The Punjab government has launched a bike program for students, offering 1,000 E-bikes in easy installments. Punjab Chief Minister Maryam Nawaz Sharif launched the education-friendly initiative, for which the government has collaborated with the Bank of Punjab for bike distribution. Here’s a detailed monthly repayment schedule for the CM E-Bikes Scheme:
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Punjab Govt E-Bike Scheme 2024
The Electric motorcycle scheme requires a down payment of Rs 63,500 and will have easy monthly installments for two years.
Monthly Installments
- Without Insurance: Rs. 5,104
- With TMP Insurance: Rs. 6,417
Repayment Schedule
| Without Insurance | With TMP Insurance | |
|---|---|---|
| Gross Loan Amount | Rs. 175,000 | Rs. 175,000 |
| Equity Deposit (%) | 30.00% | 30.00% |
| Equity Deposit | Rs. 52,500 | Rs. 52,500 |
| GoPb Capital Subsidy | Rs. 20,000 | Rs. 20,000 |
| Insurance Rate (%) | 10.00% | 10.00% |
| Insurance Upfront | Rs. 17,500 | Rs. 17,500 |
| Vehicle Registration | Rs. 10,000 | Rs. 10,000 |
| Total Downpayment | Rs. 63,500 | Rs. 63,500 |
| Net Finance Amount | Rs. 122,500 | Rs. 122,500 |
| Markup Rate (%) | 0.00% | 0.00% |
| Interest-Only Payment | – | Rs. 6,417 |
| Installment (EMI) | Rs. 5,104 | Rs. 6,417 |
| Tenure (Month) | 24 | 24 |
| Grace Period (Month) | – | – |
Also Read: Which E-Bike is Best in the CM Motor Bike Scheme?
How to apply for the CM Punjab E-Bike Scheme?
- Visit the official portal: bikes.punjab.gov.pk
- Find the registration section on the site
- Enter all details in the registration form and Upload with required documents
- Double-check the information you’ve entered
- Submit your registration form
What is the down payment required for the e-bike scheme?
The down payment required for the scheme is Rs. 63,500.
What are the monthly installment amounts?
Without insurance, the monthly installment is Rs. 5,104, and with TMP insurance, it is Rs. 6,417.