Savings Plans is a flexible pricing model that provides savings of up to 72% on your AWS compute usage. This pricing model offers lower prices on Amazon EC2 instances usage, regardless of instance family, size, OS, tenancy or AWS Region, and also applies to AWS Fargate and AWS Lambda usage.
Savings Plans offer significant savings over On Demand, just like EC2 Reserved Instances, in exchange for a commitment to use a specific amount of compute power (measured in $/hour) for a one or three year period. You can sign up for Savings Plans for a 1- or 3-year term and easily manage your plans by taking advantage of recommendations, performance reporting and budget alerts in the AWS Cost Explorer.
As you change your usage across Amazon EC2, AWS Fargate, and AWS Lambda, Savings Plans will automatically apply to that usage. This provides you the flexibility to use the compute option that best suits your need and continue to save money. You also have the option to select different types of plans, term length and payment options based on your requirements.
Savings Plans offers up to 72% savings in exchange for a commitment to consistent amount of usage for a 1- or 3-year term.
Easy to use
Savings Plans is the easiest way to save on compute usage. You can sign up for Savings Plans in two simple steps using the AWS Cost Explorer: first, customize your Savings Plans recommendations based on your requirements and then add to the cart to purchase a plan.
How it works
“Capital One adopted Savings Plans across all our workloads and accounts, which allowed us to increase our utilization compared to Reserved Instances. We no longer need to worry about adjusting our Reserved Instances when our infrastructure needs change, Savings Plans automatically reallocates each hour to maximize our utilization. The change has allowed us to increase savings by 20%. We look forward to continuing to roll out Savings Plans as the rest of our Reserved Instances expire.”
Don Reid, Sr. Manager, Technology, Capital One