Loan for Pilot Training in India: A Complete Guide
Introduction
Becoming a commercial pilot is a dream for many in India, but the high cost of pilot training can be a major hurdle. Many aspiring pilots require financial assistance to fund their education. Fortunately, several banks and financial institutions offer loans for pilot training in India, helping students achieve their aviation dreams.
Types of Loans Available for Pilot Training
There are mainly two types of loans available for pilot training in India:
Education Loans – Offered by banks and financial institutions for professional courses, including pilot training.
Personal Loans – Can be used for training but often come with higher interest rates and shorter repayment periods.
Banks & Financial Institutions Offering Pilot Training Loans
Several banks and NBFCs (Non-Banking Financial Companies) provide loans for aviation courses, including CPL training:
- Public Sector Banks
State Bank of India (SBI) Aviation Loan
Maximum Loan Amount: ₹50 lakh
Interest Rate: 8.50% – 10.50% (varies)
Repayment Tenure: Flexible
Collateral Required: Yes, for loans above ₹7.5 lakh
Loan disbursed only after ground school completion
Punjab National Bank (PNB Udaan Loan)
Maximum Loan Amount: ₹50 lakh
Interest Rate: 9% – 11%
Repayment Tenure: Flexible
Security: Collateral required for loans above ₹7.5 lakh
Loan disbursed only after ground school completion
- Private Sector Banks
HDFC Bank Education Loan
Maximum Loan Amount: ₹40 lakh (higher for select institutes)
Interest Rate: 9% – 12%
Collateral Required: For loans above ₹7.5 lakh
Repayment: Flexible
Loan disbursed only after ground school completion
ICICI Bank Education Loan
Maximum Loan Amount: ₹50 lakh
Interest Rate: 9% – 11%
Moratorium Period: Course duration + 6 months
Repayment Tenure: Flexible
Loan disbursed only after ground school completion
- NBFCs & Private Lenders
Credila (HDFC Education Loan Subsidiary)
Specializes in loans for international pilot training
Collateral required for higher loan amounts
Loan disbursed only after ground school completion
Avanse Financial Services
Provides loans for pilot training with flexible repayment options
Interest rates vary based on credit profile
Loan disbursed only after ground school completion
Auxilo Education Loan
Up to 100% financing for CPL training
Competitive interest rates and flexible repayment options
Loan disbursed only after ground school completion
Tata Capital Education Loan
Offers funding for aviation training with flexible repayment
Loan disbursed only after ground school completion
Fly Finance
Specializes in pilot training loans with tailored repayment plans
Loan disbursed only after ground school completion
Eligibility Criteria for Pilot Training Loans
Each lender has specific requirements, but general eligibility criteria include:
Indian nationality
Admission to a DGCA-approved flying school in India or abroad
Minimum educational qualification: 10+2 with Physics & Mathematics
Co-applicant (parent/guardian) for loan sanction
Satisfactory credit score (for co-applicant)
Documents Required
Admission letter from a recognized pilot training academy
Fee structure of the course
KYC documents (Aadhar, PAN, etc.)
Academic certificates (10th, 12th mark sheets)
Income proof of co-applicant (salary slips, ITR, etc.)
Collateral documents (if applicable)
Loan Repayment & Moratorium Period
Most education loans offer a moratorium period (course duration + 6–12 months), allowing students to start repayment only after completing the course. Repayment tenures are flexible, depending on the bank and loan amount.
Alternatives to Bank Loans
Financial Assistance from Airlines – Some airlines sponsor students under a bond agreement.
Crowdfunding & Sponsorships – Alternative financing methods for those who lack collateral or co-applicants.
Conclusion
Pilot training is a rewarding investment. With various banks and financial institutions offering loans for pilot training in India, aspiring pilots can pursue their dreams without financial constraints. Before applying, compare interest rates, repayment terms, and eligibility criteria to choose the best financing option for your needs.
Tip: Always check with banks for updated interest rates and terms before applying.