comscore Xiaomi Mi Credit launched in India: Everything you need to know
News

Xiaomi Mi Credit launched in India: Everything you need to know

Xiaomi says its Mi Credit digital lending platform will help offer personal loans within 5 minutes. Here's everything you need to know.

  • Published: December 3, 2019 3:41 PM IST
Xiaomi Mi Credit

Xiaomi Mi Credit has been launched in India today. After running a pilot, the brand has unveiled its Mi Credit service for personal loans. Xiaomi says its Mi Credit digital lending platform will help offer personal loans within 5 minutes. One will be able to complete the process of getting the loans in the mentioned time, as per the company. Also Read - Xiaomi Redmi Note 8, Redmi Note 8 Pro global sales surpass 10 million units in three months

Xiaomi says the entire process of KYC, repaying via e-mandates and disbursal of the money will be done digitally. Note that Xiaomi isn’t offering the loan, but is simply linking the user to a service that will offer the loan. It also offers real-time disbursements and it supports all major banks. The Chinese smartphone maker has partnered with Aditya Birla Finance Limited, Money View, EarlySalary, CreditVidya, and ZestMoney. Also Read - Xiaomi Mi Watch gets iOS support with the latest software update

Watch: How to remove ads from any Xiaomi smartphone

One can get loans of up to Rs 100,000 lakh, and choose the amount and the tenure of the loan once you get approval. Xiaomi’s Mi CRedit service is also offering “a high success rate and low-interest rate.” The service also supports a credit score rating, which is based on how fast users repay their loans with interest. Also Read - Xiaomi launch: Latest product is a flashlight, lamp and power bank in one

Interested users can download the Mi Credit app via Google Play Store. As far the privacy is concerned, Xioami says it has a data protection agreement with all its lenders. The brand also said that the data is stored in an encrypted format in Indian data centers, PhoneArena reports.

Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India 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 important internet service to India and we trust that our users would be able to truly benefit as the service becomes more sophisticated,” he said.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel.
  • Published Date: December 3, 2019 3:41 PM IST



new arrivals in india

Samsung Galaxy M51
Samsung Galaxy M51

24,999

Poco M2
Poco M2

10,999

Oppo F17 Pro
Oppo F17 Pro

22,990

Realme 7 Pro
Realme 7 Pro

19,999

Realme 7
Realme 7

14,999

Xiaomi Redmi 9A
Xiaomi Redmi 9A

6,799

Vivo Y20
Vivo Y20

12,990

Xiaomi Redmi 9
Xiaomi Redmi 9

8,999

Nokia 5.3
Nokia 5.3

13,999

Motorola Moto G9
Motorola Moto G9

11,499

Realme C15
Realme C15

9,999

Realme C12
Realme C12

8,999

Samsung Galaxy Note 20
Samsung Galaxy Note 20

77,999

Xiaomi Redmi 9 Prime
Xiaomi Redmi 9 Prime

9,999

Oppo Reno4 Pro
Oppo Reno4 Pro

34,990

Samsung Galaxy M01 Core
Samsung Galaxy M01 Core

5,499

Realme 6i
Realme 6i

12,999

Asus Rog Phone 3
Asus Rog Phone 3

49,999

OnePlus Nord
OnePlus Nord

24,999

Infinix Smart 4 Plus
Infinix Smart 4 Plus

7,999

Xiaomi Redmi Note 9
Xiaomi Redmi Note 9

11,999

Samsung Galaxy M01s
Samsung Galaxy M01s

9,999

Vivo X50 Pro 5G
Vivo X50 Pro 5G

49,990

Vivo X50 5G
Vivo X50 5G

34,990

Realme C11
Realme C11

7,499

Poco M2 Pro
Poco M2 Pro

13,999

Realme X3
Realme X3

24,999

Realme X3 SuperZoom
Realme X3 SuperZoom

27,999

Tecno Spark Power 2
Tecno Spark Power 2

9,999

Oppo A12
Oppo A12

9,990

Oppo A52
Oppo A52

16,990

Samsung Galaxy A21s
Samsung Galaxy A21s

15,999

Oppo Find X2
Oppo Find X2

64,990

Motorola One Fusion Plus
Motorola One Fusion Plus

17,499

Samsung Galaxy A31
Samsung Galaxy A31

20,999

Samsung Galaxy M01
Samsung Galaxy M01

8,999

Samsung Galaxy M11
Samsung Galaxy M11

10,999

Infinix Hot 9 Pro
Infinix Hot 9 Pro

9,999

LG Velvet
LG Velvet

Price Not Available

Xiaomi Mi Note 10 Lite
Xiaomi Mi Note 10 Lite

Price Not Available

Apple iPhone SE 2020
Apple iPhone SE 2020

42,500

Honor 30 Pro
Honor 30 Pro

Price Not Available

Honor 30
Honor 30

Price Not Available

OnePlus 8
OnePlus 8

44,999

OnePlus 8 Pro
OnePlus 8 Pro

54,999

Xiaomi Redmi Note 9 Pro
Xiaomi Redmi Note 9 Pro

13,999

Motorola Moto E4
Motorola Moto E4

8,999

Samsung Galaxy On Max
Samsung Galaxy On Max

9,775

nubia N2
nubia N2

15,999

Karbonn K9 Kavach 4G
Karbonn K9 Kavach 4G

5,290

Motorola Moto C Plus
Motorola Moto C Plus

6,999

Best Sellers