T-Mobile USA will roll out new lower-priced service plans for its postpaid customers on July 24, the company announced today.

The operator’s new Value plans will include the option to pay for a new device on an installment plan. Customers will be allowed to place a down payment on a device and then make interest-free payments added to their monthly bill.

The new plans could help lock in T-Mobile customers as the company waits for its merger with AT&T to be approved by government regulators.

The operator did not release full details of the plans but said they will include a $99 two-line family plan with all-you-can-eat voice and text, with 2 GB of data.

“T-Mobile is committed to making the always-on benefits of smartphones and tablets more accessible and worry-free for all Americans,” said T-Mobile marketing executive John Clelland in a statement. “Customers want to enjoy all that the mobile Web has to offer, but they don’t want to pay for more than they need or worry about bill shock.”

The new plan is cheaper than T-Mobile’s current plan, which costs about $140 for similar service. Both new and existing customers are eligible for the plans, but must sign a two-year contract.

Customers will not be charged any overage fees for exceeding their monthly cap, but T-Mobile will throttle their speeds after they hit their allotment of data. T-Mobile will also offer new plans with caps at 5 GB and 10 GB.

T-Mobile plans to rebrand its current Even More plans as its Classic plans.

T-Mobile wasn’t the only service provider to announce pricing changes today. Virgin Mobile added more messaging and data to its $30 per month payLo plan. Customers will get 1,500 messages per month, up from 500, plus 30 MB of data, up from 10 MB.