What is the difference between REserved instance and saving plan?

Question

HARI Kannan · Accepted Answer

1)Reserved Instances are a billing feature that allow you to commit to using specific instance types and configurations for a set term (1 or 3 years). 2)Savings Plans are a more flexible pricing model that offers savings over on-demand prices in exchange for a commitment to spend a certain amount of money over a 1 or 3-year period.

What is the difference between REserved instance and saving plan?

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