Thu. Jun 20th, 2024
Punjab 20000 E-Bike Scheme Monthly Installment Schedule Information

The monthly installment payment schedule related to the Punjab 20000 E-Bike Scheme has been released in Punjab. Eligible people can get information about the payment of their money here. You have to read this entire article until the end to get complete guidance.

Punjab 20000 E-Bike Scheme

In the Punjab 20000 E-Bike Scheme, electric motorcycles will be given to male and female students. Eligible students will pay the amount in monthly installments for this scheme. How will the payment be made and how much will you pay monthly for your e-bikes? You are being guided in detail about it.

But before that, let us inform you that the process of distribution of electric bikes has not yet started. Students living in Punjab who submitted applications for this e-bike scheme. Their verification process has been completed.

Punjab 20000 E-Bike Scheme
In the Punjab e-bikes scheme, 20 thousand electric motorcycles will be given to male and female students. Eligible students will pay the amount in monthly installments for the payment of this scheme. How will the payment be made and how much will you pay monthly for your e-bikes? You are being guided in detail about it. 

But before that, let us inform you that the process of distribution of electric bikes has not yet started. Students living in Punjab who submitted applications for this e-bike scheme. Their verification process has been completed.
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You can find your list by visiting the official website of the E-bike scheme. There, the list of eligible students has been published separately. The list of students has been published independently. So you check eligibility on your list. So that you can get your electric bike from the government if you are eligible.

Punjab 20000 E-Bike Scheme Monthly Installment Schedule

The list of monthly installment schedules related to the scheme is provided below, which provides all the information. Eligible students will pay the amount every month, and how many installments will be paid in a year. You can find all these details in the table below.

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)

Who is Eligible For the Punjab 20000 E-Bike Scheme?

Punjab students who want to get the eligibility criteria then read some important points for Punjab 20000 E-Bike Scheme below.

  • The applicant must be a resident of Punjab and have his own Punjab ID card.
  •  Female students enrolled in any Punjab school, college, or university are eligible for this.
  • Students must have some specific source of income.
  • He is a resident of Punjab after Til Bottle. However, they can also apply if they are studying in other provinces.

Aim Of Punjab 20000 E-Bike Scheme 2024

Those students want to see the benefits of the Punjab 20000 E-Bike Scheme. Let us tell them that this scheme is specially designed for the students of Punjab. So that students who do not have transportation can go to schools, colleges, and universities.

So they can easily complete their educational activities by getting this bike from the government in easy installments. Those poor and deserving students who do not have bikes etc. They can get electric bikes from the government in easy installments. Eligible students will pay the amount on a down payment. The term of which is fixed for two years.

Conclusion

Regarding the Punjab 20000 E-Bike Scheme, let us now know those students who have qualified—those who have received a message from the government about their eligibility. So now they should also get information about their monthly installment schedule so that they know how much we will pay for the installment of the electric bike in a month and how much we can pay in a year. All this information has been explained to you clearly. Further, registered students can check eligibility on their list by visiting the official portal.