Xiaomi To Bring Back Mi Credit Platform On December 3

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Xiaomi is going to bring back the instant loan credit platform in India. The Xiaomi Mi Credit is a platform for availing personal loans, which was launched in May last year. The platform is now redesigned and will launch on December 3. However, we still don't know the details about the new upgrades and features in the latest version.

Xiaomi To Bring Back Mi Credit Platform On December 3

 

Xiaomi Mi Credit Platform

The new Mi Credit platform began in May 2018. It is a service platform where the Xiaomi initiates instant finance for users in India. The updated platform has been uploaded on the Google Play Store and was spotted earlier this month. It is expected that Xiaomi will announce a couple of new features and upgrades with the user interface.

The Xiaomi Mi Credit is designed particularly for the younger audience in India. Young, tech-savvy professionals in the country can avail of a loan in less than 10 minutes. The user data is collected through a simple KYC verification process. The loan period is available for as minimal as 15 days to 90 days. Xiaomi adds a three percent interest every month.

Till now, the instant credit service was available only for the MIUI users. It wasn't available for stock Android phones, like the Xiaomi Mi A3 for instance. According to the Chinese tech-giant, the Mi Credit platform is for users to "initiate financial lending." In addition, Xiaomi has listed the financial loan providers on the platform. Users can log into the platform and apply for quick loans using the listed loan providers.

The credit platform adds to the list of value-added internet services in India. The company has already launched other services including Mi Music and Mi Video recently. Since it is going to be an upgrade now, one needs to wait and see what new features the platform will offer and how beneficial it'll be for the users.

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