The novel scheme, aimed to help customers buy Presario range of home PCs at an initial payment of Re 1, also charges two per cent cost of the computer as service fee at the time of delivery.

The financial assistance offered through the American Express Bank (AEB) has been planned with three different payment schedules charging interests ranging from 12.85 per cent to 13.2 per cent, a company statement said here.

The monthly instalments are as low as Rs 1,206 and the scheme is open to all, it said, adding that the consumers can buy computers availing the new scheme from Compaq's retail network in Delhi, Mumbai, Calcutta, Bangalore and Chennai.