What to place side by side
For every offer, make one comparison sheet with the sanctioned amount, tenure, interest type, repayment frequency, APR or all-in cost where shown, processing charges, insurance or other charges, prepayment terms and the total repayment from the schedule. Ask the lender if an item is unclear.
Why EMI alone can mislead
A longer tenure can lower the monthly payment while increasing the total interest paid. Fees can change the cash you receive at disbursal. A loan that looks easier monthly may not be cheaper overall or suitable for a seasonal business with uneven collections.
Stress-test your repayment
Model a weaker month, not only your best month. Keep a cash buffer for fixed operating costs, and do not assume every invoice will be collected on its due date. An EMI calculator is useful for planning, but the lender’s documents control the actual offer.
Keep the final record
Save the KFS, sanction letter, agreement, repayment schedule and communication on a single folder. Recheck the documents if the lender changes any material term before disbursal.
Sources and further reading
- Reserve Bank of India: Key Fact Statement / Fact Sheet format
- Reserve Bank of India: KFS for loans and advances overview
General information only; compare the lender’s current documents and take professional advice where needed.