1. Document Description and Entity Definition
1.1 Nature of This Document
This Key Information Disclosure Document for Revolving Credit Line Products (hereinafter referred to as the "Disclosure Document") is prepared by Grapeinfo Technology Private Limited (hereinafter referred to as "we," "us," or "our") in accordance with Indian financial regulatory requirements, with the aim of comprehensively and transparently presenting to you all core elements, fee structures, and user rights relating to the personal revolving credit line products applied for through the GrapLoan application.
This Disclosure Document is an integral part of the credit line application process and should be read together with the User Service Agreement and the Privacy Policy. The content described in this document is product information and does not constitute a credit offer to any user. The final credit line terms shall be subject to our approval results and the credit line usage agreement.
1.2 Explanation of the Key Fact Statement
In accordance with the relevant requirements of the Reserve Bank of India (RBI) regarding Key Fact Statements, all retail and MSME credit products must provide you with a standardized Key Fact Statement prior to the execution of the credit line usage agreement. Such statement will be presented in a language you understand, setting out core information such as the annualized interest rate, fee breakdown, and repayment schedule. Any fees not listed in the Key Fact Statement shall not be charged to you during the drawdown period.
1.3 Role of the Service Provider
We are the direct provider of personal revolving credit line services. We establish and maintain your exclusive revolving credit line account. With just one credit assessment and credit approval review, you can obtain a revolving credit line, which you can draw down at any time and repay at any time during the validity period.
Our responsibilities include:
- 1.3.1 Conducting credit assessment on you and granting a corresponding credit line.
- 1.3.2 Establishing and maintaining your exclusive revolving credit line account.
- 1.3.3 Reviewing and approving drawdown applications you submit and arranging fund disbursement.
- 1.3.4 Processing your repayment operations and restoring available credit in real time.
- 1.3.5 Providing account management and customer service support.
- 1.3.6 Fulfilling compliance obligations and submitting necessary reports to regulatory authorities.
Statement of Limitation of Liability:
As the direct provider of the revolving credit line service, the Platform assumes full responsibility for credit assessment, credit line management, fund disbursement, and risk management, ensuring that every fund flow is clearly traceable, compliant, and transparent.
2. Basic Product Elements
2.1 Product Type
- 2.1.1 Product Name: GrapLoan Personal Revolving Credit Line.
- 2.1.2 Product Nature: Digital unsecured revolving credit line (Line of Credit), requiring no collateral or guarantor.
- 2.1.3 Governing Laws: Indian Contract Act, 1872; Reserve Bank of India Act, 1934; Digital Personal Data Protection Act, 2023; and relevant guidelines issued by the RBI.
- 2.1.4 Primary Regulatory Authority: Reserve Bank of India (RBI).
2.2 Credit Line Range
- 2.2.1 Minimum Credit Line: ₹3,000.
- 2.2.2 Maximum Credit Line: ₹1,00,000.
The actual credit line granted shall be determined by us based on a comprehensive assessment of the following factors:
- 2.2.3 Your credit score and credit history.
- 2.2.4 Your income level and employment stability.
- 2.2.5 Your debt-to-income ratio.
- 2.2.6 Our internal risk models and scorecards.
2.3 How the Revolving Credit Line Works
This product adopts a revolving available credit line model. After credit approval, you will obtain an exclusive revolving credit line, which operates as follows:
- 2.3.1 Total Credit Line: The upper limit of the credit line you have been approved for.
- 2.3.2 Available Credit: The unused portion of the total credit line, which can be drawn down at any time.
- 2.3.3 Drawdown Operations: You may initiate a drawdown application at any time within the available credit limit, and funds will be disbursed rapidly upon approval.
- 2.3.4 Credit Line Deduction: Each successful drawdown correspondingly reduces the available credit.
- 2.3.5 Credit Line Restoration: After repaying the principal of a drawdown, the corresponding available credit is restored in real time and can be used again.
- 2.3.6 Revolving Use: After repayment, the credit line is automatically restored without the need to reapply for credit approval, achieving "one-time credit approval, revolving use."
2.4 Drawdown Tenure
- 2.4.1 Minimum Drawdown Tenure: 3 months.
- 2.4.2 Maximum Drawdown Tenure: 12 months.
You may choose a suitable tenure for each drawdown within the range of 3 to 12 months. Longer tenures result in correspondingly higher total interest costs.
2.5 Interest Rate Structure
- 2.5.1 Interest Type: Fixed annual interest rate (the applicable rate for each drawdown is determined at the time of drawdown and remains unchanged throughout the drawdown period).
- 2.5.2 Annual Interest Rate Range: 18% to 30%.
The final applicable interest rate shall be determined by us based on a comprehensive assessment of the following factors:
- 2.5.3 Your credit score and credit history.
- 2.5.4 Drawdown amount and tenure.
