Punjab E-Bike Scheme Phase 2: Selected Students to Pay Rs. 3,028 Monthly

Students selected in the second phase of Punjab's Chief Minister E-Bike Scheme will pay a subsidized monthly installment of Rs. 3,028, according to details released about the program. The provincial government has waived the down payment and will cover interest and insurance costs, lowering the upfront financial burden on students.

Payments will be spread over a 36-month period. At the announced rate, total payments over three years will come to Rs. 109,008 per bike. The second phase covers 100,000 electric bikes for students across Punjab.

Interest in the scheme has been strong. More than 1.3 million registrations were recorded, and over 600,000 students completed their applications. Eligible applicants will be chosen through electronic balloting.

The Bank of Punjab is handling the financing arrangements, while the Punjab Information Technology Board is managing the electronic balloting process.

Distribution of the bikes is scheduled to begin in December 2026, though the government has not yet announced an exact date for the first deliveries. The scheme is part of broader efforts to promote electric mobility and make affordable transport available to students in the province.