Xiaomi Launches Mi Credit in India: The Instant Personal Loan Service

No doubt, in India Xiaomi is now on the top for best mid-range smartphones. But looks like Xiaomi is also a little bit interested in value-added services. After Mi Music and Mi Video, Xiaomi has launched its third value-added service in India names – Mi Credit. Xiaomi is billing it as ‘Instant personal loan platform for young professionals’.

This new Xiaomi’s value-added service, Mi Credit will allow users to apply for the quick loans. According to the report, Xiaomi has made this new Mi Credit service live in India in partnership with KreditBee which is an instant personal loan platform for young professionals, where they can apply for a salary advance starting from ₹1,000 up to ₹ 1 Lac as per their requirement.

As the company claims, whenever user will apply for the quick loans via Mi Credit, the loan will be initiated within 10 minutes. Only the thing need is KYC verification which requires user’s PAN Card and Aadhaar Card information. Mi Credit website has only listed the name of the agents. But, all the verification and user information fill up process will be done on the partner platforms. You can read all other details on the Mi Credit official website by accepting their terms and conditions.

The new Xiaomi’s Mi Credit platform released in India, however, only available for the MIUI users. Even users who are using Xiaomi Mi A1 comes with the Stock Android, will not be able to take benefit of this new service.

Managing Director of Xiaomi India, Mr. Manu Jain said, “The connectivity between our devices and the seamless integration between hardware and internet services enable us to provide our users with the better user experience. Mi Credit is another big step in bringing an important internet service to India and we trust that our users would be able to truly benefit as the service becomes more sophisticated.”

Let us know what do you think about this new Xiaomi service.