Monthly Repayment Schedule for CM E-Bikes Scheme

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Monthly Repayment Schedule for CM E-Bikes Scheme

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:

Punjab Govt E-Bike Scheme 2024

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
24 Months E Bike Installment Plan

Repayment Schedule

Without InsuranceWith TMP Insurance
Gross Loan AmountRs. 175,000Rs. 175,000
Equity Deposit (%)30.00%30.00%
Equity DepositRs. 52,500Rs. 52,500
GoPb Capital SubsidyRs. 20,000Rs. 20,000
Insurance Rate (%)10.00%10.00%
Insurance UpfrontRs. 17,500Rs. 17,500
Vehicle RegistrationRs. 10,000Rs. 10,000
Total DownpaymentRs. 63,500Rs. 63,500
Net Finance AmountRs. 122,500Rs. 122,500
Markup Rate (%)0.00%0.00%
Interest-Only PaymentRs. 6,417
Installment (EMI)Rs. 5,104Rs. 6,417
Tenure (Month)2424
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?

  1. Visit the official portal:
  2. Find the registration section on the site
  3. Enter all details in the registration form and Upload with required documents
  4. Double-check the information you’ve entered
  5. 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.

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