With the introduction of this bicycle program, the Punjab government, led by Maryam Nawaz, the first woman chief minister of Pakistan, has made a significant breakthrough. Under the CM Punjab Bike scheme, needy people can now get electric bikes in addition to basic or petrol bikes. Since e-bikes require electricity to charge, they will help people reduce the amount of air pollution from burning gasoline.

Online application

Registration for the Punjab Bike Scheme is a fairly simple process. Following is the online registration procedure for CM Punjab Maryam Nawaz Bike Scheme:

  • To register, go to the Punjab Government Bike Scheme website.
  • Click on Register and fill the required information (Name, Email, CNIC, Gender, Password).
  • After registering, complete the online application to apply for the bicycle scheme.
  • Select an electric or gas bike to apply.
  • The following information about the co-borrower/guarantor (parents, spouse, sibling or siblings of the student applicant) must be entered: personal data, income information, a list of all loans taken out in the past, their current status. , and the monthly payments.

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Rejection of an application

Bank of Punjab (BOP) may decline or reject a loan application for the following reasons:

  • Not up to the mark Physical confirmation from the guarantor or with the borrower
  • Any negative credit history or Computerized Credit Information Bureau or inadequate ECIB co-borrower/guarantor report
  • High debt ratio (DBR) and low repayment capacity of the co-borrower and the guarantee (DBR of the co-borrower and the guarantee must not exceed 40%)
  • Do not adhere to name verification, as well as additional regulatory inspections that provide the bank with fictitious, false or inaccurate information.
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quotas

You must be wondering now how the debt to load ratio is determined. Very good! The expected installment of the current loan facility (interest-free cycle) and the monthly installments/payments of the co-borrower/guarantor of all previously obtained loans is divided by the monthly net disposable income and multiplied by 100. Many of you are probably wondering why this scheme requires a co-borrower/guarantor. Since most students do not have a source of income, it is to repay the loan in installments on behalf of the student applicant.

topic Details
Name of the schema CM Punjab Bike Scheme 2024
purpose Provide electric and gas bikes for people in need
Application process 1. Visit the Punjab Government Bicycle Scheme website 2. Register and fill the required information 3. Complete the online application 4. Select the type of bicycle
Co-borrower/guarantor Necessary for loan repayment; includes personal and financial information
Reasons for rejection – Inadequate physical confirmation of guarantor/co-borrower – Negative credit history – High debt ratio – Falsification of information
Debt-Charge Ratio It is calculated by dividing the loan and co-borrower payments by the monthly disposable income, multiplied by 100
Deadline April 29, 2024

Application deadline

Please note that the government is only accepting applications until April 2024 (deadline: April 29, 2024). Therefore, students are advised to apply as soon as possible. Remember that the student is considered the “principal borrower” if he has his own source of income and there is no involvement of a guarantor.

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Frequently asked questions

When is the deadline for submitting government applications?

Please note that applications are only being accepted by the government until April 2024.

How can I apply online for the Bike program?

To register, go to the Punjab Government Bike Scheme website.

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