Cost Reduction with Savings Plan
The Savings Plan offers a 20% discount for a one-year upfront payment. Once enrolled, your compute usage is billed using discounted credits, and any usage exceeding your commitment is billed at regular on-demand rates.
To get started, we require a forecast of your estimated expenditure over the next 12 months. This involves multiplying your average monthly bill by 12 calendar months, allowing us to provide an accurate quote for prepayment, enabling you to save 20% on your total costs. To add a Savings Plan to your account, please contact support@meteor.com.
Savings Plans are automatically renewed for the following year. To modify your upfront payment, please contact us via email. To cancel the plan, inform us at least one month before the end of the plan period.
You can increase your commitment by purchasing additional credits, allowing you to continue saving as you grow. Please contact support@meteor.com for more information.
Savings Plans cannot be canceled, and prepaid amounts are non-refundable. An exception is made if you decide not to continue with the plan shortly after renewal, provided you inform us within a few days of the renewal date.
Even though you make a one-year upfront payment, our billing system calculates your costs on a monthly basis. Your payment is divided into twelve monthly credits, with one credit being made available each month.
For example, if you pay $6,000 upfront, your credits are split equally by month, providing you with a $500 monthly credit. If you spend less than the credit amount, the remaining amount does not carry over to the next month. If you spend more than the monthly credit, you will be charged for the excess usage.
Galaxy Savings Plan credits are applied on a daily basis. When you subscribe to a Savings Plan, the system automatically prorates credits according to the following method:
Monthly allocation: Total annual payment ÷ 12 months
Daily allocation: Monthly credit ÷ Days in month
Example scenario:
Annual Savings Plan: $108 ($9/month)
Subscription start date: December 11
Days remaining in December: 21 days
Daily credit: $9 ÷ 31 days = ~$0.29 per day
Credit applied for December: 21 days × ~$0.29 = ~$6.18
Since our billing model is based on hourly charges, minor variations in daily and monthly totals may occur.
Before purchasing a Savings Plan, consider your long-term usage needs and ensure you plan to commit to a consistent amount of usage over that period. It is recommended to be conservative with your upfront payment, as you can always add additional credits later once you have a better understanding of your growth expectations.
How do I get started with Savings Plans?
To get started, we require a forecast of your estimated expenditure over the next 12 months. This involves multiplying your average monthly bill by 12 calendar months, allowing us to provide an accurate quote for prepayment, enabling you to save 20% on your total costs. To add a Savings Plan to your account, please contact support@meteor.com.
Renewing the Savings Plans for the next year
Savings Plans are automatically renewed for the following year. To modify your upfront payment, please contact us via email. To cancel the plan, inform us at least one month before the end of the plan period.
Modifying a Savings Plan
You can increase your commitment by purchasing additional credits, allowing you to continue saving as you grow. Please contact support@meteor.com for more information.
Canceling a Savings Plan
Savings Plans cannot be canceled, and prepaid amounts are non-refundable. An exception is made if you decide not to continue with the plan shortly after renewal, provided you inform us within a few days of the renewal date.
How the Savings Plan credit is used monthly
Even though you make a one-year upfront payment, our billing system calculates your costs on a monthly basis. Your payment is divided into twelve monthly credits, with one credit being made available each month.
For example, if you pay $6,000 upfront, your credits are split equally by month, providing you with a $500 monthly credit. If you spend less than the credit amount, the remaining amount does not carry over to the next month. If you spend more than the monthly credit, you will be charged for the excess usage.
Daily Credit Calculation
Galaxy Savings Plan credits are applied on a daily basis. When you subscribe to a Savings Plan, the system automatically prorates credits according to the following method:
Monthly allocation: Total annual payment ÷ 12 months
Daily allocation: Monthly credit ÷ Days in month
Example scenario:
Annual Savings Plan: $108 ($9/month)
Subscription start date: December 11
Days remaining in December: 21 days
Daily credit: $9 ÷ 31 days = ~$0.29 per day
Credit applied for December: 21 days × ~$0.29 = ~$6.18
Since our billing model is based on hourly charges, minor variations in daily and monthly totals may occur.
What should I consider before purchasing a Savings Plan?
Before purchasing a Savings Plan, consider your long-term usage needs and ensure you plan to commit to a consistent amount of usage over that period. It is recommended to be conservative with your upfront payment, as you can always add additional credits later once you have a better understanding of your growth expectations.
Updated on: 14/04/2025