Guides · Personal loan
What is a Key Fact Statement, and what should I check in it?
In short
A Key Fact Statement is the standardised sheet RBI requires a regulated lender to give you before you sign a loan, showing the annual percentage rate, every fee, the repayment schedule and whom to complain to. Read the APR and the total amount payable — those two numbers are the real cost, whatever the headline rate says.
Updated 6 September 2026 · by Finsa, a Lending Service Provider — not a lender.
What is on it
The KFS exists so that two loans can be compared on the same lines. It states the sanctioned amount, the tenure, the interest rate and how it can change, the processing and other fees, the annual percentage rate that folds the fees in, the EMI and the total you will repay, any charges for late payment or early closure, and the name and contact of the lender's grievance officer.
Under RBI's digital-lending framework, loans arranged through an app or a Lending Service Provider must come with the KFS from the regulated lender itself, and you get a cooling-off period after signing during which you can exit by repaying the principal and proportionate charges.
| APR | The rate with all fees folded in — compare this, not the advertised rate |
|---|---|
| Total amount payable | Principal plus all interest and fees over the tenure |
| Prepayment / foreclosure charge | Whether closing early costs anything |
| Grievance officer | A named person and a channel — required, and a sign the lender is regulated |
Red flags
No KFS at all is the biggest one: a regulated lender must provide it. Insurance or add-on products bundled into the amount without a separate line, a rate described as introductory without the later rate stated, and fees that appear in the agreement but not in the KFS are the others. If the numbers on the two documents differ, the KFS is the one to hold the lender to.
Where Finsa stands
Finsa is not a lender: it reads your report with your consent and puts your profile in front of RBI-regulated banks and NBFCs, who decide eligibility, rate and approval. Every offer that reaches you through Finsa comes from a regulated lender with its own KFS; Finsa does not add a fee to the loan, and the lender disburses straight to your bank account.
People also ask
- Is a Key Fact Statement mandatory in India?
- Yes, for regulated lenders — banks, NBFCs and other RBI-regulated entities — across retail loans, and explicitly for loans arranged through digital lending apps and Lending Service Providers.
- What is APR on a loan?
- The annual percentage rate: the interest rate plus the fees, expressed as one yearly rate, so that two loans with different fee structures can be compared honestly.
- Whom do I complain to if the loan is not as described?
- The lender's grievance officer named on the KFS first. If the complaint is not resolved within 30 days you can escalate to the Reserve Bank of India under the Integrated Ombudsman Scheme at cms.rbi.org.in.
Sources
One application. Our lender partners answer.
Two minutes, a soft check that never touches your score. RBI-regulated banks & NBFCs send the offers; you pick.
Indicative starting rate. Your actual rate, fees and eligibility are set by the lending partner based on your credit profile.