Students selected for the second phase of Punjab’s Chief Minister E-Bike Scheme will pay a monthly installment of Rs. 3,028 under a subsidized payment plan introduced by the provincial government.
The initiative aims to make electric bikes more affordable for students by reducing upfront costs and covering several major expenses associated with purchasing the vehicles.
Under the announced arrangement, successful applicants will pay the installment over a period of 36 months. The government has waived the down payment and will also cover the interest and insurance costs.
The second phase of the scheme includes 100,000 electric bikes for students across Punjab, offering financial support to those who need affordable transportation for their education.
How Much Will Students Pay Every Month?
According to the announced payment plan, each selected student will pay Rs. 3,028 per month.
The installment period will last three years, or 36 months. Based on the monthly amount, students will make total payments of Rs. 109,008 over the complete financing period.
The government’s decision to waive the down payment means successful applicants will not have to arrange a separate initial payment under the announced scheme.
It will also cover the interest and insurance expenses associated with the electric bikes, helping reduce the financial burden on participating students.
The monthly installment structure is intended to make the scheme more accessible, particularly for students who cannot afford to purchase an electric bike through a conventional payment arrangement.
Government Allocates 100,000 Electric Bikes
The Punjab government has allocated 100,000 electric bikes for students under the second phase of the Chief Minister E-Bike Scheme.
The initiative is designed to improve students’ access to affordable transportation and make daily travel to educational institutions more convenient.
Students who live far from their colleges and universities often face transportation difficulties, particularly when public transport options are limited or expensive.
By providing electric bikes through subsidized financing, the provincial government aims to offer students another transportation option while promoting the use of electric vehicles.
The second phase follows the government’s broader efforts to expand electric mobility across Punjab.
More Than 1.3 Million Students Register
The scheme has attracted significant interest from students across the province.
According to the available figures, more than 1.3 million students registered for the initiative, while over 600,000 completed their applications.
The large number of registrations indicates strong demand for affordable transportation options among students.
However, the government has allocated 100,000 bikes for the second phase, meaning eligible applicants will be selected through an electronic balloting process.
Students who successfully qualify through the process will be able to benefit from the subsidized installment plan.
Bank of Punjab and PITB Handle the Process
The Bank of Punjab is responsible for managing the financing arrangements for the electric bike scheme.
Meanwhile, the Punjab Information Technology Board (PITB) will oversee the electronic balloting process.
The involvement of these institutions is intended to manage the financial and selection procedures associated with the initiative.
Electronic balloting will determine which eligible applicants receive the opportunity to obtain an electric bike under the scheme.
Students will therefore need to wait for the official selection process and subsequent instructions regarding financing and distribution.
Electric Bike Distribution to Begin in December 2026
The distribution of electric bikes under the second phase is scheduled to begin in December 2026.
However, the Punjab government has not yet announced an exact date for the first deliveries.
Selected students will be able to proceed with the required arrangements once the balloting results and further distribution instructions are announced.
The monthly installment of Rs. 3,028, along with the waiver of down payment, interest and insurance costs, is a major feature of the second phase.
With more than 600,000 completed applications competing for 100,000 allocated bikes, the upcoming electronic balloting will determine which students benefit from the initiative.
Also read: Punjab Students to Get 125,000 E-Bikes From Punjab Government
