Only if you allocate (and pay for) more than 400GB. And if you have high traffic 24/7 beware of "EBS optimized" instances which will fall down to baseline rates

Only if you allocate (and pay for) more than 400GB. And if you have high traffic 24/7 beware of "EBS optimized" instances which will fall down to baseline rates after a certain time. I use vantage.sh/rds (not affiliated) to get an overview of the tons of instance details stretched out over several tables in AWS docs.