Xiaomi, the Chinese smartphone manufacturer has officially launched the ‘Mi Credit’ facility in India. Through Mi- Credit Facility, users will be able to "initiate financial lending in India”, the company stated.
To render ‘Mi Credit’ Facility in India, Xiaomi has partnered with KreditBee and it is a platform to provide an instant personal loan to young professionals, the company said in a statement.
Read Also: Mi Note 5 Specifications Leaked, Likely To Unveil on 31st May
Manu Jain, Vice President, Xiaomi and Managing Director, of Xiaomi India, stated in a press statement, “Xiaomi provides Internet services to give our users a complete mobile internet experience and MIUI functions as an open platform for us to deliver our wide range of Internet services like content, entertainment, financial services and productivity tools.”
Presently, only MIUI users can avail the facility of ‘Mi Credit’ in India, whereas KreditBee is providing loans ranging from Rs 1,000 to Rs 1,00,000 with an aim to provide instant loans to young professionals without any difficulties. With the help of KYC certification, the loan procedure facility can be started within 10 minutes. All activities related to the user information and verification can take place on partner platforms.-
The list of financial loan providers are available on Mi Credit Website and Xiaomi users have to log in to get quick loans. As we mentioned above that Mi Credit facility is available only for MIUI user, whereas stock Android users such as Xiaomi Mi A1 would not be able to avail this
Jain further stated that \'Mi Credit\' is a 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.”