Xiaomi has announced Mi Credit service for Xiaomi users in India. This service offers loan from Rs. 1000 to Rs. 100000 at low interest.
Xiaomi Mi Credit has been launched in partnership with KreditBee. It claims that loan will be approved in less than 10 minutes with simple KYC verification. For getting loan, PAN card and Aadhaar is required.
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If you are interested, you can apply for the loan. They charge 3% monthly interest and you can take loan from 15 days to 90 days. Loan will be credited directly on your bank account.
The company confirms that all verification and user information input is done on partner platform. It only just all agents. So, Xiaomi is not providing loan but making it easier for users to get loan.