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Discount (up to 75%) On Amazon EC2 Reserved Instances (RI) compared to On-Demand Instances pricing.

Amazon EC2 Reserved Instances (RI) provide a significant discount (up to 75%) compared to On-Demand pricing and provide a capacity reservation when used in a specific Availability Zone.
Why Should I Use RIs?

Save Money and Maintain Flexibility

RIs provide you with a significant discount (up to 75%) compared to On-Demand instance pricing. You have the flexibility to change families, OS types, and tenancies while benefitting from RI pricing when you use Convertible RIs.

Reserve Capacity
RIs can provide a capacity reservation, offering additional confidence in your ability to launch the number of instances you have reserved when you need them.

How do RIs Work?

EC2 RIs provide a discounted hourly rate and an optional capacity reservation for EC2 instances. AWS Billing automatically applies your RI’s discounted rate when attributes of EC2 instance usage match attributes of an active RI.

If an Availability Zone is specified, EC2 reserves capacity matching the attributes of the RI. The capacity reservation of an RI is automatically utilized by running instances matching these attributes

Amazon EC2 RI Types

With RIs, you can choose the type that best fits your applications needs.

Standard RIs: These provide the most significant discount (up to 75% off On-Demand) and are best suited for steady-state usage.

Convertible RIs: These provide a discount (up to 54% off On-Demand) and the capability to change the attributes of the RI as long as the exchange results in the creation of Reserved Instances of equal or greater value. Like Standard RIs, Convertible RIs are best suited for steady-state usage.

Scheduled RIs: These are available to launch within the time windows you reserve. This option allows you to match your capacity reservation to a predictable recurring schedule that only requires a fraction of a day, a week, or a month.

Standard and Convertible RI Payment Attributes
Offering class: There are two classes of RIs: Convertible and Standard. Convertible RIs can be exchanged for different Convertible RIs of equal or greater value.
Term: AWS offers Standard RIs for 1-year or 3-year terms. Reserved Instance Marketplace sellers also offer RIs often with shorter terms. AWS offers Convertible RIs for 1-year or 3-year terms.
Payment option: You can choose between three payment options: All Upfront, Partial Upfront, and No Upfront. If you choose the Partial or No Upfront payment option, the remaining balance will be due in monthly increments over the term.

RI Attributes
When the attributes of the RI match the attributes of a used instance, the discount of the RI is applied and the capacity reservation is utilized. These attributes are:

Instance type: Instance types comprise varying combinations of CPU, memory, storage, and networking capacity. For example, m4.2xlarge.
Platform description: RIs can be purchased for Amazon EC2 instances running Linux/UNIX, SUSE Linux, Red Hat Enterprise Linux, Microsoft Windows Server, and Microsoft SQL Server platforms.

Tenancy: If you are using instances with a default tenancy, purchase default tenancy Reserved Instances. If you are using dedicated instances, purchase Reserved Instances with a tenancy of dedicated.

Availability Zone (optional): By selecting an Availability Zone, the RI you purchase will provide a capacity reservation and a discount for the use of instances in the selected Availability Zone. When an Availability Zone isn’t specified, the RI discount will apply to a running instance of any size (within the same family) in the region. As an example, let’s say you own an m4.2xlarge Linux/UNIX RI with default tenancy in US East (N.Virginia). Then this RI’s discounted rate can automatically apply to two m4.xlarge instances in us-east-1a or four m4.large instances in us-east-1b.

How to Purchase Reserved Instances

Buying a Reserved Instance is easy using the AWS Management Console.

1. Log in to the AWS Management Console.

2. In the Amazon Web Services menu choose “EC2”.

3. In the left navigation pane, choose “Reserved Instances”.
Choose “Purchase Reserved Instances”.

4. Select your Reserved Instance type, platform, payment option, instance type, offering class, and term length. Optionally, check the "Only show offerings that reserve capacity" box to select an Availability Zone, if you want to reserve capacity.

5. Adjust the quantity of instances to purchase and ensure you are comfortable with the price quoted.
Confirm your purchase.

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Discount (up to 75%) On Amazon EC2 Reserved Instances (RI) compared to On-Demand Instances pricing. Discount (up to 75%) On Amazon EC2 Reserved Instances (RI) compared to On-Demand Instances pricing. Reviewed by Raj on April 01, 2019 Rating: 5

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