- 2.5.5 Your income level and employment stability.
- 2.5.6 Your credit line usage and historical repayment records.
- 2.5.7 Our internal risk pricing model.
3. Detailed Fee Structure
3.1 Service Fees
Service fees are one-time comprehensive charges deducted directly from the drawdown amount at the time of each drawdown disbursement. The specific components are as follows:
- 3.1.1 Application Processing Fee: Covers administrative costs such as drawdown application processing, document verification, and account management. The rate is 0.2% to 1.2% of the drawdown amount.
- 3.1.2 Credit Inquiry Fee: Covers credit report acquisition and credit score analysis. The rate is 0.1% to 0.3% of the drawdown amount.
- 3.1.3 Risk Review Fee: Covers risk assessment, fraud detection, and compliance checks. The rate is 0.1% to 0.3% of the drawdown amount.
- 3.1.4 Technology Service Fee: Covers platform usage, technical maintenance, and digital service support. The rate is 0.1% to 0.2% of the drawdown amount.
Total Service Fees:
Combining all the above charges, the total service fee rate is 0.5% to 2.0% of the drawdown amount.
Collection Method:
Deducted in a lump sum at the time of drawdown disbursement. The amount you actually receive is the balance after deducting service fees and corresponding taxes.
For example, on a drawdown amount of ₹50,000, the service fee would be approximately ₹250 to ₹1,000.
3.2 Interest Charges
- 3.2.1 Interest Calculation Method: Interest is calculated on a daily basis.
- 3.2.2 Calculation Formula: Interest = (Annual Interest Rate ÷ 360) × Drawdown Amount × Actual Number of Drawdown Days.
- 3.2.3 Repayment Method: Each drawdown shall be repaid in a lump sum of full principal and interest upon maturity.
3.3 Goods and Services Tax (GST)
- 3.3.1 Legal Basis: Indian Goods and Services Tax Act, 2017.
- 3.3.2 Applicable Tax Rate: 18%.
- 3.3.3 Tax Target: Levied only on the service fee portion; the interest portion is exempt from GST.
- 3.3.4 Calculation Formula: GST Payable = Service Fee × 18%.
3.4 Late Payment Fees
- 3.4.1 Definition of Default: Failure to repay the current amount due in full by the end of the agreed repayment date.
- 3.4.2 Late Fee Rate: Charged daily at 0.5% of the current principal due.
- 3.4.3 Calculation Formula: Late Fee = Current Principal Due × Number of Days Overdue × 0.5%.
- 3.4.4 Fee Cap: The aggregate late fees shall not exceed the total principal amount of the loan.
- 3.4.5 Other Consequences: Default behavior will be reported to credit reference agencies, resulting in a decrease in your credit score and potentially affecting your available credit and future credit granting.
4. Cost Calculation Examples
4.1 Explanation of Simulated Examples
The following examples are simulated calculations provided solely to help you understand the fee structure. They do not represent actual approval results or commitments.
Assumed Parameters:
- 4.1.1 Drawdown Amount: ₹1,00,000.
- 4.1.2 Drawdown Tenure: 180 days.
- 4.1.3 Annual Interest Rate: 18%.
- 4.1.4 Service Fee Rate: 2.0%.
Fee Breakdown:
- 4.1.5 Service Fee: ₹1,00,000 × 2.0% = ₹2,000.
- 4.1.6 Goods and Services Tax (GST): ₹2,000 × 18% = ₹360.
- 4.1.7 Total Interest: (18% ÷ 360) × 180 × ₹1,00,000 = ₹9,000.
- 4.1.8 Net Amount You Receive: ₹1,00,000 - ₹2,000 - ₹360 = ₹97,640.
- 4.1.9 Total Amount Due at Maturity: ₹1,00,000 + ₹9,000 = ₹1,09,000.
Special Note:
The above figures are for illustrative purposes only. Your actual interest rate, fees, and repayment amounts shall be subject to those disclosed in the credit line usage agreement and the Key Fact Statement. In accordance with RBI regulations, any fees not listed in the Key Fact Statement shall not be charged to you during the drawdown period.
5. Application and Usage Process
5.1 Eligibility Requirements
You must simultaneously satisfy all of the following conditions to apply for a credit line:
- 5.1.1 Age Requirement: At least 18 years of age.
- 5.1.2 Nationality and Residency Requirement: A lawful resident of India.
- 5.1.3 Income Requirement: Possess a lawful and stable source of income.
- 5.1.4 Credit Requirement: No current serious overdue records or malicious default records.
- 5.1.5 Documentation Requirement: Able to provide valid identity verification and income verification documents.
5.2 Credit Line Application Steps
The complete credit line application process is as follows:
- 5.2.1 Step 1: Download the GrapLoan application and complete account registration.
- 5.2.2 Step 2: Fill out the online application form, providing personal information, employment details, and financial status.
