What is the maximum loan amount that I can avail using MI credit Ioan?

You can avail a loan of up to Rs.2 lakh from MI credit loan.

What is the rate of interest levied if I avail a loan from MI credit?

The rate of interest starts from 16% p.a. The rate of interest levied will depend on the loan amount availed by you and the repayment tenure.

What is the repayment tenure under MI credit?

The maximum repayment tenure under MI credit is 3 years.

What are the documents I will have to provide in order to avail a loan from MI credit?

The list of documents you will have to provide in order to avail a loan from MI credit are:.PAN Card Proof of address Source of income Details of your bank account.

By which date should I pay the EMI every month?

You should have paid your EMI by the 5th day of each month.

Do I need to provide any security or collateral in order to avail a loan from MI Credit?

You won't be required to pay any security or collateral in order to avail a loan from MI Credit. All you will require is to pay the processing fee.

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Mi Credit Loan

MI Credit is a service launched by Xiaomi - one of India's largest phone brand, where it offers loan services to its customers. If you are a MIUI user or a customer of Xiaomi, you have the option of availing a loan by using the MI Credit instant loan facility.

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Similar to Mi Credit Loan we can opt personal loan

Benefits of availing a loan from MI Credit

The process to apply for a loan from MI Credit is extremely simple and hassle-free
If you meet all the eligibility criteria, then the lender disburses the loan amount to your bank account in real time
The rate of interest is attractive and starts at 16% p.a.
MI Credit is highly secure, and the information provided by you remains safe.
The process to apply for a loan from MI credit is simple and hassle-free.
You can apply for a loan online.
You can avail a loan to meet all your needs pertaining to education, travel, etc.
Minimal documentation.

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How to apply for a loan from MI Credit

Download the MI Credit app on your mobile phone either using the MI Apps if you are a MI phone user. The facility is unavailable to android users, but Xiaomi is expected to launch the app on Google Playstore soon.
Launch the app and grant all the permissions.
Click on 'Get Now' and provide your mobile number. You will receive a 'One-Time Password' (OTP) on your registered mobile number. Enter the OTP and proceed.
The next step will require you to upload all the necessary documents.
Upload a picture of yourself and click on 'proceed'. A loan profile will be created and whether you are eligible for a loan will be checked.
If you meet the eligibility criteria, you will be allowed to upload the details of your bank account and salary details. The lender will disburse the loan amount to the bank account provided by you.

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A good credit score can help you secure lower interest rates on loans and credit cards.

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FAQs on Mi Credit Loan

What is the maximum loan amount that I can avail using MI credit Ioan?
You can avail a loan of up to Rs.2 lakh from MI credit loan.
What is the rate of interest levied if I avail a loan from MI credit?
The rate of interest starts from 16% p.a. The rate of interest levied will depend on the loan amount availed by you and the repayment tenure.
What is the repayment tenure under MI credit?
The maximum repayment tenure under MI credit is 3 years.
What are the documents I will have to provide in order to avail a loan from MI credit?
The list of documents you will have to provide in order to avail a loan from MI credit are:
1. PAN Card
2. Proof of address
3. Source of income
4. Details of your bank account
By which date should I pay the EMI every month?
You should have paid your EMI by the 5th day of each month.
Do I need to provide any security or collateral in order to avail a loan from MI Credit?
You won't be required to pay any security or collateral in order to avail a loan from MI Credit. All you will require is to pay the processing fee.

News About Mi Credit Loan

Xiaomi to Offer Gold Loans and Insurances in India

Xiaomi Corp. will be offering a comprehensive range of financial services in India, including payments, lending, and insurance. Gold loans, credit line cards, and insurance goods will be some services that will be available. Xiaomi Corp will be collaborating with Aditya Birla Finance, IDFC Bank, Axis Bank, Money View, Stashfin, Early Salary, and Credit Vidya to offer these financial services.

6 August 2021

Important Personal Loan Pages

Personal Loan Eligibility by Banks

Personal Loan Interest Rates by Bank

Personal Loan EMI Calculator by Bank

Personal Loan Customer Care by Bank

Personal Loan Status Track by Bank

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