Handset maker Xiaomi today said it has launched Mi Credit, using which its users can apply for loans.
"Mi Credit is currently available in partnership with KreditBee, an instant personal loan platform for young professionals. Currently, Mi Credit is available only for MIUI users (except Mi A1) where KreditBee is offering loans from Rs 1,000 up to Rs 1 lakh," Xiaomi said in a statement.
The loan process can be initiated in less than 10 minutes with KYC verification, it added.
"MIUI functions as an open platform for us to deliver our wide range of internet services, such as content, entertainment, financial services and productivity tools. Mi Credit is another big step in bringing an important internet service to India," Xiaomi Vice President and India Managing Director Manu Jain said.
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