Now, you can avail loan of up to Rs 1,00,000 in less than 10 mins – Here is how

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New Delhi | Updated: Jun 25, 2018 5:22 PM

The company is offering up to Rs 1,00,000 within 10 minutes.

Xioami offers loans from Rs 1000 up to Rs 1 lakh. (PTI)

Now, you can take a loan from Chinese tech giant Xiaomi. The Chinese company in May 2018, had launched Mi Credit in India, which is an “instant personal loan platform for young professionals.” Xiaomi launched the Mi Credit in partnership with KreditBee, an instant personal loan platform. This is Mi’s third value-added internet service after Mi Video and Mi Music. Notably, Mi Credit platform is available only for MIUI users. In collaboration with KreditBee, Xioami offers loans from Rs 1000 up to Rs 1 lakh. The interest rate for the loan is 3 per cent per month and the loan tenure is 15 to 90 days.

The smartphone manufacturer says that the loan can be initiated in less than 10 minutes with a simple KYC verification. All verification and user information input is done on partner platforms, with Mi Credit currently only listing all agents. For more details, you can visit

Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India said, “The connectivity between our devices and the seamless integration between hardware and internet services enable us to provide our users with better user experience. Mi Credit is another big step in bringing an important internet service to India and we trust that our users would be able to truly benefit as the service becomes more sophisticated.”

Meanwhile, Xiaomi on Monday launched Redmi 6 Pro in China. The smartphone is priced at CNY 999 (roughly Rs. 10,400) for the 3GB RAM, 32GB storage variant and CNY 1,199 (roughly Rs. 12,500) for the 4 GB RAM, 32GB storage variant. For its high-end variant, the price is CNY 1,299 (roughly Rs. 13,600) for the 4GB, 64GB.

Xiaomi Redmi 6 Pro supports dual SIM (Nano) and runs on Android-based MIUI 9. It boasts a 5.84-inch full-HD+ (1080×2280 pixels) display with a 84-per cent NTSC colour gamut. It is powered by an octa-core Snapdragon 625 SoC clocked up to 2GHz, coupled with the Adreno 506 GPU, and 3GB or 4GB of RAM. Talking about the camera, Redmi 6 Pro sports a dual rear camera setup, with a 12-megapixel primary sensor and 5-megapixel secondary sensor. In the front, the smartphone features a 5-megapixel camera with AI Portrait mode and HDR.

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