I need about 500Mb space with 10GB bandwidth cpanel hosting
I need it only for $1 or $2.
If anybody knows any quality hoster please tell me
I know its a little amount but I cannot afford more for this.
I can't recommend anyone for that price. All web hosts cost a little bit more than that. You could try your luck at the Shared & Reseller Hosting Offers section though. You might just find a web host doing that deal, but you'd need to do some research on that company first.
The trouble with paying so little is a large percentage of it goes to paying the payment processor's fees. If you are willing to pay for a few months in advance you might find someone but otherwise I'd be surprised if you could find 500mb for that.
I think free hosts donot allow this, If they allow, they have heavy resistrictions
Paying $1 or $2 is very similar to free hosting. If you are serious enough to pay for hosting, go for $5-$10 at least. Paying $1 or $2 and waste time with bad support or technical issues is actually more expensive as your time is expensive too.