Importance of transparency while deciding the lender

We all use the term ‘Transparency’ in our professional as well as personal lives. If we want to clear the misunderstandings, we have to pour our thought process in front of the other person. Being transparent helps in solving multiple issues and avoids creating new problems. Similarly, when it’s about finance, transparency plays a pivotal role because it’s not just about money but also about trust and reputation.

For example, when we invest in gold, we all are aware that the return value would be the current market rate excluding the making charge. Another example could be of the funds that we invest for better returns. But, if we read the terms and conditions, they always clearly mention the market risks we could face in the future to keep us well updated. They keep the transparency to safeguard themselves from bigger issues.

Just like that, online lenders also should have clear terms and conditions when it comes to offering loans to the borrowers. Transparency is not only about the terms but also about the companys’ financial record. Hiding the debts of your company can sooner lead to nasty surprises. Apart from this, the lender needs to be transparent with interest rates, due period, processing fees, and other perspectives that are with regards to the loan. The moment a hidden fee is shown to the borrower, they are taken aback and lose trust. While we all know that word of mouth works well, other borrowers would also avoid approaching such lenders who have cheated once.


Why is Transparency so important?

Since financial investigations are a part and parcel in our industry, we at Monethics prefer transparency in order to avoid crisis. Also, we prefer to stay loyal with our borrowers to avoid hindrances while putting forth a helping hand. Why complicate the numbers while they are already so complicated ?

Our transparency is built on four different perspectives which include being ethical, keeping it smooth, being fair with all and telling things upfront.


1) Being Ethical

We at Monethics, are firm believers of ethics. The moment someone thinks unethical in our team, we explain to them how ethics are so important for us. Similarly, when it's about borrowers, we have to be honest to them. How can we be unfair with the one who gives us business? We don’t believe in showing higher rates first and then trap ourselves in the bargain game. Rather, we do assure our borrowers with a loan rate even before they apply for a loan and stay to our words.

2) Telling things upfront

Many borrowers approach us with a hope that their financial problems would be settled out. However, there are many who cannot afford the loan interest rate and in the current situation, we believe in first having an online meet. We avoid offering loans to the borrower if we think that the borrowers won’t be able to repay the loan on-time. We let them know before they could apply for a loan with a soft check so their credit score stays unaffected.

3) Keeping it Smooth

We keep it smooth with clear talks, terms and conditions. To whomsoever it may concern, our interest rates, processing fees, late fees and every aspect is cleared with the borrower even before he applies for a loan.

4) Being Fair with All

Many businesses look for profits in another borrower if they fail to earn in one. While that’s strictly against our ethics, we charge an interest rate to our borrowers whatever is required as per the credit score and loan amount. Nothing is too less and nothing is too much with Monethics.


After studying about our transparency, if you are keen to apply for any short-term loan, then we can quickly answer all your queries on a digital platform. Because with us, you have “Paisa bhi, Sukoon bhi”.