Microsoft has launched a cheaper version of its Office 365 product in the US, called Office 365 Personal.

The Personal version is now the entry level for Office 365, a designation that was once given to Home Premium - now called Home. Personal costs $6.99 per month, or $70 per year, compared to Home's $100 (£79.99) per year. As you'd expect, Personal tones down on the number of devices you can use it on.

Office 365 Personal enables users to install the Office 2013 suite on PC and one tablet, compared to Home's five computers and a smartphone. Word, Excel, PowerPoint, Outlook, OneNote, Publisher, and Access are the applications made available, along with Office Web Apps access to work through the browser. 

Personal subscribers will also be given 20GB of Skydrive storage and 60 minutes of Skype calls per-month.

"We recognise that there are households of all shapes and sizes and we’re committed to delivering the right Office for everyone – whether that be one person or an entire household," Microsoft wrote on its blog. 

Microsoft switched to the Office 365 pricing scheme in 2013, which the company says keeps users readily open for updates. A full version of Office, that can work with five computers, can be purchased for a one time $140 payment. You just won't get the updates down the line, and will have to pay for the new, full version (Office 2015).

We're working for more details if the Personal version will be made available outside of the US.