Xiaomi Mi Credit app debuts with Rs 1 lakh lending limit on personal loans



Expanding its financial services portfolio, Chinese electronics maker Xiaomi on Tuesday announced the Mi Credit – an app-based credit lending service with a limit of up to Rs 1 lakh on personal loans. Being an online marketplace for lenders, the app debuts with support from five non-banking financial companies (NBFCs) and fintech firms — Aditya Birla Finance Limited, Money View, EarlySalary, Zestmoney and CreditVidya. Apart from lending services, the company also partnered with Experian to provide credit score report free of cost on the Mi Credit app.
According to Xiaomi, the Mi Credit service is currently available in more than 10 states, covering around 1,500 pin codes, and the company aims to roll our services across all pin codes by the end of this financial year (March 2020). The Mi Credit app is now available on Google Play Store, Xiaomi app store and GetApps platform for Android smartphones. Besides, it will come preloaded on the company’s MIUI operating system-powered smartphones. Read More

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