Understanding the difference between HANA On-Premise and HANA Cloud edition becomes very important when it comes to buying a HANA digital core from the SAP. Both versions differ in terms of function, cost and even how they are managed throughout their life-cycle.
When we talk about HANA as a service, it is essentially about SAP Cloud Platform (SCP). Services can Platform as a service or Application as service
On Premise HANA is more like traditional SAP setup. Maintenance and Upgrades work is similar fashion as they used to be in ECC.