Legal · Sample
Key Fact Statement (Sample)
This is a representative Key Fact Statement that payd24 will issue per loan once our PayDay lending product (Phase 2) goes live with our NBFC partners. It is provided here for transparency under RBI's Digital Lending Guidelines, 2022.
| Lender (Regulated Entity) | [NBFC partner name] |
| Loan amount | ₹15,000.00 |
| Tenure | 30 days |
| Processing fee | ₹1,500.00 (10% of principal, deducted upfront) |
| Net disbursed amount | ₹13,500.00 |
| Interest amount | ₹450.00 |
| Total repayment | ₹15,450.00 |
| Repayment date | 30 days from disbursement |
| Effective APR | ~85.0% (annualised — RBI mandated disclosure) |
| Cooling-off period | 1 business day; cancel without penalty by emailing the NBFC's grievance officer. |
| Default charges | 5% of principal as late fee per missed cycle, plus daily penal interest. |
| Grievance redressal | advij.in/legal/grievance — RBI Ombudsman: cms.rbi.org.in |
This is illustrative only. The actual KFS issued at the time of borrowing will reflect the specific terms agreed with the NBFC partner.