E-Rickshaw Kalyan Yojana 2026: 9% Interest Loan for E-Rickshaw, Eligibility & How to Apply
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Quick answer
E-Rickshaw Kalyan Yojana offers affordable cooperative bank loans at a 9% annual interest rate to help unemployed residents of Uttarakhand buy an e-rickshaw. Eligible applicants aged up to 55 years also receive access to government insurance coverage. Interested candidates must apply offline through their nearest cooperative bank.
At a glance
| Main benefit | 9% annual interest loan for e-rickshaw purchase |
| Ministry / department | Co-Operative Department |
| Level | State Government (Uttarakhand) |
| Age | Up to 55 years |
| Application mode | Offline |
About the scheme
Launched by the Cooperative Department of Uttarakhand, the E-Rickshaw Kalyan Yojana (ERKY) promotes self-employment and sustainable livelihood opportunities among jobless residents. The initiative enables individuals to purchase an e-rickshaw by securing credit from local cooperative banks at a subsidised interest rate of 9% per annum. Additionally, account holders can access social security schemes like Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana. On approval, the bank pays the sanctioned amount straight to the vehicle dealer, and borrowers can repay in daily or monthly instalments.
Benefits
- Cooperative bank loan for buying an e-rickshaw at a 9% annual interest rate.
- Insurance cover of ₹2.00 lakh under Pradhan Mantri Suraksha Bima Yojana for an annual premium of ₹12 through the savings account.
- Optional life cover under Pradhan Mantri Jeevan Jyoti Bima Yojana for beneficiaries aged 18 to 50 years at an annual premium of ₹330.
- Flexible loan repayment through daily or monthly instalments.
- Direct disbursement of loan proceeds to the authorized vehicle dealer.
Who can apply (eligibility)
- Must be a permanent resident of Uttarakhand.
- Must be currently unemployed.
- Must hold a valid driving license.
- Must not be more than 55 years of age.
- Must open an account with the concerned cooperative bank.
- Applicant and two guarantors must enroll as nominal members of the lending cooperative bank.
Documents required
- Dealer’s quotation for the e-rickshaw
- Details and identification of two guarantors
- Uttarakhand Permanent Resident Certificate
- Aadhaar Card
- Bank account statement from the relevant cooperative bank
- Voter ID card with local address
- Electricity bill or water bill issued in the applicant’s name
- Valid driving license
- Tenancy certificate (mandatory if living in rented accommodation)
How to apply
- 1Visit the nearest branch of the cooperative bank in Uttarakhand.
- 2Collect the E-Rickshaw Kalyan Yojana loan application form from the bank counter.
- 3Open a savings account in that cooperative bank branch and register the applicant and two guarantors as nominal members.
- 4Fill out the application form carefully and attach all required documents, including the dealer quotation and guarantor details.
- 5Submit the completed application form along with photocopies of the documents to the cooperative bank branch.
- 6Await bank verification; once sanctioned, the bank transfers the loan funds directly to the e-rickshaw dealer.
Frequently asked questions
Who is eligible for E-Rickshaw Kalyan Yojana?+
Unemployed permanent residents of Uttarakhand who hold a valid driving license and are not more than 55 years old can apply.
What is the interest rate on the e-rickshaw loan?+
The loan is provided by cooperative banks at an annual interest rate of 9%.
How is the loan amount paid out?+
Upon loan approval, the cooperative bank disburses the funds directly to the selected e-rickshaw dealer.
What insurance benefits are provided under this scheme?+
Account holders receive ₹2.00 lakh accidental insurance under PMSBY for ₹12 per year, and eligible members aged 18 to 50 can join PMJJBY for an annual premium of ₹330.
Can rural residents apply for this scheme?+
Yes, unemployed youth from rural, semi-urban, and urban areas of Uttarakhand are fully eligible.
Is the application process online or offline?+
The application process is offline; you must visit your nearest cooperative bank branch in Uttarakhand to apply.
NaukriZila is not a government website. Apply only on the official portal; never pay anyone to apply for a government scheme. Source: myScheme (Government of India)