Punjab 20000 E-Bike Scheme Monthly Installment Schedule Information
Introduction
The Punjab 20000 E-Bike Scheme has unveiled its monthly installment payment schedule, offering vital details for eligible participants. This article serves as your comprehensive guide to understanding the payment process for this scheme.
Punjab 20000 E-Bike Scheme Overview
The Punjab 20000 E-Bike Scheme aims to distribute electric motorcycles to both male and female students. Eligible beneficiaries will pay for these e-bikes through monthly installments. This article provides detailed information on the payment procedure and monthly installment amounts.
Before delving into payment details, it’s important to note that the distribution process for electric bikes has not yet commenced. Students residing in Punjab who have submitted applications for this scheme and completed the verification process can check their eligibility status on the official website of the E-bike scheme.
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Punjab 20000 E-Bike Scheme Monthly Installment Schedule
Here is the monthly installment schedule related to the Punjab 20000 E-Bike Scheme, providing comprehensive information on installment amounts and payment duration:
| Details | Amount |
|---|---|
| Gross Loan Amount | Rs. 175,000 |
| Equity Deposit (%) | 30.00% |
| Equity Deposit | Rs. 52,500 |
| GoPb Capital Subsidy | Rs. 20,000 |
| Insurance Rate (%) | 10.00% |
| Insurance Upfront | Rs. 17,500 |
| Vehicle Registration | Rs. 10,000 |
| Total Downpayment | Rs. 63,500 |
| Net Finance Amount | Rs. 122,500 |
| Markup Rate (%) | 0.00% |
| Interest-Only Payment | – |
| Installment (EMI) | Rs. 5,104 |
| Tenure (Month) | 24 |
| Grace Period (Month) | – |
Eligibility Criteria for Punjab 20000 E-Bike Scheme
To qualify for the Punjab 20000 E-Bike Scheme, Punjab students must meet the following criteria:
- Residency: Applicants must be residents of Punjab with valid Punjab ID cards.
- Enrollment: Female students enrolled in Punjab schools, colleges, or universities are eligible.
- Income Source: Students must have a specific source of income.
- Punjab Residency: Students residing in Punjab or studying in other provinces are eligible.
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Aim of Punjab 20000 E-Bike Scheme 2024
The Punjab 20000 E-Bike Scheme aims to provide transportation solutions to Punjab students, enabling them to attend schools, colleges, and universities conveniently. This initiative assists financially disadvantaged students in acquiring electric bikes through easy installment plans, facilitating their educational pursuits.
Conclusion
For students who have qualified for the Punjab 20000 E-Bike Scheme, understanding the monthly installment schedule is crucial. This article provides clear insights into installment amounts and payment timelines, enabling beneficiaries to plan their finances accordingly. Eligible students are encouraged to check their eligibility status on the official portal and stay updated on scheme-related announcements.
