Bank in India offers Xbox 360 financing

by Blake Snow { Dec 9th 2006 at 2:30PM }

Steep Xbox 360 prices in Indian got you down? No worries, one bank is offering to finance Xbox 360 purchases in a country where the average national income is $18 less than the $518 cost of a 360 core. TechWeb reports: "India's ICICI bank says it will secure an Xbox 360 Core system for customers for an upfront payment of the rupee equivalent of about $20.00 and six monthly installments of about $73.00 ... the purchase of an Xbox 360 would for the typical resident represent a financial outlay that in the West would be the equivalent of buying a house."

So who in the right mind would finance a 360 over a house in India? Native Microsoft employees for one. They make on average $10,000 per year. Heck, Microsoft India will even deduct the purchase price from your check.

Reader Comments (Page 1 of 1)

Josh @ Dec 9th 2006 2:35PM

I shouldn't be speaking, but that's gotta be hard. It's no wonder that recent Indian article found no real advantages to getting a 360 over a PS2.

Big Ed @ Dec 9th 2006 3:10PM

I shudder to think of the payments for a PS3!

silkylove @ Dec 9th 2006 3:11PM

Man the people @ Microsoft are some cheap bastards. You would think that there would be a discount for the people buyiung a 360 in India if they work for the freakin company that makes it.

DMD @ Dec 9th 2006 3:21PM

Wow, so that makes financing the Wii, like financing an expensive car. See, Nintendo new what they were doing by keeping the price of the Wii low.

Wait, nevermind, I've spent close to 500 already on mine, not including games.

I think the message here is that gaming is too expensive.

Sean @ Dec 9th 2006 3:29PM

#4 - Initial costs of gaming are expensive, yes. However, no one is forcing you to buy extra controllers or more games; No one is forcing you to buy the system at all. Hell, with the Wii, you could be content with what they just give you for $250. It technically comes with everything you need. A game, controller, etc.

Now, if you want to Enhance it, yeah, that'll cost ya'.

Still cheaper then the Xbox 360 though. $400 for the Premium, $60 per game (well, you could get the launch games for $20) and (don't kill me if i'm wrong on this exact price) $50 per controller.

Either way, the Wii is still a cheaper alternative to those who don't want to spend much on gaming but still want to be in on the next gen systems.

AssemblyLineHuman @ Dec 9th 2006 3:41PM

DMD: We console gamers are far better off than those PC people, though. =P

plooby @ Dec 9th 2006 3:56PM

Sweet - I think it would be really cool if Microsoft connected XBL around the world, so maybe we could play with some of these people.

wAkO @ Dec 9th 2006 4:07PM

WTF?! AND THESE ARE THE PEOPLE WHO HELP ME WHEN I CALL TECH SUPPORT?!

They never seen one and yet they are telling me what I did wrong?!

Josh @ Dec 9th 2006 4:48PM

wAkO, good point.

I'd like to add in that capitalism sucks.

Kaemon @ Dec 9th 2006 4:58PM

"I'd like to add in that capitalism sucks."

And I would like to add in that you are a total idiot. Without capitalism you wouldn't even have video games or a computer most likely.

Josh @ Dec 9th 2006 5:25PM

I agree. I'm just saying that capitalism is inherently flawed, though I can't say I've can produce something "better". Pretty much I hate the way our country idolizes it.

ezrid @ Dec 9th 2006 5:54PM

Yeah, there are so many things to idolize besides capitalism. Why idolize a system that's responsible for the concept of democracy, the industrial revolution, computers, video games, medical advancement, and if left alone, would solve poverty much better than welfare?

I can't think of any good reasons, either.

Tush @ Dec 9th 2006 6:58PM

The Taj Mahal is a bank?!

ealba @ Dec 9th 2006 8:52PM

As someone with money, I'm kind of embarrassed right now...I think I'm going to go make a substantial donation to a worthy cause...

