Xiaomi Mi Credit personal loan service launched in India

Xiaomi has announced yet another value-added service for the Indian MIUI users.

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Xiaomi has gone to the next step by launching the Mi Credit service in India. This is an instant personal loan platform for young professionals. The company says that the Mi Credit service can act as a platform for its consumers to initiate financial lending. Users seeing financial assistance can log on to the platform to apply for quick loans from the listed financial loan providers.

 
Xiaomi Mi Credit personal loan service launched in India

The Xiaomi Mi Credit service has been announced in partnership with KreditBee, an instant personal loan platform. This is the third value-added internet service that the company has launched for its users. Earlier this month, the Chinese company launched the Mi Music and Mi Video services.

 

How does Mi Credit work

Xiaomi Mi Credit platform is only meant for the MIUI users. The company has teamed up with KreditBee to offer loans from Rs. 1,000 to Rs. 1,00,000. It is aimed to make it convenient for young professionals to get personal loans easily. The loan can be initiated in less than 10 minutes with a KYC verification process. All the user information input and verification will be done on partner platforms. The Mi Credit website will only list the names of the agents.

As only MIUI users are eligible to get loans via this service, the users of Mi A1 running stock Android cannot enjoy the benefits.

Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India said, "The connectivity between our devices and the seamless integration between hardware and internet services enable us to provide our users with 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."

Notably, this value-added service is aimed at boosting the sales of the Xiaomi products via its own platform. Already, the company has reached great heights of popularity and market share in India in just a few years of debuting its operations. With the Xiaomi loan service, the company appears to be in plans to grow further by benefiting the users.

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What do you think of this service? If you are an MIUI user, then are you ready to take loans with this Mi Credit platform? Do let us know what's in your mind about this service via comments.

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