Xiaomi Launches “Instant Personal Loan Platform” Mi Credit In India

Chinese smartphone maker Xiaomi has launched its Mi Credit app in India. According to the company, it is an “instant personal loan platform for young professionals.” It will act as a platform for lending money to users.

Xiaomi Launches "Instant Personal Loan Platform" Mi Credit In India

Vice-President of Xiaomi India, Manu Jain said, “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.”

Mi Credit

The app’s financial loan providers have been mentioned by the company. Moreover, users will have to log in for applying for quick loans.

The platform is a tie-up with KreditBee. It is an instant personal loan platform. It has become Xiaomi’s third value-added internet service. The other two are Mi Music and Mi Video. Moreover, they were also recently revealed in May 2018.

The app is available only for MIUI users. Loans ranging from Rs. 1,000 to Rs. 1,00,000 will be provided by KreditBee. Moreover, the loan will be provided within 10 minutes after a simple KYC authentication. It will be done on partner platforms. Moreover, the application won’t be available for stock Android phones like Xiaomi Mi A1.

Other Xiaomi Developments

Xiaomi has revealed that along with its flagship Mi 8, it will also launch MIUI 10 during its scheduled 31st May 2018 event. Information regarding MIUI 10 was revealed in January 2018. Moreover, this new MIUI version focuses more on AI and machine learning. MIUI 10 will replace MIUI 9. MIUI 9 was launched in July 2017. It came to India through MIUI Global ROM in November 2017. Xiaomi has already stopped the MIUI 9 development. Moreover, the company hasn’t yet stated which smartphone will be equipped with MIUI 10. But the Mi 8 is expected to have it.

MIUI 10 has had a teaser image posted on the official MIUI Weibo account recently. It is expected to be very fast. MIUI 9 was revealed with a tagline that it was “as fast as lightning.” MIUI 10 is predicted to have many performance enhancements. It is expected to deliver a better experience. Moreover, the company has already stated that MIUI 10 won’t be compatible with Android 5.0 Lolipop. It is predicted to be packed with new themes and an enhanced Settings app. Moreover, the AI within it and on the Camera app will also make the MIUI an advanced custom ROM for Android users.

The next MIUI is speculated to have new battery-saving features. Moreover, it is being speculated that the Company will launch its AI-backed Xiao Ai assistant globally.

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Xiaomi Launches "Instant Personal Loan Platform" Mi Credit In India
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Xiaomi Launches "Instant Personal Loan Platform" Mi Credit In India
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Chinese smartphone maker Xiaomi has launched its Mi Credit app in India. According to the company, it is an "instant personal loan platform for young professionals." It will act as a platform for lending money to users.
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