Monethics Faqs

Frequently Asked Questions

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We are a company which help our customers in meeting their funding requirements with a lot of focus on ethics which is aptly reflected in our name as well = Money + Ethics.
  • Quick loan from ₹2,500 to ₹2,00,000 for a period of 2 months to 6 months.( flexible tenure).
  • Less documentation required.
  • Once loan is approved, amount canbe availed immediately and will be transferred in your respective bank account.
  • User friendly, Self-explanatory, Easy personal loan, Quick money transfer after the documentation work and transparent in all our transactions.
Monethics helps individuals avail Personal loan. Applying for Personal Loan through the Monethics Platform is simple, quick and easy. Just follow the below steps:
  1. Install Monethics App from Play Store.
  2. Register yourself via login page with OTP.
  3. Fill in your basic details, Employer details, uploaded the KYC documents, Bank statement, Selfie and the other additional information.
  4. After which your profile and documents will be verified.
  5. On verification, if you meet our eligibility criteria then loan amount shall be sanctioned to you. On acceptance of our offer the amount will be disbursed to your account by our partnered NBFC.
  • Salaried Individual with minimum monthly take home salary of ₹10,000.
  • Indian citizen above 18 years of age.
  • Loan to be applied through APP only.
  • Employee of an Entity registered with us.
  • No, Monethics is available to only Indian citizens holding an Indian Identity and Address Proof (Aadhaar Card, Passport, Voter ID, Driving license) and Indian PAN Card.
  • Yes, it is mandatory for you to be in employment of organisation which has tied up with us.
  • You may please send us their details on the our app or send us an email on with details like – Name, complete address, HR email id, and landline number. Our team will reach out to them and get them registered with us. Then you may apply for loan.
  • A customer can borrow an amount ranging from ₹2,500 to ₹2,00,000 depending upon his eligibility. However, your first loan is restricted to 50% of net salary credited to you bank account.
  • No. Monethics is a technology service provider. The loan application will be considered by NBFC - Venus Portfolio & Finance Private Limited (Venus). The decision of Venus shall be final.
  • You can read our T&C HERE
  • You can read our Privacy Policy HERE
  • The amount will be transferred to your bank account and then you can use your regular ATM card to withdraw funds and use them as you wish or NEFT/IMPS to someone depending on your needs. The funds are yours.
  • Yes. Money can be used to meet any of your personal use. Our customers typically use Monethics for the following reasons:
    Purchase of Two-wheeler or Car.
    Home renovation.
    House rent deposits.
    Children’s school fees.
    Medical emergencies.
    And for any other needful purposes.
  • From 2 to 4 business working hours after submission of the relevant information and documents.
  • There is no requirement of specific location, Monethics is the digitally platform and it is available across all cities located in India.
  • Once by uploading these documents, you will get yourself loan approved by Monethics
    1. PAN card.
    2. Aadhar Card.
    3. Permanent Address Proof - Any one (1): Passport / Driving License / Voter’s Identity Card.
    4. Latest 6 months statement of your Bank Account, showing your salary credit.
    5. Selfie.
  • No, once all your documents are verified and your credit is approved, you can now rest assure for next 180 Days without resubmitting all your documents.
  • However we would need your lastest 6 months bank statement everytime you apply for loan to determine your eligibility.
  • Also we would like you to notify us if any changes are there in your employment, salary or residence. Once you register, you are eligible to borrow loans as many times required.
  • No, Monethics is a Mobile App, hence it cannot work without a smartphone
For e-signing the Loan Agreement, UIDAI will send you an OTP on this number. Thus the link between your mobile number and Aadhar is required. You can check whether you aadhar is linked with mobile here
  • Currently there is no other option. However linking of Mobile with aadhar is an easy way. In case your mobile number is not registered with your Aadhaar, visit the nearest Permanent Aadhaar Centre(PAC).
  • Since the signing of Loan Agreement makes it a legal binding agreement which specifies that once the loan is disbursed to you, you are liable to pay the entire amount with interest and other charges if applicable.
  • Credit Score is a numerical expression of your credit worthiness and repayment capacities. It is based on your past behaviour with bank or NBFC from whom you may have availed any credit.
  • In India, there are 4 well known Credit Information Companies that track the Credit Score of an individual. They are Experian, CIBIL, CRIF and Equifax. They are entities regulated by law and have all the loan and repayment information of an individual, be it a credit card use, a bank loan, or a telecom post paid connection.
  • All the Monethics partnered NBFCs and Banks have collaborated with the four Credit Information Companies, and they send the repayment history of all Monethics customers after each quarter to these companies.
