Microsoft Office 365 Personal is now available for $89 per year or at a monthly rate of $9 per month.
The Office 365 Personal subscription allows for one PC, Mac or tablet to be connected to the service, and users will also receive an extra 20GB of storage and 60 minutes of monthly worldwide Skype calling time.
For families looking to connect multiple devices to the same subscription, you can opt for Microsoft Office 365 Home instead, which enables up to five devices to be connected to one subscription for $119 per year or $12 per month.
"By offering Office 365 Personal, in addition to Office 365 Home, we are better positioned to deliver the right Office to a broader range of households - whether it's an individual or a family of five," Microsoft said in a statement.
Microsoft recently made its online versions of Word, PowerPoint, Excel and OneNote available as Chrome Apps that can be launched from the browser's desktop-based App Launcher.