Punjab Interest-Free Bike Scheme: Latest Overview for Students
The Punjab government’s Interest-Free Bike Scheme is an active initiative designed to help college and university students get affordable transportation. Through this program, students can apply for petrol bikes or electric bikes and pay for them in easy monthly installments without any interest, as the government covers all mark-up charges.
The application process is handled through an online portal, followed by a transparent e-balloting system due to the large number of applications. Only shortlisted students move forward to the Bank of Punjab for final approval and installment setup.
Even though the scheme is authentic, the number of available bikes is limited, which makes competition high. To speed up the process, the Bank of Punjab has recently launched special incentive campaigns encouraging selected students to complete their pending steps.
Overall, this scheme aims to reduce travel expenses, support students who commute daily, and promote the use of fuel-efficient and eco-friendly bikes across Punjab.
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