What are the differences between Standard and Convertible Reserved Instances?
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I'm interested in using an Amazon Elastic Compute Cloud (Amazon EC2) Reserved Instance. What are the differences between a Standard Reserved Instance and a Convertible Reserved Instance?
The size of the discount you receive by using Reserved Instances depends on whether you're using a Standard Reserve Instance or a Convertible Reserve Instance:
Standard RIs provide the largest discount for a specific instance type over a long-term contract.
Convertible RIs provide a smaller discount, but let you change to certain other instance types during the contract. You can also change other attributes during the contract. For more information, see Exchange Convertible Reserved Instances.