Xiaomi’s Mi Credit Has Disbursed Loans Worth Rs 125 Crore+ in India

Jan. 10, 2020

Xiaomi’s current lending partners are primarily non-bank financial institution (NBFCs) or fintechs such as Aditya Birla Finance Limited, Money View, EarlySalary, Zestmoney and CreditVidya. This is Xiaomi’s second Mi Finance solution after Mi Pay in the country. Mi Fans can check their credit score instantly on the app for free.

This is how it works. Mi Credit provides an easy application process for securing loans, with an intuitive interface. First-time users can complete the digital application form within five minutes, and repeat customers can avail a loan with one click disbursement. Once the loan is approved, the consumer has the option to choose the amount and the tenure of the loan.

Xiaomi’s Mi Finance business started four years ago in China. Today, the company has over 300 million Mi Fans in its global community.

You candownload the Mi Credit appfrom free from the Google Play Store.

Featured image Courtesy: Xiaomi