Mi Credit offers instant personal loan of up to 1,00,000 Rs
Chinese smartphone manufacturer Xiaomi has just launched instant personal loan service in India called Mi Credit. This service comes in the market after a partnership with an instant personal loan platform called KreditBee.
Mi Credit is available only for MIUI users where KreditBee is offering loans starting from 1000 Rs up to 1,00,000 Rs. This instant personal loan can be initiated in less than 10 minutes with a simple KYC verification such as Aadhaar card and PAN card. All verification and user information input is done on partner platforms. You can check out more details on the official website.
Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India said in the statement:
The connectivity between our devices and the seamless integration between hardware and internet services enable us to provide our users with the 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.
The company’s major push towards lending appears to be aimed at boosting sales of its products through its own platform. After having already soared in terms of the overall market share in India. Xiaomi could be planning to replicate in terms of online sale of smartphones as well.