- 5.2.3 Step 3: Upload identity verification documents and income verification documents as prompted by the system.
- 5.2.4 Step 4: Review the information and submit the credit line application.
- 5.2.5 Step 5: We initiate the credit assessment and risk analysis process.
- 5.2.6 Step 6: You receive notification of the approval result.
- 5.2.7 Step 7: If approved, electronically sign and confirm the credit line usage agreement online.
- 5.2.8 Step 8: The credit line is activated, and you can draw down and use funds at any time within the credit limit.
5.3 Drawdown Usage Process
After obtaining the credit line, each drawdown operation is as follows:
- 5.3.1 Step 1: Log in to the GrapLoan application and check your current available credit.
- 5.3.2 Step 2: Enter the drawdown amount and select the repayment tenure.
- 5.3.3 Step 3: Submit the drawdown application.
- 5.3.4 Step 4: The system performs automatic approval based on available credit and risk control rules.
- 5.3.5 Step 5: Upon approval, funds are rapidly disbursed to your designated bank account.
5.4 Processing Times
- 5.4.1 Credit Line Approval: After submitting a complete application, eligible applications may be approved in as fast as 1 to 5 minutes.
- 5.4.2 Credit Line Activation: Effective immediately upon approval.
- 5.4.3 Drawdown Approval: Based on available credit, typically completed within minutes.
- 5.4.4 Fund Arrival: Typically credited within 24 to 48 hours after drawdown approval.
Actual processing times may vary depending on the completeness of application materials, verification processes, and bank processing speeds.
6. Repayment Management
6.1 Repayment Method
- 6.1.1 You are required to initiate repayment operations manually through the repayment function within the GrapLoan application.
- 6.1.2 Specific supported payment channels shall be subject to the actual display within the application.
- 6.1.3 Each drawdown must be repaid in full (principal and interest) on the agreed repayment date.
6.2 Credit Line Restoration Rules
- 6.2.1 Principal Repayment Restoration: After repaying all or part of the principal of a drawdown, the corresponding amount of available credit is restored in real time and can be used again.
- 6.2.2 Interest and Fee Repayment: Repaying only interest and service fees will not restore available credit.
- 6.2.3 Full Settlement: After a drawdown is fully settled, the entire credit amount corresponding to that drawdown is restored.
6.3 Repayment Reminders
- 6.3.1 We will send repayment reminders to you via SMS, in-app push notifications, and email before the repayment date.
- 6.3.2 Please ensure that the contact information you have provided on the Platform is valid so that you can receive reminders in a timely manner.
6.4 Default Management
For overdue drawdowns, we will take progressively escalated measures based on the severity of the default:
- 6.4.1 Early Default (1 to 15 days): Repayment reminders via automated voice calls, SMS, and in-app notifications.
- 6.4.2 Mid-Term Default (16 to 60 days): Telephone communication by the collections team to negotiate a repayment plan. All collection activities strictly comply with the RBI's Fair Practices Code and Lender Responsibility Guidelines.
- 6.4.3 Serious Default (over 60 days): Your available credit may be frozen or your total credit line may be reduced, and third-party collection agencies may be engaged for collections.
- 6.4.4 Credit Reporting: Default information will be reported to Credit Information Companies in accordance with applicable regulations.
- 6.4.5 Legal Recourse: For prolonged serious defaults where negotiation proves ineffective, we reserve the right to initiate legal proceedings in accordance with the law.
7. Protection of User Rights
7.1 Right to Information and Key Fact Statement
In accordance with relevant RBI requirements, you are entitled to the following information rights:
- 7.1.1 You have the right to receive a standardized Key Fact Statement prior to the execution of the credit line usage agreement.
- 7.1.2 Such statement must be provided in a language you understand and must contain the annualized interest rate, repayment schedule, and all fee details.
- 7.1.3 Any fees not listed in the Key Fact Statement shall not be charged to you during the drawdown period.
7.2 Right to Evaluation Period
In accordance with the RBI Digital Lending Guidelines:
- 7.2.1 For transactions with a drawdown tenure of 7 days or more, you are entitled to an evaluation period of at least 3 working days.
- 7.2.2 For transactions with a drawdown tenure of less than 7 days, you are entitled to an evaluation period of at least 1 working day.
- 7.2.3 During the evaluation period, you may fully review the credit line usage terms before making a decision.
7.3 Right to Privacy Protection
- 7.3.1 Your personal information is protected under the Digital Personal Data Protection Act, 2023.
- 7.3.2 The collection and processing of personal data is based on your prior explicit consent.
- 7.3.3 You have the right to refuse consent, restrict disclosure to third parties, withdraw consent, and request deletion of data.
7.4 Right to Fair Treatment
- 7.4.1 Credit line granting and drawdown approval decisions are based on objective and fair risk assessment standards.
