Xiaomi has launched Mi Credit in India in partnership with KreditBee. The Mi Credit is an instant personal loan platform to enable young professionals to apply for personal loans. According to Xiaomi, the Mi Credit is basically a platform to enable its users to initiate financial lending. You will find a list of all the financial loan providers on Mi Credit and will be able to apply for quick loans via the platform.
Available exclusively for MIUI users, the Mi Credit platform provides loans from Rs 1000 up to Rs 100,000. The platform is designed in such a way to provide personal loans without any major effort. The loan process can be initiated in less than 10 minutes with a simple KYC verification.
Xiaomi revealed that all verification and other data entry work is carried out on partner platforms. The purpose of the credit mobile app is only to list the names of the agents and providers. The app won’t be available for stock Android smartphones such as Xiaomi Mi A1.
Commenting on the development, Manu Jain, Managing Director, Xiaomi India revealed that the connectivity between the devices coupled with the integration of Android apps provides users with a wonderful user experience. Mi Credit is a big milestone in a bid to fulfill the aspirations of Digital India. Going forward, the ap will be refreshed with more features and users would be able to avail benefit from it.
To recall, the Lei Jun-owned company had launched Mi Music and Mi Video. The introduction of Credit app is a big leap in a bid to achieve paperless loan approvals.
