What is a TD Payment Plan?

Details can be found in several places:

• In the Terms & Conditions applicable to your TD Payment Plan
• In the TD Payment Plans section of EasyWeb
• On your credit card statement each month

The fee is calculated by multiplying the full purchase transaction amount by the fee percentage. The applicable Payment Plan fee will then be added to the Payment Plan balance

For example:

You recently purchased a $600 table, and you decide you want to convert the purchase to a 6-month Payment Plan with a total fee of 4%.

Here’s how you would calculate the fee for your TD Payment Plan:

• Payment Plan Fee Amount = $600 X 4% = $24

The Monthly Payment Plan Amount is calculated by taking the Total Payment Plan amount (including fee) and dividing it by the number of months for the plan.

For example:

You recently purchased a $600 table, and you decide you want to convert the purchase to a 6-month Payment Plan with a total fee of 4%.

Here’s the breakdown of your Monthly Payment Plan Amount:

• Payment Plan Fee Amount = $600 X 4% = $24
• Payment Plan balance = $624
• Monthly Payment Plan Amount (including fee) = ($600 + $24) / 6 months = $104

You don’t have to repay your Payment Plan balance in full to take advantage of the grace period for new purchases made in a Statement Period that have not been put in a Payment Plan. Here’s what you have to pay on your account by your Payment Due Date in order to avoid interest on new purchases made during a Statement Period, excluding purchases that you have put into a Payment Plan:

• The New Balance shown on your monthly statement minus your Total Payment Plans Balance(s) that are shown on that same monthly statement, plus
• Your Monthly Payment Plan Amount(s) that are due on your monthly statement.

We call this the “Grace Period Payment Amount”. Starting from the first statement we provide following the creation of a Payment Plan, we will show you the exact dollar amount you need to pay for each statement so you can benefit from the grace period on your account.

However, if you move a new purchase that has already appeared on your monthly statement into a TD Payment Plan prior to the Payment Due Date of that monthly statement, the Grace Period Payment Amount will be:

1. If you do not have an active Payment Plan on your current monthly statement: the New Balance shown on that monthly statement minus the new purchase amount(s) that were moved into a Payment Plan;
2. If you have active Payment Plan(s) on your current monthly statement: the Grace Period Payment Amount will be the Grace Period Payment Amount figure that is already shown on your monthly statement minus the new purchase amount(s) that were moved into a Payment Plan. After you convert the new purchase into a new TD Payment Plan, the amount of the new TD Payment Plan will not be included in the TD Payment Plans balance that is used to calculate the Grace Period Payment Amount that is due by the Payment Due date of that monthly statement.

TD has the right to close your Payment Plan if:

• You become a Resident of Quebec; or
• We do not receive your Required Payment by the Payment Due Date in 2 consecutive months; or
• You close your Account; or
• TD closes your Account or removes charging privileges for your Account or
• If you are not meeting the terms and conditions of the TD Payment Plan