PM E-Bike Loan Scheme 2024 Application Form

In the fast-paced world we live in, transportation plays a crucial role in our daily lives. The PM E-Bike Loan Scheme 2024 has emerged as a beacon of change, offering individuals an affordable and eco-friendly means of commuting. Let’s delve into the intricacies of this scheme, exploring its benefits, application process, and addressing common queries.

PM E-Bike Loan Scheme 2024 Application Form

The government will make a down payment of Rs 90,000 for the purchase of an e-bike which costs Rs 170,000, while the buyer will pay Rs 10,000 initially out of the total payment of Rs 100,000. With government guarantees, the bank will provide a loan of Rs 70 thousand at Kabbar Plus 2 or 19%, which is estimated at Rs 13 thousand 300.The Ministry of Industries and Production has initially planned to produce one lakh e-bikes in 18 months to help reduce petrol consumption and control carbon emissions.

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The PM E-Bike Loan Scheme is a revolutionary initiative aimed at promoting electric mobility and reducing the carbon footprint. It envisions a future where citizens can embrace sustainable transportation through the financing of electric bikes. As we witness a global shift towards greener alternatives, this scheme stands out for its focus on affordability and accessibility. The scheme can be initially launched in Islamabad, Peshawar, Quetta, Lahore and Karachi. Under the proposed scheme, a plan has also been prepared to supply e-bikes in installments in 24 months.

The buyer will pay 4 thousand 310 rupees per month, which includes the principal amount of 2 thousand 917 rupees, interest payment of 1 thousand 109 rupees and insurance payment of 284 rupees at 2%. The Ministry of Industries and Production expects that the project During the current financial year, 15 thousand e-bikes will be produced/sold, while the target is to produce 60 thousand and one lakh e-bikes in the financial year 22-23 and 24-25 respectively.

PM E-Bike Loan Scheme 2024 Application Form

  • Down payment of 90 thousand rupees for the purchase of an e-bike
  • The cost is 1 lakh 70 thousand rupees.
  • The buyer will pay 10 thousand rupees initially out of the total payment of 1 lakh rupees.
  • The government will make a Under the subsidy program, 20 percent quota will be allocated for children of salaried parents, female students and female employees.

Under the subsidy program, 20 percent quota will be allocated for children of salaried parents, students and female employees, one percent quota will be kept for transgender citizens, while in addition to this, government employees, private sector salaried employees. /Self-employed persons having NTN and bank account, Govt/Armed Forces pensioners, Imam Masjid/Hafiz Quran reciters with authentic education from institutes approved by Ministry of Religious Affairs Govt of Pakistan should be provided e-bikes.

PM E-Bike Loan Scheme 2024 Application Form

In the working paper of the scheme, three subsidy models have been proposed, including cash purchase, under which the government will provide Rs 1 lakh through banks and consumers will pay Rs 70,000 from their own sources. 100,000 rupees will be given on the basis of partnership between the government and consumers, while 70 thousand rupees will be provided by the government as a bank loan with 50% credit guarantee. Under the third model, 30% down payment of the subsidy will be provided by the government. 50 percent financing will be under subsidy and 50 percent under credit guarantee.