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TD Launches Flexible Payment Plans For Eligible Card Holders

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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.

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