Mo Khan @ Dec 9th 2006 11:21PM

Here's the catch... the offer is only available to those individuals who have an ICICI Bank - Visa Credit Card. It can only be availed at the retailer from which you purchased the console and not through the bank directly. I actually went and spoke to my local ICICI bank manager here in Manipal, Karnataka about the offer and he gave the above information.

Fact is, the average price of a decent LCD / HDTV in India ranging from 12,000 INR ($280) for a 17" computer lcd up to 75,000 INR ($1,800) for a 46" 720p set. Throw in another 25,000 INR ($500) for a Wii or Xbox 360, you're looking at anywhere between spending $800 - $2500 for a HD gaming experience.

ITS JUST TOO EXPENSIVE TO DO HD GAMING IN INDIA! Even as an American, who's studying medicine in India, being completely dependent on my parents for cash - its still too expensive. Throw into the picture the scarcity of retail outlets for any of these consoles - if you really want it, you've got to import it, and that means you better hope you know someone from Malaysia, Singapore or Japan. Good luck.

Its all just a hassle to bring technology into Curry Mucher Land. I remember bringing my Dreamcast back in 2005, and getting harassed into paying the customs official at Bombay airport 200 bucks to let me through with my DC and now deciesed HP laptop (boo HP). Retarded. (I'm a proud curry muncer myself)

Are Indians poor? No hell no. You'll be surprised. Yes, the average indian earns less than $500 per year. But what can you do with a country with over 1 billion people? Sadly most of the general population earns less than someone on welfare back in America would in a month. But for those who've come up in India have very comfortable lives, where everything is within reach... But at what cost? Thats up to the individual consumer.

For a college student, Indian or American, fact is, unless:

1) Your parentals have a lot of money to blow on hooking YOUR ASS, instead of THEIRS with a HD gaming experience

2) You have a job. (In that case props to you. For the future medical students of the world, run away. No one ever said you'd be studying your whole life.)

3) You room with a bunch of crazy mofo's who want to split the cost of it all.

4) You have friends or family that gift you this stuff...

Otherwise, for all the nuts like me, we keep studying and hustlin, knowing that like the NBA - you gotta play hard or go home, one day we wont be playing dreamcast on our 14" tv's.

As for me... well Ill be getting my Wii (had my brother preorder)in January along with the Lumenlab projector. That's love.

driven2sin @ Dec 9th 2006 11:23PM

@ 14

Donate to your DS Lite

http://www.ubergizmo.com/15/archives/2006/12/ds_lite_stylus_comes_in_real_gold.html

driven2sin @ Dec 10th 2006 12:00AM

.. on second thought.. sit in one of these the next time you call India's customer service

http://www.thev1chair.com/

Kit @ Dec 10th 2006 1:12AM

Tush: I was also shocked to learn that the Taj Mahal is apparently a bank.

I do hope no Indian goes for this, particularly in lou of housing.

SM @ Dec 10th 2006 2:39AM

Being an Indian, i've never heard of this offer
newa I own a X360 since 8 Months and play it on a normal tv 29" and sometimes on My dad's HDTV {im 16}
and i bought da bloody 360 on my own albeit a bit of help from my father. Still this offer is ridiculous I mean y wud u take a loan to buy a freakin Console. Its nt a necessity its jus a privilige. Jeez!!! dUMB duMB

Milov @ Dec 10th 2006 12:00PM

Wow, I love how even joystiq follows crap that the media says. India isnt some frekin poor country, its full of smart people that get their jobs done. When people see india on tv its usually a bunch of poor people standing on the street with garbage every where. Im not saying India is thriving rich becuase its not. Their is way too many poor people thats why the average is 18$ a year. So why dont you shut the hell up and actually go to India before you talk. Wow joystick youve offended me

Akshay @ Dec 10th 2006 1:51PM

Sadly India wouldn't appear on the offical radar of games of many years to come. Simply bc there exists a gray market in India that sells pirated games and hacked consoles at huge discounts compared to the once offered officially by microsoft. You'll be suprised the number of gamers in India - but you can't put a number on the simply bc they don't bc people like microsoft don't price their games properly. Most Indians still game on PC and don't see the need to move on to a console.