Key Fact Statement definition

Key Fact Statement means a statement of key facts and terms of a Sanctioned Loan, in simple and easier to understand language, provided by DMI to the Borrower, from time to time in a standardized format as prescribed under applicable law, containing apart from other necessary information, details of annual percentage rate (APR), details of collection agency, if any, details of grievance redressal officer, Cooling off period, etc.;
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Key Fact Statement means the disclosure document summarizing all the important information’s of the Card and shall include Fees, Fees for International Transaction, Murabaha Profit Rate, Cooling Period and general terms applicable on the Card which needs to be abide by the Cardholder.
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Key Fact Statement means a disclosure document describing the key features of a credit agreement in a simplified manner;
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Examples of Key Fact Statement in a sentence

  • The Borrower agrees to borrow from the Bank and the Bank agrees to lend to the Borrower set out in the Schedule hereto, on the terms and conditions stated herein and/or Key Fact Statement hereof.

  • Borrower hereby agree and irrevocably authorize you Bank to debit every month a sum of EMI mentioned in schedule 1 (Key Fact Statement) of Agreement towards repayment of the loan from my/our Savings Bank or Current Account/CC/OD Account and credit to the loan account with Branch of the South Indian Bank, loan repayment till the entire loan with interest is liquidated.

  • EMI shall be as calculated by DMI as required for amortization of Drawdowns within their respective tenure and Interest payable thereon and not exceeding the maximum EMI as provided in the Key Fact Statement.

  • This may apply if the Cardholder fails to follow the safeguards as specified by Union Bank of India in these Terms and Conditions, the MITC or the Key Fact Statement or otherwise.

  • All amounts in default for payment (i.e., not paid by the Borrower when due to the Bank), costs, charges and expenses debited to the Loan account shall attract penal interest accrued at a fixed rate as per the Key Fact Statement.


More Definitions of Key Fact Statement

Key Fact Statement or “KFS” means a statement of key facts of a loan agreement, in simple and easier to understand language, provided to the borrower in a standardized format.
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Key Fact Statement means key fact statement setting out the trade terms and risks associated therewith or documents equivalent thereto.
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Key Fact Statement means Key Fact Statement provided by DMI to the Borrower, containing, apart from other necessary information, details of APR, the recovery mechanism, details of grievance redressal officer, cooling off period, etc.;
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Key Fact Statement or "KFS" shall mean and include a standard format document containing the details of Annual Percentage Rate, the recovery mechanism, details of grievance redressal officer designated specifically to deal with digital lending/ FinTech related matter and the cooling-off/ look-up period, apart from all applicable fee and charges and other necessary information.
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Key Fact Statement means a statement of key facts and terms of a Sanctioned Loan, in simple and
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Key Fact Statement means key fact statement setting out the trade terms and risks associated with the financial or documents equivalent thereto.
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Key Fact Statement means the disclosure document summarizing all
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