Google Drive has been the cloud repository of choice for many people since it launched back in 2012, and now the company is dropping prices to make it even more attractive. While users will still get 15GB for free, the 100GB package now costs $1.99 a month, down from $4.99. What's more, the 1TB option has received more than a 50 percent price cut: it now costs $9.99 per month, a big drop from its previous rate of $49.99. Need even more room? 10TB+ plans start at $100 a month. Best of all, if you're already paying for Drive storage, you'll automatically be converted to a better plan at no additional cost and the storage still spans Drive, Gmail and Google+ Photos.

All told, compared to Dropbox, at least, Google's new rates are quite tempting: Dropbox offers just 2GB for free, and charges $10 a month for 100GB. Business plans, meanwhile, start at $15 per user per month. The first two tiers do allow for added space for free based on referrals, one gigabyte at a time.

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Google Drive's reduced rates make cloud storage even more affordable