(RTTNews) - Canada-headquartered The Toronto-Dominion Bank (TD) on Tuesday announced the launch of TD Payment Plans, a new credit card feature that would provide eligible TD cardholders the flexibility to turn purchases into smaller equal monthly payments.
Accordingly, customers would be able to enroll qualifying purchases of $100 or more into equalized monthly payments, with 6,12, or 18-month term options.
The same would be currently available with EasyWeb online banking access. The capability is expected to be rolled-out to the TD Mobile App in the coming months.
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.
Shares of The Toronto-Dominion Bank closed Monday's trading at $70.05, down $1.66 or 2.31 percent from the previous close.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
