Pakistan PAVE EV Banks List 2025 – How to Apply for PM E-Bike & Rickshaw Subsidy

In this article, we are sharing all the details about the Pakistan PAVE EV Banks List 2025 and how citizens can apply for electric vehicle subsidies under the PM scheme. The PAVE program is a government initiative to promote electric bikes, rickshaws, and loaders through easy financing and direct subsidies. To make this scheme successful, 17 official banks are working as partners. These banks will help applicants with loans, document verification, and installment plans. With both conventional and Islamic financing available, people across all provinces can benefit. Here’s how you can apply and what banks are involved.

Pakistan PAVE EV Banks List 2025 Overview

What Are PAVE EV Partner Banks?

PAVE EV partner banks are selected financial institutions helping the government implement the electric vehicle scheme. They process loans, verify documents, and apply subsidies directly. These banks offer support in all provinces including Punjab, Sindh, and KPK. Some also offer Islamic financing, making the scheme accessible to everyone. Their role is vital for smooth, fair, and fast delivery of EV loans and subsidies.

Complete List of PAVE EV Banks in Pakistan

Names and Financing Type

The following 17 banks are officially working with the PAVE EV Scheme 2025:

• National Bank of Pakistan (NBP)

• Habib Bank Limited (HBL)

• United Bank Limited (UBL)

• Meezan Bank Limited (Islamic Financing)

• Bank of Punjab (BOP)

• MCB Bank Limited

• Askari Bank Limited

• Allied Bank Limited (ABL)

• JS Bank Limited

• Bank Alfalah Limited

• Sindh Bank

• Bank of Khyber (BOK)

• Soneri Bank Limited

• Bank Islami Pakistan Limited (Islamic Financing)

• Al Baraka Bank Pakistan Ltd (Islamic Financing)

• Faisal Bank

• SAMBA Bank Limited

✅ Total: 17 Partner Banks

How to Apply for PM EV Subsidy 2025

Step-by-Step Online Process

To apply for the electric bike or rickshaw subsidy, follow these steps:

1. Go to the official website: www.pave.gov.pk

2. Fill out the online application form using your CNIC

3. Select your preferred bank from the official partner list

4. Upload required documents like CNIC, income proof, address, and guarantor (if needed)

5. Bank verifies your application and processes the loan

6. Subsidy is adjusted automatically and you pay the rest in easy installments

PAVE EV Loan and Bank Coverage by Region

Province-Wise Bank Availability

Each province has access to specific partner banks, making the scheme available nationwide.

• Punjab: BOP, HBL, UBL, ABL, MCB, Meezan

• Sindh: Sindh Bank, JS Bank, Soneri Bank, Al Baraka

• KPK: Bank of Khyber, Askari Bank, UBL, HBL

• Nationwide: NBP, HBL, UBL, Meezan, MCB

This wide coverage ensures that applicants from big cities and small towns can participate in the program.

Benefits of Using PAVE Partner Banks

Why Choose Partner Banks?

• Quick loan approval and disbursement

• Direct government subsidy adjustment

• Low monthly installments

• Islamic and conventional financing options

• Digital and branch-based customer support

These banks simplify the entire process, from application to subsidy transfer, making the experience user-friendly and transparent for every applicant.

Documents Needed for PAVE Bank Loan

Checklist Before You Apply

Before applying, make sure to have the following documents ready in scanned format:

• Valid CNIC

• Proof of income (salary slip or business income)

• Residential address proof

• Guarantor details (if required by the bank)

• Application confirmation from the PAVE portal

Make sure all documents are clear and up to date to avoid delays in processing.

FAQs

Q1: Can I choose any bank for my EV loan?
Yes, you can select any of the 17 partner banks based on your location and financing preference.

Q2: Do I need to visit the bank after applying online?
In some cases, yes. Final verification or loan signing may require a branch visit.

Q3: What if I don’t want an interest-based loan?
You can choose Islamic financing through Meezan Bank, Bank Islami, or Al Baraka Bank.

Q4: Will the subsidy go into my account?
No, the subsidy is directly adjusted against the total vehicle cost, reducing your monthly payments.