While surfing the web I found this complete value for money offer from 1and1 hosting. The current ongoing promotion from 1and1 lets you register a domain and hosting account free for first 6 months with a small setup fees of $4.99 . 1and1 shared hosting currently supports 4 plans.
1&1 Beginner – 1 free domain for life, 10 GB web space and unlimited bandwidth.
1&1 Home – 2 free domain for life, 150 GB web space and unlimited bandwidth.(first 6 months free)
1&1 Business – 3 free domain for life, 250 GB web space and unlimited bandwidth.(first 6 months free)
This promotion is valid till 31st January, 2010 only. So, hurry up and sign up for free 6 months hosting.