Availability is limited: Currently, dedicated drone loan schemes are not widespread across traditional Indian banks. However, some Non-Banking Financial Institutions (NBFCs) and specialized lenders are starting to offer drone financing options.
Eligibility is evolving: Specific requirements might vary, but generally, individuals or businesses involved in drone operations (agriculture, mapping, delivery, etc.) with a viable business plan and good credit history may be eligible.
Focus on commercial applications: Loans are more likely to be available for drones used for commercial purposes like agriculture, surveying, or industrial applications, rather than purely recreational models.
Varied depending on needs: Loan amounts will depend on the cost of the drone and its intended use. Repayment terms might range from 12 to 36 months, with interest rates potentially higher than traditional loans.
Business plan outlining drone usage and revenue generation
DGCA registration and pilot license (if applicable)
Financial statements or income tax returns
Identity proof and address verification documents
DGCA registration and pilot license (if applicable)
Financial statements or income tax returns
Identity proof and address verification documents
Nascent market: The drone industry and loan options are still developing, leading to limited availability and potentially stricter eligibility criteria.
Exploring other avenues: Individuals might consider leasing drones, seeking grants for specific projects, or utilizing personal or business loans with a clear justification for drone purchase.