Xiaomi Launches Mi Credit A Personal Loan Platform For MIUI Users
Xiaomi has ventured into a new avenue, away from smartphones and other consumer electronics. The company has announced the launch of Mi Credit in India, a new service that acts as a platform for users to initiate financial lendings. The company has listed financial loan providers on Mi Credit and users can log onto the platform to apply for quick loans.
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Xiaomi has announced that Mi Credit is, as of now, available in partnership with KreditBee, an instant personal loan platform for young professionals. The service is only available for MIUI users, which means the Mi A1 users will miss out on it. KreditBee is providing loans from Rs 1000 up to Rs 1,00,000. The company claims that the loan can be initiated within 10 minutes with a simple KYC verification. All verification and user information input is done on partner platforms, with Mi Credit currently only listing all agents.
Manu Jain, VP of Xiaomi, and MD 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.
This is Xiaomi’s third value-added Internet service in India. The company recently launched Mi Music and Mi Video as well. Mi Music similar to other music streaming services like Gaana, Amazon Prime Music and more. It has an interesting Dynamic Lyrics feature wherein the app will highlight the lyrics of the song that’s currently being sung. With Mi Video, users get streaming services like SonyLIV, Hungama Play, Voot, AltBalaji, Zee5, Viu, TVF and more in a single app.