In a move to promote green mobility and make electric vehicles more accessible to everyday consumers, MCB Bank has launched a 0% markup installment plan for electric scooters, exclusively for its Visa Credit Cardholders. The new scheme allows eligible users to purchase select Benling e-scooter models on interest-free terms, with repayment options spread over 12 or 24 months, effectively lowering the cost barrier for environmentally conscious urban commuters.
The initiative covers a range of Benling models, including the high-demand Benling Rider (72V, 35 AH, 1200W) priced at PKR 240,000 and the compact Eco Dost ED-70 (48V, 23 AH, 400W) available at PKR 220,000. Customers can acquire these e-scooters through simple monthly installments—starting from as low as PKR 10,000—without incurring any additional interest or hidden charges. Other models, priced between PKR 100,000 and PKR 150,000, are also included in the offer, with similar flexible financing options available for up to 24 months.
This offer is now live across all MCB Bank branches and participating Benling showrooms, including prominent Alfa Mall outlets located in Karachi, Lahore, and Islamabad. The application process is straightforward: interested buyers need to visit an MCB branch or authorized Benling dealer with their MCB Visa Credit Card and valid identification. Upon approval, the scooter’s full price is billed to the credit card and seamlessly converted into equal, interest-free monthly installments.
The response from analysts has been largely positive, with financial experts noting that such user-centric financial products are key to accelerating green technology adoption. While the State Bank of Pakistan (SBP) provides overarching guidelines for renewable energy financing, dedicated schemes for electric vehicles—particularly two-wheelers—have seen limited uptake. According to investigative data, banks can lend for EV purchases at up to 6% annual markup under SBP’s Climate-Resilient Strategy 2023–2028. However, MCB’s zero-interest approach sets a precedent for other institutions by making the process more accessible and attractive for everyday consumers.
The new plan aligns with Pakistan’s broader efforts to curb urban air pollution and reduce carbon emissions, both of which are pressing issues in its major metropolitan areas. As the country continues to push for climate-resilient infrastructure and clean-energy adoption, such financial products can play a crucial role in driving behavior change among commuters.
MCB’s initiative is also a timely response to the government’s and SBP’s call for banks to take a more proactive role in supporting green-finance innovation. By making electric scooters affordable and hassle-free to own, the bank is not only enhancing customer convenience but also contributing to the national vision for a cleaner, more sustainable urban transport future.
As of June 2024, Pakistan’s renewable-energy financing program had disbursed PKR 94.7 billion across more than 4,000 projects—mostly in solar and wind sectors. But efforts like MCB’s e-scooter scheme could now help catalyze momentum in the electric vehicle space, particularly among city dwellers seeking practical, eco-friendly transportation solutions.
