UPDATE: T-Mobile notes that its Simply Prepaid plans include Wi-Fi Calling. However, it also points out that users on these plans will get max speeds of 8Mbps, with speeds being slowed to 128Kbps once you use up all of your high-speed allotment.

First came Simple Choice, and now we’ve got Simply Prepaid.

T-Mobile today revealed its new Simply Prepaid rate plan. Magenta’s latest no-contract offering includes unlimited data, talk, and text, with three tiers of high-speed data buckets. Ponying up $40 per month will get you 1GB of 4G LTE data, $50 will net you 3GB of LTE data, and $60 per month will get you 5GB of LTE data.

Simply Prepaid will be available on T-Mobile’s website and in its retail stores starting January 25. The plans seem pretty reasonable compared to the prepaid offerings from other major U.S. carriers; for example, AT&T’s $60 plan gets you unlimited talk, text, and data with 2.5GBGB of high speed, while Verizon’s got a $45 plan with unlimited talk, text, and 500MB of data.

Are you currently on a postpaid or prepaid plan?