is the hd only 2 months old also?
If its squealing, its just a matter of time before it fails.
HDDs are cheap: just replace it.
Now, with that being said, I've got an hdd I use as a scratch drive that's about 7 years old, is louder than any fan, and works like a dream. I'm going to keep on using it till it fails as I have essentially nothing on it.