Sr. No |
Parameter |
Criteria |
1 |
Scheme size |
- The scheme shall cover financing of approximately 116,000 e-bikes and 3,170 e-rickshaws/loaders during FY 2025-26
- Out of this, following quota will be observed:
- Minimum of 25% of the total number of e-bikes for females
- Maximum of 10% of total e-bikes for persons intending to use e-bikes for business purposes such as courier or delivery services
- Maximum of 30% of rickshaws/loaders for fleet operators
- The scheme will be implemented in two phases. In the first phase, 40,000 e-bikes and 1,000 e-rickshaw/loaders will be distributed while remaining 76000 e-bikes and 2,171 e-rickshaws/loaders will be distributed in the second phase
|
2 |
Eligibility to apply |
- All citizens of Pakistan including GB & AJK subject to the age restrictions
- In case of rickshaws/loaders, fleet operators will also be eligible to apply in addition to common citizens
- Eligibility criteria for fleet operators will be determined by the Steering Committee
|
3 |
Age limits |
- To be eligible for the scheme, a citizen of Pakistan shall satisfy following age criteria at the time of submission of application:
- In case of e-bikes: Min 18 years; max 65 years
- In case of rickshaws/loaders: Min 21 years; max 65 years
|
4 |
Type of Financing |
Conventional and Islamic finance |
5 |
Loan Size |
- Maximum cap shall be as under:
- PKR 200,000/- for two-wheeler
- PKR 880,000/- for three-wheeler
- Borrower shall pay any amount above the Capital Subsidy as part of upfront equity payment while complying with debt-to-equity ratio
|
6 |
Capital Subsidy |
- Up to PKR 50,000 per two-wheeler, subject to Parameter “Debt:Equity ratio”
- Up to PKR 200,000 per three-wheeler, subject to Parameter “Debt:Equity ratio”
|
7 |
Debt: Equity Ratio |
- 80:20 (down payment of 20%)
- Equity portion will encompass both capital subsidy and borrower’s share. As a general principle, first, fixed capital subsidy will be applied and any remaining amount will then be paid by borrower
- For the avoidance of doubt, if the equity portion of 20% is fully covered by capital subsidy, then borrower will not pay any amount
|
8 |
Loan Tenor |
- Max 2 years for e-bikes
- Max 3 years for rickshaws/loaders
|
9 |
Bank’s Pricing |
6-month KIBOR +2.75% |
10 |
End User Rate |
0% (Full mark-up subsidy by Federal Government) |
11 |
EMI |
EMI comprising principal + insurance component only |
12 |
Lending Platform |
- Digital with minimal human interaction
- Banks will integrate with digital platform for sharing information etc
|
13 |
Original Equipment Manufacturers (OEMs)/Vendors & Shortlisted Vehicle Models |
- As shortlisted by Engineering Development Board (EDB)
- OEMs shall be responsible for timely delivery of vehicles to borrowers and for regular after sales service
|
14 |
Debt Burden Ratio |
As per SBP Prudential Regulations |
15 |
Credit Scorecard |
As per respective bank’s risk appetite & credit policy |
16 |
Income Estimation |
Through salary slip or bank statement(s) or proxy methods |
17 |
Charges on early
settlement |
Nil |
18 |
Loan Processing Charges |
Nil |
19 |
Late Payment Charges |
As per Schedule of Charges (APSC) of individual banks |
20 |
Repossession charges |
APSC to be borne by borrower |
21 |
Registration charges |
To be borne by borrower |
22 |
PMD and other checks |
Federal Government to arrange for PMD (Pakistan MNP [mobile number portability] Database) Check/NADRA Verisys check at their cost |
23 |
Insurance Payment |
As per rates agreed with insurance companies (first year to be taken in advance) by individual banks, with yearly insurance cost in subsequent year(s) to be pro-rated in EMI. Rates to be negotiated with the insurance companies in coordination with Ministry of Industries & Production (MoI&P) |
24 |
Credit Loss Guarantee (CLG) |
20% Portfolio Guarantee on First Loss Basis |
25 |
CLG Claim Stage |
180 days from the date the installment was due and not paid by the customer
|
26 |
Mandatory
Documentation |
Valid CNIC, Digital Undertaking for Driving License |