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Rare-earth based amorphous alloys with promising glass forming ability (GFA) and considerable magnetocaloric effect (MCE) are extensively exploited for magnetic refrigeration (MR) materials. Here, the GFA, magnetic properties, MCE, and refrigeration performance of RE60Al20Ni20 (RE = Tm, Er, and Ho) amorphous ribbons were investigated. A magnetic phase transition (paramagnetic to ferromagnetic, second-order) with ignorable field and thermal hysteresis was found around TC ∼ 4.4 K for Tm60Al20Ni20, ∼9.5 K for Er60Al20Ni20, and ∼17.9 K for Ho60Al20Ni20. For a field change ΔH = 50 kOe, the MCE parameters of the maximal magnetic entropy change (around their own TC) and relative cooling power are 14.1 J/kg K and 235 J/kg for Tm60Al20Ni20, 14.3 J/kg K and 372 J/kg for Er60Al20Ni20, and 12.4 J/kg K and 460 J/kg for Ho60Al20Ni20. In addition, the temperature averaged entropy change at ΔTlift (temperature span) of 2 K and 5 K is investigated, very close values and similar field dependence with magnetic entropy change indicating that RE60Al20Ni20 (RE = Tm, Er, and Ho) has potential applications in cryogenic magnetic refrigeration. [ABSTRACT FROM AUTHOR]