Savings Plans is a flexible pricing model offering lower prices compared to On-Demand pricing, in exchange for a specific usage commitment (measured in $/hour) for a set period. You can sign up for a Savings Plans in AWS Cost Explorer and manage your plans by taking advantage of recommendations, performance reporting, and budget alerts. 

AWS offers four types of Savings Plans: (1) Compute Savings Plans, (2) EC2 Instance Savings Plans, (3) Database Savings Plans, (4) Amazon Sagemaker Savings Plans.

 

Additional Information

For additional information about service controls, security features and functionalities, including, as applicable, information about storing, retrieving, modifying, restricting, and deleting data, please see https://docs.aws.amazon.com/index.html. This additional information does not form part of the Documentation for purposes of the AWS Customer Agreement available at http://aws.amazon.com/agreement, or other agreement between you and AWS governing your use of AWS’s services.