Xiaomi, in partnership with Money View, has launched Mi Credit in India.
Through this partnership, Xiaomi seeks to provide responsible credit access to Indians.
This service will let Xiaomi users aged 18 and above get a loan online, ranging from Rs 1,000 to 100,000. Users can later repay the loan in instalments with interest that will be decided basis the plan that users opt for. Eligibility will be notified during the process of application and there will be real-time disbursement of funds. The entire process will be online.
Commenting on the development, Puneet Agarwal, co-founder, Money View said, “Xiaomi India brings along an unmatched understanding of the Indian mobile ecosystem and we are delighted to have partnered with them for the Mi Credit app. With Money View’s the expertise of providing easy credit access to the traditionally underserved consumers and Xiaomi India’s distribution, we are looking forward to creating an accelerated impact towards a more financially inclusive India.”