Glossary
Key Fact Statement (KFS)
A standard one-page summary of a loan's rate, APR and every charge, given before you sign.
RBI requires lenders to give a Key Fact Statement for retail and MSME loans from 1 October 2024. It shows the interest rate, APR, EMI, fees and grievance contacts. Lenders cannot charge fees that are not in the KFS without your consent.
Related guides
More glossary terms
DeductibleCo-payment (Co-pay)IDV (Insured Declared Value)No Claim Bonus (NCB)Claim Settlement Ratio (CSR)Incurred Claim Ratio (ICR)
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