What should I consider before purchasing a Savings Plan?

Last updated: 2022-06-27

I plan to commit to a specific amount of compute power for a long period of time. What factors should I consider before purchasing a Savings Plan?

Resolution

Consider the following when deciding if Savings Plans are right for you.

Long term contracts

Savings Plans have long contract terms (usually, one or three years). This means that you should purchase Savings Plans when you plan to commit to a consistent amount of usage over the long term.

Payment Options

Savings Plans are available in 3 different payment option:

  • No Upfront option doesn't require any upfront payment and your commitment will be charged on a monthly basis.
  • Upfront option requires at least half of your payment upfront and the remaining will be charged on a monthly basis.
  • All Upfront option offers the lowest prices and your entire commitment will be charged in one payment.

If your account is in an organization's consolidated billing family, then additional considerations might apply. For more information, see How is the pricing benefit of a Savings Plan applied across an organization's consolidated bill?

Canceling and modifying a Savings Plan

Savings Plans cannot be modified or canceled. You can increase your hourly commitment by purchasing additional Savings Plans. You can queue your Savings Plan purchases for a specific date and time in the future. For more information, see Can I schedule my Savings Plan to renew automatically?

Capacity reservations and short-term discounts

Pricing and purchasing a Savings Plan

For pricing information for Savings Plans, see Compute Savings Plans and Machine Learning Savings Plans.

To complete a Savings Plan purchase, see Purchasing Savings Plans.

To purchase Savings Plans using APIs, see Savings Plans API Reference.