Wed. May 22nd, 2024
How to Apply for Punjab Bike Scheme 2024 New Update

The Punjab government has recently started the Punjab bike scheme for students. The purpose of this is to distribute traditional and electric bikes to students in easy installments. Let us tell you that the registration of this scheme has also been formally started by the government. And the purpose of this article is that you will get complete guidance and details about the complete procedure for completing the registration at home through the portal established by the Punjab government.

About Punjab Bike Scheme 2024

Under this scheme, the Punjab government intends to distribute 20,000 bikes among the male and female students belonging to Punjab. The total number of these bikes is 20,000, and out of them, 19,000 are petrol bikes and 1000 are electric bikes. Along with this, there is a fixed ratio for male and female students, the details of which are as follows:

Petrol Bikes

  • 11,676 For Male Students
  • 7,324 For Female Students

Electric Bikes

  • 700 For Male Students
  • 300 For Female Students
About Punjab Bike Scheme 2024

Eligibility Criteria

If you want to know if you are eligible to join this scheme and get a bike, then you need to fulfill the criteria given below.

  • The age limit must be above 18 years.
  • Must be a resident of Punjab
  • It is necessary to be a regular student at an institution recognized by HEC. Institutions include both universities and colleges.
  • Must have a driving license
  • If a driving license is not present, then it is mandatory not to be on the learner
  • The applicant must have an ID card.
  • The applicant should not belong to any private institution.
  • The applicant should not have any police cases against him.

Registration Process

  • Visit the Bikes Scheme official website :
  • After visiting the website, click on the registration section.
  • Complete the registration form by entering all the requested information in the lesson format.
  • Upload the required documents as requested.
  • Read all the information entered again to avoid any mistakes.
  • Submit the registration form after ensuring the correct information.
Registration Process

How to Apply for the Punjab Bike Scheme 2024

Here is your simple step-by-step guide on how to apply for the E-Bike scheme through the online portal:

  • First, you need to create your account on the website.
  • After that, you have to fill out the form for the scheme.
  • Then, you have to choose between a petrol or an electric motorcycle.
  • Finally, you must provide details of a guarantor, including:
  • Your personal information
  • Your income information
  • Information on your previous loans

Last Date to Apply

The last date to apply for the Punjab Bike Scheme is April 29, 2024.

Cities Under The Scheme

It is very important to inform you that only students from five districts can apply for electric bikes, which include.

  • Lahore
  • Rawalpindi
  • Faisalabad
  • Multan
  • Bahawalpur

Maximum Financing

Under this scheme, students can avail financial assistance up to Rs 250,000 for electric bikes and Rs 150,000 for petrol bikes. If a student opts for a bike that costs more than these limits, they will have to pay the extra amount themselves after approval from the Bank of Punjab (BOP). The Punjab government will only pay the price of those bikes that are up to the prescribed limit. Students have to choose the bike of their choice from the list given on the official website.

Installment Plan Details

Your monthly installment and down payment amount depend on the bike you choose and its price. For example, if you choose a bike worth Rs 150,000, you will have to pay 30% of the initial down payment. But a special exemption of Rs 20,000 is being given by the Punjab government, so you will need to deposit only Rs 25,000, and the rest will be borne by the government.

By 8171Update

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