An SME business loan supports small and medium businesses with tailored financing for expansion, marketing, or equipment. Offered by banks and NBFCs, these loans come with flexible terms and quick disbursal. Eligibility depends on business turnover, credit history, and vintage. Government schemes also offer SME loans with interest subsidies and zero collateral. Always compare multiple lenders and review the total cost of borrowing to make an informed decision.

If you're planning to buy a pre-owned vehicle, understanding used car loan eligibility is essential. Lenders have specific criteria you must meet to get approved for financing. Knowing these requirements helps you prepare and increases your chances of approval.

1. Age of Applicant: Most banks require applicants to be between 21 and 60 years old.
2. Income Stability: Salaried individuals must typically earn a minimum of ₹20,000/month, while self-employed must show consistent income.
3. Employment History: A minimum of 1-2 years of work stability boosts your used car loan eligibility.
4. Credit Score: A credit score of 700+ is preferred by most lenders for smooth approval.
5. Car Condition: The used vehicle should not be older than 10 years and must be in good working condition.

• PAN & Aadhaar card
• Salary slips or ITR
• Bank statements
• Proof of residence

Your used car loan eligibility can be easily improved by maintaining a good credit score and steady income. Check with multiple lenders to get the best deal on your used car loan.