I want to create 2 NFS fileshare on GCP and both would consume only 20GB of data. But when creating Filestore instances it seems like only one share can be created under each instance and also the minimum is 1TB storage capacity...
Monthly estimate shows that for 1 TB it would cost around 200 dollars. Is that applicable only if we use full 1TB storage? Is it alright to create 2 instance for 2 file share and use less than 20GB data in a 1TB instance and safely ignore monthly estimate?
You'll be charged for the provisioned capacity whether you use 1% or 99% of it. From the pricing page:
You are charged based on the provisioned capacity, not based on the capacity used. For example, if you create a 1 TB instance and store 100 GB of data on it, you incur charges for the entire 1 TB.