The Meri Gari Scheme 2026 is a flagship initiative by the Government of Punjab that allows residents of the province to own a car with a subsidized car loan at just 5% markup. Designed to promote economic mobility, support families, youth, and small business owners, the program offers affordable financing and flexible installment plans with low interest.
What Is the Meri Gari Scheme 2026?
The Meri Gari Scheme 2026 is a low-markup auto financing program that enables eligible applicants to purchase new or certified used vehicles with significantly reduced cost compared to commercial bank loans. Under this program:
- The government subsidizes interest, allowing loans at only 5% markup
- Flexible repayment options spread over years
- Targeted support for low and middle-income families
- Priority quotas for women, youth, and differently-abled applicants
This initiative is part of Punjab’s broader economic support and mobility strategy to empower families and expand employment opportunities.
Key Features of the Meri Gari Scheme
| Feature | Details |
|---|---|
| Markup Rate | 5% only |
| Vehicle Options | New or certified used cars |
| Down Payment | 15%–20% of car value |
| Repayment Tenure | 3 to 7 years |
| Priority Groups | Women, youth, differently-abled |
| Eligibility | Punjab resident with valid CNIC |
| Application | Online via official portal |
Who Can Apply?
To qualify for the CM Punjab Meri Gari Scheme 5% markup car loan, applicants must:
- Be a permanent resident of Punjab with a valid CNIC
- Be between 20 and 50 years old (age criteria may vary)
- Provide proof of income (salary slip or bank statement)
- Have a clean credit history
- Hold a valid driving licence (preferred)
- Women and differently-abled applicants can nominate a driver if needed
Priority is given to women and youth applicants during the selection process, though all eligible residents may apply.
Required Documents
Before beginning the online application, ensure you have:
- CNIC copy (front and back)
- Recent passport-size photograph
- Proof of income (bank statements or salary certificate)
- Utility bill for address verification (electricity or gas)
- Punjab domicile certificate
- Driving licence (if applicable)
Having all documents ready will streamline the application.
How to Apply Online – Step-by-Step Guide
The online application process is designed to be quick and user-friendly:
Step 1: Visit the Official Meri Gari Portal
Go to the Punjab vehicle financing portal (official government site recommended to avoid scams).
Step 2: Create Your Profile
Register with your 13-digit CNIC and a mobile number for OTP verification.
Step 3: Fill in Application Details
Enter your personal information, income details, and preferred vehicle type (new or used).
Step 4: Upload Documents
Upload scanned copies of required documents: CNIC, income proof, domicile, photo, utility bill.
Step 5: Submit Application
Review all information, submit your application, and receive a tracking ID for status updates.
Step 6: Bank Verification & Approval
Once your application is processed, the loan is verified by the partner bank. Upon approval, you will be notified with disbursement details.
Note: In case of high application volume, allocation may be done through a transparent electronic balloting system.
Benefits of the Meri Gari Scheme
- Affordable 5% Markup: Lower than most commercial auto loans, reducing overall cost.
- Low Down Payment: Helps families with limited savings.
- Flexible Installments: Tenure options between 3 to 7 years.
- Priority quotas: Women, youth, and differently-abled applicants receive enhanced consideration.
- Green & Economic Growth: Encourages personal mobility, entrepreneurship, and economic activity.
The goal is to give citizens a realistic pathway to vehicle ownership with predictable financial commitments.
How the Monthly Installments Work
Monthly installments are calculated based on:
- Total loan amount
- Down payment made
- 5% markup rate
- Chosen repayment period (3–7 years)
Example Estimate (subject to change based on car value and tenure):
| Vehicle Price | Down Payment | Loan Amount | Monthly Installment (Approx.) |
|---|---|---|---|
| Rs 2,000,000 | Rs 300,000 | Rs 1,700,000 | ~Rs 27,000 (over 5 years) |
Installment amounts vary by vehicle choice and repayment period.
Priority and Quotas
The scheme includes special consideration for:
- Women applicants
- Differently-abled individuals
- Youth (ages 20–30)
- Applicants proposing business or transport plans
Exemptions and additional quota support may be announced by the government from time to time.
Important Tips Before Applying
- Only apply through the official Punjab government portal.
- Never pay third parties for guaranteed approval.
- Ensure your income proof aligns with bank requirements.
- Keep your mobile number updated for tracking and OTPs.
FAQ – Meri Gari Scheme 2026
Q1: What is the markup rate under the Meri Gari Scheme 2026?
The scheme offers a subsidized 5% markup rate, which is significantly lower than most commercial auto loans.
Q2: Can I choose a used vehicle?
Yes. Applicants may select certified used cars (usually up to 3 years old) under the program.
Q3: Is the application process online?
Yes. The entire process, from registration to status tracking, is done through the official online portal.
Q4: Are women eligible to apply without a driving licence?
Yes. Women who do not hold a licence may nominate a driver; priority is still given in selection.
Q5: How long do I get to repay the loan?
You can select a repayment period from 3 to 7 years depending on affordability and eligibility.
Q6: Does the scheme cover vehicle registration and taxes?
Typically, the scheme covers financing only. Registration and taxes are the responsibility of the applicant unless otherwise stated by the government.