Thanks to the company's new "Uncarrier" plans, the iPhone 5 will sell with two options. You can purchase the device at full price at time of purchase, or purchase it for $99 upfront and pay out $20 a month for 24 months, for a total of $579 over two years.
If you want an iPhone 4 or 4S, the installment plan cost is just $15 or $70 down with a $15 or $20 monthly charge, respectively.
T-Mobile also notes that the iPhone 5 will support "HD Voice," which the company defines as high definition voice calling with background noise reduction.
"This is an important day for people who love their iPhone but can't stand the pain other carriers put them through to own one," said John Legere, president and CEO of T-Mobile USA. "We feel their pain. I've felt the pain. So we're rewriting the rules of wireless to provide a radically simple, affordable iPhone 5 experience -- on an extremely powerful network."