Can it be paid yearly??

No, your iCloud subscription can only be paid monthly, which is convenient as you can adapt your subscription every month to match your needs.

That can only be done by using Apple ID balance to prepay it; click here and see what options are available in your country. It'll be applied first whenever allowed, not just for the subscription.

If you choose gift cards, don't redeem them until just before the payments come due.

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