SBP Electric Vehicle Scheme 2025 Complete Loan & Installment Plan

The SBP Electric Vehicle EV Scheme 2025 is a government-backed initiative designed to promote electric mobility across Pakistan. This scheme provides financial support in the form of loans and subsidies for individuals interested in purchasing electric bikes and rickshaws. By making EVs more affordable, the government aims to encourage citizens to adopt cleaner and more sustainable transportation solutions.

Electric vehicles not only reduce environmental pollution but also help decrease fuel expenses for daily commuters. Under this scheme, low and middle-income families can now easily access zero-markup loans to buy EVs, turning the dream of owning an eco-friendly vehicle into reality.

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The SBP EV Scheme 2025 is also a step toward a greener future for Pakistan. By promoting clean energy, the government is supporting initiatives that will benefit both individuals and the environment. Whether you are an urban commuter or a commercial vehicle owner, this scheme offers a practical and cost-effective solution for your transportation needs.

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SBP EV Scheme 2025 Eligibility Criteria:

To apply for the SBP EV Scheme 2025, applicants must meet the following criteria:

• Must be a Pakistani citizen.
• Age between 21 and 60 years.
• Must have a valid CNIC.
• Must have income proof to qualify for the loan amount.
• Applicants can either be individual buyers or business owners looking to buy EVs for commercial purposes.

Table SBP EV Scheme 2025:

Loan & Installment Plan Details

The scheme offers easy loans with flexible installment plans for electric bikes and rickshaws. Key details:

• Loan Amount for Electric Bikes: Up to PKR 150,000
• Loan Amount for Electric Rickshaws: Up to PKR 500,000
• Markup/Interest Rate: 0% under the cost-sharing model
• Installment Period: 12–36 months depending on loan size and applicant profile

This makes it possible for low and middle-income families to purchase EVs without financial strain.

SBP Electric Vehicle Scheme 2025 Complete Loan & Installment Plan:

The State Bank of Pakistan (SBP) has introduced the Cost Sharing Scheme for Electric Bikes and Rickshaws/Loaders to promote energy efficiency and facilitate the transition to green technologies in the automotive sector. The scheme aims to finance approximately 116,000 e-bikes and 3,170 e-rickshaws/loaders during FY 2025-26 State Bank of Pakistan.

Key Features:

1. Scheme Size

• Total Financing: Approximately 116,000 e-bikes and 3,170 e-rickshaws/loaders.
• Distribution Phases:
  • Phase 1: 40,000 e-bikes and 1,000 e-rickshaws/loaders.
  • Phase 2: 76,000 e-bikes and 2,171 e-rickshaws/loaders.

2. Eligibility Criteria

• Citizenship: All Pakistani citizens, including those from Gilgit-Baltistan (GB) and Azad Jammu & Kashmir (AJK).
• Age Limits:
  • E-bikes: Minimum 18 years; Maximum 65 years.
  • Rickshaws/Loaders: Minimum 21 years; Maximum 65 years.
• Fleet Operators: Eligible to apply for rickshaws/loaders, with eligibility criteria determined by the Steering Committee.

3. Loan Details

• Financing Types: Conventional and Islamic finance.
• Loan Size:
  • E-bikes: Up to PKR 200,000.
  • Rickshaws/Loaders: Up to PKR 880,000.
• Debt-to-Equity Ratio: 80:20 (20% down payment).
  • The equity portion includes both the capital subsidy and the borrower’s share.
  • If the capital subsidy covers the full 20% equity, the borrower is not required to pay any amount.

4. Capital Subsidy

• E-bikes: Up to PKR 50,000.
• Rickshaws/Loaders: Up to PKR 200,000.
• The subsidy is applied first, and any remaining amount is paid by the borrower.

5. Loan Tenure

• E-bikes: Maximum of 2 years.
• Rickshaws/Loaders: Maximum of 3 years.

6. Interest Rate

• Bank’s Pricing: 6-month KIBOR + 2.75%.
• End User Rate: 0% (Full markup subsidy by the Federal Government).

7. EMI Structure

• EMI comprises principal + insurance component only.

8. Lending Platform

• Digital Platform: The scheme will be implemented through a digital platform with minimal human interaction. Banks will integrate with this platform for sharing information and processing applications.

9. OEMs/Vendors & Vehicle Models

• Shortlisted by Engineering Development Board (EDB).
• OEMs are responsible for timely delivery of vehicles to borrowers and for regular after-sales service.

10. Documentation Requirements

• Mandatory Documents:
  • Valid CNIC.
  • Digital undertaking for Driving License.

11. Charges

• Loan Processing Charges: Nil.
• Early Settlement Charges: Nil.
• Late Payment Charges: As per Schedule of Charges (APSC) of individual banks.
• Repossession Charges: APSC to be borne by the borrower.
• Registration Charges: To be borne by the borrower.

12. 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 the Ministry of Industries & Production (MoI&P).

13. Credit Loss Guarantee (CLG)

• Portfolio Guarantee: 20% on First Loss Basis.
• CLG Claim Stage: 180 days from the date the installment was due and not paid by the customer.

Capital Subsidy

The SBP EV Scheme 2025 also offers a capital subsidy:

• Electric Bikes: PKR 50,000 subsidy
• Electric Rickshaws: PKR 200,000 subsidy

This subsidy reduces the upfront cost and makes EVs more affordable for the general public.

SBP EV Installment Plan 2025 How to Apply Online:

Applicants can apply for the scheme through designated banks via SBP’s digital portal. The process is straightforward:

1. Visit the official SBP EV Scheme 2025 online portal.
2. Fill out the application form with accurate personal and financial details.
3. Upload required documents: CNIC, income proof, and address proof.
4. Submit the application and note the application reference number.
5. Wait for verification and loan approval by the bank.

Benefits of the SBP EV Scheme 2025

• Affordable electric mobility for individuals and businesses.
• 0% markup loan under the cost-sharing model.
• Significant capital subsidy for bikes and rickshaws.
• Helps reduce fuel expenses and environmental pollution.
• Encourages use of clean energy in transportation.

SBP EV Scheme Online Registration FAQs:

SBP EV Installment Plan 2025 Conclusion:

The SBP Electric Vehicle Scheme 2025 is a major step toward promoting sustainable transportation in Pakistan. With affordable loans, flexible installments, and attractive subsidies, this scheme provides an excellent opportunity for individuals and businesses to adopt clean energy vehicles.