Here’s the cheapest hard drive per TB right now

WD Elements 12TB hard disk drive - $219.99
This 12TB hard disk drive from Western Digital is already available at a discount, but you can make an even greater saving by taking advantage of WD's recycling scheme (see below).View Deal

The WD Elements desktop hard disk drive is the most affordable hard drive on the market, regardless of form factor (2.5-inch or 3.5-inch) and type (internal or external).

At $220, the 12TB version (WDBWLG0120HBK) is already a bargain and it's the cheapest per TB across the range. However, using the trick described below, you can shave another 15% off the price, bringing the cost to just under $187. That's a mere $15.58 per Terabyte - the lowest we’ve seen in a year (since last Amazon Prime Day, actually).

The WD Elements range provides reliable high capacity storage with USB 2.0 and USB 3.0 compatibility. The drives come with a two-year warranty and have been formatted to NTFS. This device is likely to have a 3.5-inch 5400RPM drive spinning inside, which makes it perfect for backup storage.

• Here's our list of the best external hard drives out there
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• Check out our list of the best USB flash drives on the market

A few brave souls have also managed to extract a WD120EMFZ drive from the Elements external hard drive. The model has a 256MB cache and would be comparable to the 12TB WD RED NAS hard drive,  which costs $330 - a whopping 50% premium on the original drive.

WD 15% discount trick

A little-known scheme from Western Digital allows you to save up to 15% off your next purchase from the company’s online store (provided you spend $50 or more).

In a nutshell, send over an old external or internal SSD or hard disk drive for recycling (doesn’t matter if it is in working order) and you'll get a coupon code via email in return.

The entire process can take about two weeks and is described in further detail on this page. Now, if you are willing to jump through the hoops, you can grab yourself an amazing bargain - just make sure you read all the T&Cs. 

• Here's our choice of the best rugged hard drives around

Bear in mind

• If you've managed to get hold of a cheaper product with equivalent specifications, in stock and brand new, let us know and we'll tip our hat to you.