As drone technology continues to revolutionize sectors such as agriculture, logistics, construction, and surveillance, businesses and individuals in India are increasingly looking for financing options to purchase these cutting-edge devices. To address this demand, banks, NBFCs (Non-Banking Financial Companies), and government-backed schemes are offering specialized loans for drones. Here’s a detailed guide on drone loan options in India:

1. Why Drone Loans are Important

Drones can be expensive, with agricultural drones, survey drones, and advanced professional drones costing anywhere from ₹2 lakhs to ₹20 lakhs or more. For small farmers, startups, and entrepreneurs, upfront costs can be prohibitive. Drone loans bridge this gap, enabling users to invest in drones without straining their finances.

2. Types of Drone Loans Available in India

A. Agricultural Drone Loans

1. Purpose: Designed to help farmers and agricultural businesses purchase drones for precision farming, crop monitoring, and pesticide spraying.

2. Key Providers:

• National Bank for Agriculture and Rural Development (NABARD): Offers subsidized loans for farmers under schemes like the Sub-Mission on Agricultural Mechanization (SMAM).

• Cooperative Banks: Many state-level banks provide low-interest loans specifically for agricultural machinery, including drones.

3. Benefits: Subsidies ranging from 50% to 75% of the cost under government programs like SMAM.

B. Business Loans for Drone Startups

1. Purpose: Designed to fund startups focusing on drone manufacturing, services like mapping, surveying, and drone-based deliveries.

2. Key Providers:

• SIDBI (Small Industries Development Bank of India): Provides loans under its Startup Assistance Scheme to drone entrepreneurs.

• Private Banks and NBFCs: Offer loans for SMEs to purchase drones as part of their operational equipment.

3. Benefits:

• Competitive interest rates.

• Flexibility in repayment terms.

C. General Equipment Loans

1. Purpose: Equipment financing from traditional banks or NBFCs for purchasing drones along with related hardware and software.

2. Key Providers:

• ICICI Bank, HDFC Bank, and Axis Bank offer equipment loans that can be used for drones.

• NBFCs like Tata Capital and Bajaj Finserv.

3. Benefits:

• Available to individuals, businesses, and enterprises.

• Collateral-free loans for small-ticket purchases.

D. State-Sponsored Schemes

1. Purpose: State governments in India promote drone adoption through subsidized loans.

2. Key Examples:

• Maharashtra, Uttar Pradesh, and Karnataka provide additional subsidies and financial assistance for drones in agriculture.

• Schemes tied to the PLI (Production-Linked Incentive) scheme for manufacturing-focused businesses.

E. Loans for Drone Training and Certification

1. Purpose: Drone pilot training and certification are prerequisites for operating drones in India. Loans for training cover these costs.

2. Key Providers:

• Skill India loans under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY).

• Private educational loans for certified courses from DGCA-approved Remote Pilot Training Organizations (RPTOs).

3. Benefits:

• Covers tuition fees and related expenses for pilot training.

3. Eligibility Criteria for Drone Loans

1. For Individuals:

• Proof of income (salary slips, ITRs, etc.).

• Identity proof (Aadhar, PAN, etc.).

• Proof of training or certification (for pilot loans).

2. For Businesses:

• Business registration certificate.

• Financial statements for the past 1-3 years.

• Proof of drone usage in business operations (e.g., contracts, service proposals).

3. For Farmers:

• Land ownership documents.

• Proof of intent for agricultural drone use.

• Eligibility for government subsidies under agricultural schemes.

4. Key Features of Drone Loans

• Loan amounts ranging from ₹1 lakh to ₹50 lakhs or more, depending on the drone type and provider.

• Interest rates typically between 8% and 15% annually, with government subsidies lowering costs for specific use cases.

• Flexible repayment tenures, often between 12 and 60 months.

• Some loans include subsidies or partial grants under government programs.

5. How to Apply for a Drone Loan

1. Choose a Loan Provider:

• Identify whether your need aligns with banks, NBFCs, or government schemes.

2. Gather Documentation:

• Prepare income proof, identity proof, business registration, and other necessary documents.

3. Apply Online or Offline:

• Most banks and NBFCs offer online applications, while cooperative banks and NABARD loans require in-person visits.

4. Availing Subsidies:

• For agricultural or government-backed schemes, ensure proper registration with respective departments (e.g., Agriculture Ministry).

5. Training and Certification:

• Obtain certification from DGCA-approved training centers to increase eligibility.

6. Popular Drone Loan Providers in India

• Banks: HDFC Bank, ICICI Bank, Axis Bank, and State Bank of India (SBI).

• NBFCs: Tata Capital, Bajaj Finserv, and Mahindra Finance.

• Government Agencies: NABARD, SIDBI, and state agriculture departments.

7. Challenges with Drone Loans

• Lack of Awareness: Many farmers and small businesses are unaware of subsidies and loan options.

• Limited Options for Startups: Drone startups might face difficulty in accessing traditional loans due to lack of credit history.

• Collateral Requirements: Some banks require collateral, which may not be feasible for small-scale borrowers.

8. Future of Drone Financing in India

With the government’s push through initiatives like the PLI Scheme, Drone Shakti, and SVAMITVA, the drone financing landscape in India is set to grow. More banks and NBFCs are likely to offer tailored loan products, while government-backed programs will continue to lower costs for end-users.
 

Conclusion

Drone loans in India are a vital tool to democratize access to drones for farmers, startups, and businesses. Whether you’re looking to adopt drones for agriculture, launch a drone services startup, or pursue training, there are financing options available to meet your needs. By combining these loans with government subsidies and schemes, you can make drone technology an affordable reality.