After having successfully announced the launch of Mi Music and Mi Video in May 2018, Xiaomi is now offering Personal loan with Mi Credit. Mi Credit is expected to be a potential tool to deal with cash crunch that the young professionals find themselves in before the end of the month.
Xiaomi has launched Instant Personal loan service known as ‘Mi Credit’ in collaboration with KreditBee. The loan amount can be availed in just 10 minutes with a simple KYC verification. The service is extended only to MIUI users which means that any Mi and Redmi series phone owners can apply for a personal loan offered by KreditBee ranging from Rs. 1000 to Rs. 1,00,000. (KreditBee is an instant salary advance platform for young professionals where they can avail upto Rs. 1,00,000)
Xiaomi has enlisted financial loan providers on its ‘Mi Credit’ platform and the users can log on to the platform to apply for an instant personal loan.
With this launch, Xiaomi seeks to multiply the online sale of Xiaomi smartphones by providing credit services.
(Xiaomi provides internet services to give users a complete mobile internet experience, and MIUI functions as an open platform to deliver a wide range of internet services such as content, entertainment, financial services and productivity tool).