Here’s how you can avail an instant loan from Mi Credit

After the success of its pilot programme in India, Xiaomi is back with its digital lending platform Mi Credit. Through the app, the company provides instant loans up to ₹1 lakh to users within five minutes.

Earlier, Xiaomi had partnered with KreditBee to disburse loans. This time around, it has partnered with Aditya Birla Finance, Money View, EarlySalary, CreditVidya and ZestMoney. Xiaomi is providing real-time disbursements and supports all major banks on its platform.

How to avail an instant loan from Mi Credit

The loan application process is 100% digital and takes just five minutes. Just follow the below steps to avail a loan up to ₹1 lakh from Mi Credit:

  • Download the Mi Credit app from the Google Play Store.
  • Sign in using your phone number or your Mi account.
  • Once you sign in, you will see a banner that says, ‘Maximum loan amount ₹1,00,000’.
  • Click on the ‘Complete’ button.
  • Now, enter the required information such as your name, gender, date of birth, email ID, PAN number and pin code.
  • Agree to the terms and conditions at the end and click on ‘Submit’.
  • You will then be asked to submit your address proof and a selfie as part of KYC.
  • A loan profile will inform you whether you are eligible for a loan.
  • If you are eligible, you will be asked to submit your bank account details and the loan will be disbursed to your account.
How to check your credit score on Mi Credit app

In addition to availing an instant loan, you can also check your credit score on the Mi Credit app for free.

  • Download the Mi Credit app from the Google Play Store.
  • Sign in using your phone number or your Mi account.
  • At the bottom bar, click on ‘Profile’.
  • Now, click on ‘Credit Report’.
  • Provide the required details, including your PAN number.
  • Agree to the terms and conditions at the bottom and click on ‘Submit’.
Once your credit report is ready, it will be sent to your registered email address.
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