Wed. May 22nd, 2024
Monthly Installment Plan for CM E-Bikes SchemeMonthly Installment Plan for CM E-Bikes Scheme

Last Updated on: 26th April 2024, 03:24 pm

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You have the opportunity to benefit from an innovative bike program introduced by the Punjab government, specifically tailored for students like you. Through this program, you can gain access to 1,000 E-bikes with convenient installment plans. This education-friendly initiative was inaugurated by Punjab Chief Minister Maryam Nawaz Sharif and is a joint effort between the government and the Bank of Punjab for the distribution of bikes. Let’s delve into the details of the Monthly Installment Plan for the CM E-Bikes Scheme:

Government of Punjab E-Bike

Government of Punjab E-Bike Scheme 2024

Under this Electric motorcycle scheme, you are required to make a down payment of Rs 63,500, with easy monthly installments spread over two years.

Monthly Installments

  • Without Insurance: Rs. 5,104
  • With TMP Insurance: Rs. 6,417

Monthly Amount

Installment Plan

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: 110,000 Students Registered for CM Punjab Motorcycle Scheme

Method to Apply Online for the CM Punjab E-Bike Scheme:

  1. Visit the official portal:
  2. Navigate to the registration section on the site.
  3. Fill out the registration form with all necessary details and upload the required documents.
  4. Double-check the accuracy of the information provided.
  5. Submit your registration form.

Down Payment Requirement:

The down payment required for enrollment in the e-bike scheme is Rs. 63,500.

Monthly Installment Amounts:

  • Without insurance: Rs. 5,104
  • With TMP insurance: Rs. 6,417

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