Earlier we reported that the $99 Xbox 360 from Microsoft was going to revealed in a week, and that rumour has come true as Microsoft has finally made their plans official.

There are a few reasons for such a low price, though. You need to pay $15/month till two years to get the Xbox 360 at that price, and if you decide to not pay the instalment — Microsoft can terminate the plan.

“For those buying the bundle now and getting the cheapest two-year Xbox Live Gold option, that’s about $299.00 + $120 = $420 vs. $459 over a duration of two years.”

These are the instructions to redeem the offer:

• Bring offer code 885370366266 to your local Microsoft Store.
• Sign up for 2 year subscription to Xbox Live Gold Membership* at $14.99 per month and receive a 4GB Xbox 360 with Kinect for $99.
• Promotional offer (Microsoft may terminate this Offer at any time).

Are you interested in this offer? Tell us what you think in the comments section below.

[Microsoft Store]