T-Mobile's new contract-free value plans just went live, and all of them include unlimited calling and unlimited texting for exciting prices.

The cheapest plan available sports a $50 price tag, which will get customers unlimited talk, text and 500MB of data. Those who want to increase their data cap can do so for an extra $10. This means that the 2GB plan costs $60, 4GB will go up to $70, and so on.

Once customers reach their data limit, their data will be automatically throttled back to 2G speeds. All of the tiered data plans also come with free Mobile Hotspot, which means users can tether their phone to a laptop or PC.

The rates do not include the additional fee customers may pay for their smartphone. Basically, instead of a subsidy customers may pay a small monthly fee in addition to their phone bill each month until they pay off their smartphone. The difference is that while paying a carrier under contract results in higher monthly fees, with these plans the fees stop once the customer pays off the phone.

T-Mobile may remove phone subsidies, but it still makes it easy for its customers to afford high-end smartphones for affordable prices. The Samsung Galaxy S3, for instance, will require a down payment of just $69.99, and additional $20 payments spread across 24 months. The down payments and subsequent monthly payments vary depending on device. To avoid such fees, customers can pay the full price of the phone up front.

As so-called prepaid plans prove to be increasingly popular compared to the traditional contract model, T-Mobile gradually shifted its focus toward this trend. The carrier consistently lost contract customers over the last few years, as some switched to prepaid and others left for the larger carriers.

T-Mobile's new contract-free plans come ahead of the press event the carrier has planned for Tuesday, March 26. The company will likely discuss these contract-free options, as well as other ways in which it plans to step up its game in the wireless market. T-Mobile will likely provide an update on its 4G LTE rollout plans as well.