How to Apply for Punjab Bike Scheme 2024 for Students
The post How to Apply for Punjab Bike Scheme 2024 for Students appeared first on INCPak.
The Punjab government recently initiated the Punjab Bike Scheme 2024, that aimed to provide conventional and electric motorcycles (e-bikes) to students at easy installment plans. In this article, you will find complete details and a guide on how to apply for the Punjab Bike Scheme 2024 via the government’s online portal.
About the Initiative
Under the Punjab Bike Scheme 2024, the government is providing students with 20,000 motorcycles with an easy installment plan. The scheme includes 19,000 petrol bikes and 1,000 electric bikes, with designated ratio for both male and female students as outlined below:
Petrol Bikes
- 11,676 For Male Students
- 7,324 For Female Students
Electric Bikes
- 700 For Male Students
- 300 For Female Students
Eligibility Criteria
If you are wondering whether you are eligible for the Punjab Bike Scheme, the criteria is shared below:
- Must be over 18 years of age.
- Must be a regular student of a Degree College/university duly recognized by HEC.
- Must hold a valid motorcycle Learner’s Permit / Driving license.
- In the event of the receipt of applications over-allocated quotas, e-balloting shall be conducted.
Registration Process
- Go to the official website of the scheme: bikes.punjab.gov.pk.
- Find the registration section on the website.
- Complete the registration form with the correct personal information.
- Follow the instructions to upload any necessary documents.
- Double-check all entered information for accuracy.
- Submit the registration form.
How to Apply for the Punjab Bike Scheme 2024
This is a step-by-step guide on how to apply for the motorcycle scheme via the online portal:
- Once registered, you need to fill out the application form to apply for the scheme.
- Choose between petrol or electric bike to continue
- Enter details of guarantor (parents, spouse, or siblings), which include:
- Personal information
- Income details
- History of 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 bears mentioning that only students from five cities are eligible for the e-bike scheme, which include:
- Lahore
- Rawalpindi
- Faisalabad
- Multan
- Bahawalpur
Maximum Financing
The maximum financing for electric bikes in this program goes up to Rs. 250,000, while for petrol bikes, it is up to Rs. 150,000. If a student picks a bike that costs more than these amounts, they will need to pay the extra money directly to the program once they’re approved by BOP. The Punjab government will pay for bikes that exceed these set prices. Students must choose their bikes from the options listed on the website.
Installment Plan Details
The monthly installment and advanced or down payment depend on the selected bike and its market price. For instance, if you select a motorcycle that costs Rs. 150,000, you will need to pay 30% upfront equity. However, since the Punjab government is offering a special relief of Rs. 20,000, you will only need to deposit Rs. 25,000, and the remaining amount will be paid by the government.
Installment Period
The installment period for the Punjab E-Bike Scheme is 2 years.
Frequently Asked Questions (FAQs)
These are the most frequently asked questions regarding the scheme.
Who can apply for the Punjab Motorcycle Scheme?
Any student enrolled in a degree program at a university that is duly recognized by the HEC can apply for the scheme.
Where do I apply for the bike scheme?
You can only apply through the online portal available at bikes.punjab.gov.pk.
What types of bikes are included in the scheme?
The government is providing electric bikes (e-bikes) and conventional petrol bikes to students.
Can female students apply for the scheme?
Yes, there is a quota for female students as well.
Is a driving license needed to apply for the motorcycle scheme?
Yes, a driving license is one of the requirements to be eligible for the Punjab Bike Scheme.
Can anyone apply for two bikes?
No, a student can only apply for one bike of his or her choosing (petrol or electric).
Is the registration of the bike included in the price?
No, the registration is the responsibility of the student, and it is not covered by the monthly installments.
Does the bike have insurance?
Yes, the bikes have insurance, and the payment is included in the monthly installments.
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The post How to Apply for Punjab Bike Scheme 2024 for Students appeared first on INCPak.