads, iPad mini; and the fifth-generation iPod touch. Also, certain features of iOS may not be available on all devices. For instance, the iPhone 4S doesn't support features like AirDrop and live filters in the camera app. The iPad 3 also doesn't support AirDrop.
II. Backing up your device
If you don't regularly backup the data on your iPhone or iPad, now is a good time. You'd like your favorite apps and settings to transition to iOS 7 and for that you'll need to take a backup.
How to installed iOS 7.1 over-the-air
If you want to install the update through your PC or Mac instead, connect your device to the computer and wait for iTunes to open or fire it up manually. You'd typically get a software update prompt but if you don't just go to the device Summary page by clicking on the name of your iOS device, and click on the 'Check for Update' button, and click on Download and Update as below
Your iPhone would restart and display an Apple logo with the progress bar while it updates and iTunes will also display the status of the installation.
Thanks,,,