Fido this morning has introduced new Tab24 and Tab36 plans, to replace their standard 2 and 3 year term agreements. These new tab plans are similar to how the Rogers FlexTab works. The company sent us a breakdown of how it all works:
- Choose a smartphone with an eligible term plan – the price and savings will depend on the device you choose, but we’ll spot the majority of the upfront full device cost. The remaining amount is your Fido Tab24 or Tab36 balance.
- Every month into your term, the Tab24 balance automatically decreases
- Want to upgrade your smartphone? Simply pay off the Tab24 or Tab 36 balance and you’ll be eligible to upgrade to the device you want
The fine print on Fido’s website reads: “Tab24/Tab36 corresponds to the Fido Agreement described in your agreement.Tab24/Tab36 balance corresponds to sum of Device savings recovery fee and/or service deactivation fee stated in your agreement.”
Below is an example of how Tab balances are calculated, taken from the Rogers FlexTab page, which you can apply to any device. Below is what your tab would look like if your smartphone costs $599 outright:
FLEXtab Balance = Month-to-month price ($599) – term price ($49.99) ÷ term length in months (36) x number of months remaining (24).
These new tab plans bring Fido customers in line with what is already being offered at Koodo and Virgin Mobile. Thoughts on moving from contracts to these these new tab plans?
Update: Taken from the Rogers website, here is what a scenario would be if you wanted to upgrade and you are on a Tab plan: