After welcoming iPhone customers to its network for the past couple of years, T-Mobile USA is finally going to be offering the iPhone 5 on their network – with no contract.

Qualifying customers will be able to purchase an iPhone 5 for $99.99 down, and $20 per month.

T-Mobile’s new Simple Choice Plan starts with a base rate of $50 per month for unlimited talk, text and Web with 500MB of 4G data. Consumers can add 2GB of 4G data for $10 per month per line or get unlimited 4G data for an additional $20 per month per line. Customers can add a second phone line for $30 per month, and each additional line is just $10 per month. There are no caps and no overages.

That means that two lines on a fully unlimited plan would come in at $100/month – or $35/month less than I was paying on AT&T, and data on AT&T was capped at 2GB

T-Mobile official announcement