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AWS Savings Plans is a flexible pricing model offering discounted compute rates in exchange for a commitment to a consistent amount of usage measured in $/hour for 1- or 3-year terms. It provides two plan types: Compute Savings Plans, which offer up to 66% savings across EC2, Lambda, and Fargate usage, and EC2 Instance Savings Plans, which provide up to 72% savings for usage of specific instance families within a region.
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