Capnix
Become a Partner

Key fact statement: what the KFS must show before you sign

A key fact statement, or KFS, is a short standard summary the lender must give you before you sign. It shows the loan amount, interest rate, fees, the Annual Percentage Rate (APR) and key terms in one place. A fee missing from the KFS cannot be charged later without your explicit consent.

Loan products, rates, and eligibility are determined by the lenders on our panel. Capnix is not a lender and does not lend its own capital. We run your loan journey end to end.

Last checked

Key fact statement: who must give it

RBI requires every regulated lender to give a KFS for all new retail and MSME term loans sanctioned on or after 01-Oct-2024, including fresh loans to existing customers (RBI notification, 15-Apr-2024). Digital loans need one too (RBI notification).

How lenders use the KFS

The KFS is the lender's document, not Capnix's. It sets out:

  • the amount, tenor and instalments;
  • the interest rate and every fee and charge;
  • the APR, the yearly cost including interest and all other charges (RBI notification);
  • for digital loans, the cooling-off period, at least one day, in which you can exit by repaying principal and the proportionate APR (RBI notification, 08-May-2025).

Any fee not in the KFS cannot be charged at any stage of the loan without your explicit consent (RBI notification).

Example

Two offers show the same interest rate. One KFS lists a 2% processing fee; the other lists none. The APR line on each KFS shows the gap at once, which is why you compare APRs, not headline rates.

Frequently asked questions

Key Fact Statement, also written Key Facts Statement.

The 2024 rule names term loans. Ask your lender for the cost summary on any facility.

Not without your explicit consent (RBI notification).

Sources

Related