Chinese smartphone maker Xiaomi today announced its financial lending service dubbed as Mi Credit service in India in partnership with KreditBee, offering an instant credit of up to Rs. 1,00,000 to MIUI users.
MIUI users will be able to get an instant loan starting from Rs. 1,000 to up to Rs. 1,00,000. The lending service from Xiaomi is aimed at young professionals in the country. The company has said that the platform will work as a platform to initiate financial lending for professionals.
Currently, only MIUI users will be able to use the Mi Credit service and it is expected that other users will be able to use this service in the coming days. Users will be able to get a loan within 10 minutes, by either providing their Aadhaar card or their PAN card.
How to get Instant loan on Mi Credit
- Go to the Mi Credit page.
- Read the terms mentioned –
- Interest rate – 3% per month
- Loan Tenure – 15 days – 90 days
- Loan time – 10 minutes
- Repayment medium – KreditBee App via Payment Gateway
- Accept the terms and conditions.
- Click on ‘Get loan now’.
Commenting on Mi Credit, Manu Kumar Jain, Vice President and Managing Director said,
“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, such as content, entertainment, financial services and productivity tools. 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.”