In an attempt to widen its forte in the Indian scenario, Xiaomi has launched a new service – Mi Credit Service. The service, which is meant for providing suitable financial loan for customers, will disperse loans in a quick manner. Made in partnership with KreditBee, the service however is limited to MIUI users only, which leaves out Mi A1 users. The Mi Credit Service will help users fetch loan amount, starting INR 1,000 to INR 1,00,000.
However, users would have to undergo a KYC process, while the loan would be distributed based on the PAN and Aadhaar card. Mi Credit will also list out all the agents, who could distribute the loan, while the KYC verification would be done on the platform of KreditBee.