  • Your credit limit is decided based on the authenticity of your documents as well as your previous repayment history which can be tracked via your KYC documents.
  • Processing fees charged by Monethics are as follows:-
    Sr. No.Loan AmountProcessing Fees
    1. 2,500 to 5,000600
    2. 5,001 to 20,000800
    3. 20,001 to 40,0001,000
    4. Above 40,0002.5% or 3,000 whichever is lower
  • GST @18% will be charged additionally over the processing fees.
  • There will be a processing fee on subsequent loans to cover fresh checks and new transaction costs.
  • Our interest rates are ranging from 1.25% to 3% per month depending upon the credit profile.
  • We will Auto Debit your account on your loan EMI due date. If sufficient balance is not maintained in your bank account and Auto Debit fails, then your Bank may levy a penalty for which Monethics will not be liable. This may vary from Bank to Bank.
  • In case of default, grace period of 7 days will be allowed. A penalty of ₹500 will be levied after 7 grace days. Also, penal interest @3% per month will also be charged from the due date on the amount defaulted.
  • Further, In case borrower do not repay full amount including interest within stipulated time including extended period it will be classified as defaulter. His Employer will be informed about the default and will be asked to deduct EMI from his salary and only balance salary, if any, will be paid to employee.
  • No. All our charges are transparent and communicated to the user upfront.
  • Pre EMI interest is charged for the period from the date loan is taken till the EMI computation begins.
  • For example, if loan is taken on 20 Jan 2021 and first EMI falls on 3rd March 2021. Then first EMI on 3rd March include interest from 4th Feb till 3rd March. The interest for period 21st Jan till 3rd Feb is call as Pre EMI interest.
  • The Principal loan amount will be deducted by Processing Fees, GST on processing fees and Pre EMI interest.
    ParticularsAmount in Rs.
    Principal AmountXXXX
    Less: Processing Fees(XXXX)
    Less: GST on processing Fees(XXXX)
    Less: Pre-EMI Interest Amount(XXXX)
    Disbursal AmountXXXX
  • The loan is disbursed directly to your bank account, which is provided by you during the registration process.
  • As it is a personal loan and the amount is transferred directly into your bank account, you can use it for any personal reason anywhere.
  • You can take only 1 loan at a time. Repay your current loan (if any) to take your next loan.
  • There could be many reasons including but not limited to poor credit score, illegible documents information mismatch. Whatever the case may be, we will let you know in case your application could not be approved.
  • We accept loan through NEFT only. Enter your account number correctly and choose correct account name
  • Please also verify the IFSC Code i.e Kindly make sure all the details entered by you are correct and if any further assistance require kindly mail us.
  • Yes, definitely. There are not charges for early repayment.
  • Penalty charges will be applied for everyday that the loan is overdue.
  • We do not pursue any malpractices or coercive practices for recovery of loan. However, your Credit score will be updated as a defaulter which will make it difficult for you to take loans with any bank or financial institution in the future.
  • Companies also check an individual's credit score and may not offer you employment if your credit score is bad.
  • eMandate is an auto payment instruction from you that authorizes us to collect your EMI payments directly from your salaried account. Don’t worry, we only collect the payment due on the due date, and nothing more.
  • Registering for the eMandate helps you repay loans with 0 clicks, protect your bureau score and even increase your chance to get limit enhancements from us.
  • For loan related grievances, kindly visit Grievance redressal of Venus portfolio & Finance Private limited here.
  • For app related grievances, kindly write email to
  • You can contact us by writing email on
  • You can visit our website for further inquiry.
  • Once a loan is approved and disbursed, it cannot be cancelled. Hence, you would need to repay the amount in full to close the loan.
  • You need to reinstall the Monethics App on your new phone from the same SIM card.
  • As of now, we support only Android OS.
  • You can request us to block / deactivate your Monethics account by dropping a request to us at Your request would be processed ONLY if there are no outstanding dues against your account. Therefore, please ensure that you have repaid all your loans on Monethics before requesting us to deactivate your account. We would still retain your login and device identity to ensure that nobody else is able to create a new account with your credentials
  • Monethics uses the following permissions to access the user's eligibility and facilitate faster loan disbursal of the loan(s)
    Camera: We use the camera to enable you to take images of the KYC documents like Selfie, Payslip, PAN card etc.
    Photos/media/files: We access your image gallery to enable you to upload KYC documents.
    Location: Location information is captured at the time of login and is a useful parameter to determine the last location.
  • Work is super exciting and challenging at Monethics. We believe in empowering our employees and giving them complete ownership and resources to charter their and Monethics’s growth.
    We are always looking for great talent. Send your resume and a short note on your ideal role to