TD Bank Group (TD) today announced the launch of TD Payment Plans, a new credit card feature available to eligible TD cardholders with EasyWeb online banking access.
With TD Payment Plans, eligible TD cardholders can enroll qualifying purchases of $100 or more into equalized monthly payments, with 6,12, or 18-month term options.
"We know our customers are looking for more convenience and flexibility, especially when it comes to managing their monthly expenses," says Meg McKee, Senior Vice President, Canadian Card Payments, Loyalty and Personal Lending. "With the launch of TD Payment Plans, we're excited to offer more choice in how customers pay for purchases, and more control over their budgets. Whether they're looking to purchase a big-ticket item, or simply seeking another option to help control cashflow, this new feature is designed to help make payments feel more manageable."
TD Payment Plans can support cashflow management by enabling a fixed payment schedule to pay for eligible credit card purchases for a fee or a lower interest rate. Additionally, cardholders can continue to enjoy their existing credit card benefits for their purchases, such as applicable rewards and insurances, and can pay off a plan at any time without penalties regardless of the length of the term they have chosen.
Currently available on EasyWeb, the capability will roll-out to the TD Mobile App in the coming months. Primary cardholders can set-up and manage a TD Payment Plan at their convenience in just a few simple steps.