Google Drive adds annual payment options for bigger discounts on storage

Sometimes you know you want to keep a lot of cloud storage on hand, but don’t want to fool around with paying for it month to month. Thankfully, Google is adding new payment options to two of its Google Drive storage tiers that will allow users to pay with one annual fee.

The new annual payment options are only available, at least for now, for the 100GB and 1TB tiers in Google Drive. You can pay just $19.99 a year for the 100GB tier, which saves you 16 percent versus paying at $1.99 a month. The 1TB option is also available for $99.99 a year, a 17-percent savings compared to its normal $9.99 a month plan.

So far, Google has not yet extended these annual payment plans to the other Google Drive storage tiers. They are already pretty expensive with their current monthly options, with the 10TB tier costing $99.99 a month, the 20TB tier costing $199.99 a month and the big 30TB option costing a whopping $299.99 a month.

Just for comparison’s sake, you can also get 1TB of cloud storage on Dropbox for $99.99 a year, or you can get the same amount on Microsoft’s OneDrive service for as low as $69.99 a year if you sign up for Office 365 Personal.