Google is bringing annual billing to Google Drive, starting with only the 100GB and 1TB tiers. Previously, those who purchased storage through Google Drive had to pay on a per-month basis.
Bringing annual billing to Google Drive is actually quite nice. First, it’s much easier to just purchase a year or couple years worth of storage at a time instead of having $2 deducted from your account per month.
Annual billing is only available for the 100GB and 1TB tiers right now. We’re sure Google will add annual billing for more tiers in the future, but starting with these tiers isn’t bad. They’re the most feasible options for the average consumer that keeps their files in the Cloud.
It also brings a nice benefit: storage discounts. Before, you had to pay a flat $2 or $10 per month for the 100GB and 1TB tier, respectively. Now, when you choose annual billing, you can a 16% or 17% discount on your storage. That said, instead of paying $24 per year for the 100GB plan, you’ll only pay $20. Instead of paying $120 per year for the 1TB plan, you’ll only pay $100.
Keep in mind that, according to Android Police, annual plans don’t appear to be available for Google Apps accounts just yet. So, this is probably a slower rollout, meaning everyone will see the annual plan billing option over the next couple of weeks.