CM Punjab Car Loan Scheme 2025 0% Interest Online Application Form

CM Punjab Car Loan Scheme 2025

With inflation on the rise, having a personal vehicle has become essential for many households and businesses. However, purchasing a car through installment plans often comes with steep interest rates.

To tackle this challenge, the Government of Punjab Car Loan Scheme, in partnership with the Bank of Punjab (BOP), has introduced the Interest-Free Car Loan Scheme 2025. This program is designed to offer accessible car financing options without interest to eligible residents of Punjab.

How to apply for Punjab car loan scheme 2025

In this article, we’ll break down the key aspects of the scheme, including who can apply, available installment options, and answers to frequently asked questions.

What does the Bank of Punjab Car Loan Scheme entail?

The Punjab Government, in partnership with the Bank of Punjab (BOP), has introduced a Punjab Car Loan Scheme that offers 0% interest. This program aims to make vehicle ownership more accessible by eliminating traditional interest charges and markup costs. Currently, the scheme covers two particular models:

• Changan Karvaan Plus – a practical minivan ideal for families;
• Changan M9 Shehzore – a commercial vehicle perfect for cargo transportation.

This initiative serves as a valuable opportunity for families in need of dependable transportation, as well as small business owners seeking affordable commercial vehicle options

Requirements for the 2025 Interest-Free Punjab Car Loan Scheme

To be considered for the interest-free car financing program, applicants must fulfill the following requirements:

• Must be a resident of Punjab, with a valid CNIC and proof of address to verify residency.
• The applicant must be aged between 21 and 55 years.
• The applicant must be a registered taxpayer with the Federal Board of Revenue (FBR) and hold a valid NTN.
• Should have a consistent and verifiable source of income, confirmed through bank statements
• Must provide two guarantors, both of whom must also reside in Punjab

Initial Payment and Installment Structure Punjab Car Loan Scheme

Although the car loan scheme offers zero-interest financing, applicants are required to make a significant upfront payment. The financial details are outlined below:

• Changan Karvaan Plus: Estimated price – PKR 3,000,000 | Required down payment – PKR 850,000

• Changan M9 Shehzore: Estimated price – PKR 2,500,000 | Required down payment – PKR 750,000

The remaining balance is covered by the Bank of Punjab Car Loan Scheme through an interest-free installment plan. Moreover, the scheme also accounts for additional associated costs, including:

• Registration of the Vehicle
• Installation of a Tracking Device
• Full-Coverage Insurance Policy

How to Apply

• Prepare Required Documents: Gather all necessary paperwork, including your CNIC, NTN, bank statements, proof of address, and information about your guarantors.
• Visit a BOP Branch or Changan Dealership: Go to a participating Bank of Punjab branch or an authorized Changan dealership to initiate the application process.
• Submit Your Application: Fill out the application form and provide all the required documentation.
• Eligibility and Financial Verification: The bank will evaluate your eligibility by reviewing your financial records and credit history .
• Approval and Vehicle Delivery: Once approved , your vehicle will be delivered according to the established schedule.

Frequently Asked Questions (FAQs)

1. Are individuals living outside Punjab eligible to apply for this scheme?

This program is strictly reserved for Punjab residents. However, those living outside the province may still qualify if they have immediate family members—such as a spouse, parent, or sibling—who reside in Punjab.

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2. Is this scheme available to overseas Pakistanis?

Yes, overseas Pakistanis are eligible to apply. However, they must be in Pakistan in person to finalize the application process. Alternatively, they can choose to apply through an eligible family member who resides in Punjab.

3. Are government employees eligible to apply?

Yes, government employees may apply for the scheme as long as they fulfill the eligibility requirements and provide all necessary documentation.

4. Is it possible to finance other vehicles under this scheme?

Currently, the scheme is limited to the Changan Karvaan Plus and Changan M9 Shehzore models.

While the Bank of Punjab does offer financing for other vehicles, those will adhere to the bank’s regular interest-based financing terms.

5. Can I apply if I don’t own permanent residence in Punjab?

Yes, you can still apply even if you don’t own property in Punjab, as long as you have a valid rental agreement in the province.

Conclusion

The Bank of Punjab’s 0% interest-free car loan scheme offers a perfect solution for those looking for affordable vehicle financing.With no additional markup charges and a structured repayment plan, this initiative offers a great opportunity for families and business owners in Punjab to acquire a vehicle without experiencing financial strain.

If you meet the eligibility requirements, this scheme could be the ideal choice for your transportation needs. For additional details, visit the nearest BOP branch Punjab Car Loan Scheme or an authorized Changan dealership today!