I want to know what would be the best frequency in taking SQL DB, full and differential backups looking at below particular scenario.

I have seven databases and each needs to be backup. Currently, I have setup a couple of maintenance plan in SQL as below.

1. Clean Full Backup every night at 1AM, older than 7 days
2. Full Backup every night at 2AM
3. Differential Backup every 1 hour between 5AM to 10PM
4. Clean Differential Backup Daily 10:30PM, older than 1 day

Considering the full backup size of each Database is 50GB. What would be the optimal way to take backups with 1TB of drive space.

Note that I have different drives for Full and Differential backups of size 1TB and 500GB respectively.

Any suggestions?