- 7.4.2 No discrimination shall be made on grounds of race, religion, gender, caste, or region.
- 7.4.3 If you disagree with a decision, you may file a grievance through formal complaint channels.
- 7.4.4 You have the right to receive timely and professional customer service support.
7.5 Right to Grievance Redressal
- 7.5.1 We have a dedicated grievance redressal mechanism to handle your complaints.
- 7.5.2 If you are not satisfied with the resolution, you have the right to lodge a complaint with the Reserve Bank of India (RBI) or the Data Protection Board.
8. Risk Disclosure
8.1 Financial Risks
- 8.1.1 Using a revolving credit line will increase your monthly financial obligations and may affect other regular expenses.
- 8.1.2 Situations such as reduced income or unemployment may affect your ability to repay on time.
- 8.1.3 Default will cause additional fees to accumulate rapidly, increasing the repayment burden.
- 8.1.4 With a fixed interest rate, you may not benefit from rate reductions when overall interest rates decline.
8.2 Credit Risks
- 8.2.1 Any overdue or default records will be reported to credit reference agencies.
- 8.2.2 Negative credit information may remain on your credit report for an extended period.
- 8.2.3 Impaired credit scores will affect your ability to obtain loans, credit cards, and other financial services in the future.
- 8.2.4 Adverse records may lead to higher interest rates or reduced credit lines for future credit granting.
8.3 Operational Risks
- 8.3.1 System maintenance, network interruptions, or payment gateway failures may affect your ability to make timely repayments.
- 8.3.2 Bank processing delays may result in repayments not being credited in time, and you bear the responsibility for such consequences.
- 8.3.3 You are responsible for properly safeguarding your account information to prevent risks arising from disclosure.
- 8.3.4 Changes in regulatory policies may affect existing credit line usage terms.
9. Regulatory Compliance and Grievance Mechanisms
9.1 Regulatory Framework
Our revolving credit line services are governed by the following regulations:
- 9.1.1 RBI Digital Lending Guidelines (2025), covering digital lending-related requirements, borrower protection, and data privacy provisions.
- 9.1.2 RBI Key Fact Statement for Loans and Advances Circular (April 15, 2024), requiring all retail and MSME credit products to provide a standardized Key Fact Statement prior to the execution of the agreement.
- 9.1.3 RBI Non-Banking Financial Company – Credit Information Reporting Guidelines (2025), requiring reporting of credit information to all registered Credit Information Companies.
- 9.1.4 Digital Personal Data Protection Act, 2023 and the Digital Personal Data Protection Rules, 2025, requiring that the collection and processing of personal data be based on the user's prior explicit consent.
9.2 Complaint Channels
Complaint handling is divided into the following tiers:
- 9.2.1 Tier 1 – Customer Service Intake: Submit complaints through the "Help & Support" feature in the application or by sending an email to [email protected].
- 9.2.2 Response Time: General inquiries are replied to within 24 hours; formal complaints are acknowledged within 3 working days.
- 9.2.3 Tier 2 – Escalation: If not satisfied with the initial resolution, you may request escalation to a complaint handling specialist or senior management.
- 9.2.4 Complaints to the RBI: If you remain dissatisfied with the grievance resolution, you have the right to lodge a complaint with the Reserve Bank of India.
9.3 Dispute Resolution
If internal complaints are not resolved, you may take the following further measures:
- 9.3.1 Negotiation First: Parties are encouraged to resolve disputes through friendly negotiations.
- 9.3.2 Arbitration: Submit to arbitration in accordance with the Indian Arbitration and Conciliation Act, 1996.
- 9.3.3 Litigation: Proceedings may be initiated in the courts of competent jurisdiction in Delhi.
- 9.3.4 Procedural Language: All legal documents and proceedings shall be conducted in English.
10. Statements of Responsibility and Contact Information
10.1 Statements of Responsibility
- 10.1.1 Service Responsibility: As the direct provider of the revolving credit line service, we assume full responsibility for credit assessment, credit line management, fund disbursement, and risk management.
- 10.1.2 Accuracy of Information: We strive to ensure the accuracy of information but do not assume legal liability for any unintentional errors.
- 10.1.3 Right to Amend: We reserve the right to modify product terms, with material changes to be communicated to you in advance through App notifications or email.
10.2 Contact Us
If you have any questions about this Disclosure Document, the credit line product, or your account, please feel free to contact us through the following means:
- 10.2.1 Company Name: Grapeinfo Technology Private Limited
- 10.2.2 Application Name: GrapLoan
- 10.2.3 Customer Support Email: [email protected]
- 10.2.4 Official Website: https://grapeinfotechnology.com/
- 10.2.5 Office Address: 3-D/282 AWASH VIKASH HANSPURAM URBAN Kanpur, 208021 IN