Sprint has been trying hard to win over new subscribers and even steal some from its rivals but that doesn’t mean it is completely forgetting about the ones that it already has. The third largest carrier in the U.S. has announced a new program today through which existing subscribers can lease an iPhone 6 or iPhone 6 Plus for considerably less. Basically Sprint is offering “Loyalty Service Credit” to the tune of $15 per month to all existing subscribers who want to get a new iPhone 6.

Having free $15 monthly service credit on hand would mean that the cost of leasing an iPhone 6 would come down to just $5 per month whereas the cost for leasing an iPhone 6 Plus will then stand at $10 per month.

Sprint has said that eligible and qualified subscribers will be able to take advantage of this program between now and January 15th, 2015. The new iPhones have to be leased through the carrier’s “iPhone for Life” program in order to get the $15 free monthly credit.

Under the program subscribers have to pay $20 per month for a base 16GB iPhone 6 model, $10 less than they would if they opted for conventional financing. The cost of leasing is paid on top of the service plan. After two years customers can then send the iPhone back and lease another device without having to put any money upfront.

Filed in Cellphones. Read more about , and .