Quick Answer: What Is Mi Credit?


Is MI credit safe?

Mi Credit is a secure, instant personal loan service by Xiaomi. It’s available to all Xiaomi users running MIUI. You can take loan up to 1 lakh rupees with real-time disbursement. The interest rate vary from 1.3% to 2.5% per month.

What is Mi credit used for?

With Mi Credit, users will be able to get personal loans quickly. Users can apply for the loan easily and get the approvals in real-time. Xiaomi is also promising a lower interest rate for the loans. The entire process of KYC verification, repaying through e-mandates and disbursal of the money is done digitally.

Is MI credit Chinese app?

Prior to its availability in India, Mi Credit was launched in China. Xiaomi said the Mi Credit app will be pre-installed on all Xiaomi smartphones running the Android-based MIUI operating system. The app is also available from the Google Play Store for non-Xiaomi Android smartphone users.

Is it good to take loan from MI credit?

My experience in getting a loan from Mi Credit was extremely good. The entire process – application, verification, signing the agreement and disbursement – was digital with absolutely no human interaction ever. Whole process took few hours and the money was in my bank account!.

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Is MI Credit banned in India?

Xiaomi’s Mi Browser now banned in India.

Can I delete Mi account?

In accordance with applicable laws and regulations, you may have the right to request, correct, or delete the personal information we have collected from you. You may also have the right to cancel our services and delete your account. To do that, send an email to [email protected] xiaomi.com.

Is MI credit only for MI users?

The app is available for all Android users and not restricted to only Xiaomi users. The Mi Credit app comes preloaded on all MIUI phones, and can also be downloaded from Google Play Store and GetApps, Xiaomi’s own app store.

How can I get loan from MI pay?

  1. Registration and Loan Application.
  2. Register through Mi account or phone number. Complete KYC Setup.
  3. Upload KYC documents (ID & Address Proof) & add personal details for online verification. Add bank details & Select loan offer.

Why is xiaomi banned in USA?

The conflict first began in November 2020, when former US President Donald Trump designated Xiaomi as a “Communist Chinese military company”, barring American citizens and companies from investing or dealing with the maker.

Why is mi Community banned?

This comes after many Chinese apps including Mi Browser and Mi Community app were banned in India as a result of the country’s move to counter China’s dominance in the India’s internet services market. 2) MIUI Cleaner app is not using Clean Master app banned by Indian Govt. A new version of MIUI coming soon.

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Why did Chinese apps banned in India?

The MeITY orders say that the apps were banned for engaging in activities “prejudicial to sovereignty and integrity of India, defence of India, security of state and public order,” under Section 69A of the Information and Technology (IT) Act.

How do I pay my MI credit?

The loans can be repaid with EMIs over a period starting from 91 days to 3 years. Interest rates on Mi Credit start at 1.35 per cent per month.

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