chinese smartphone brand xiaomi claims to have provided loans worth over rs 28 crore through the mi credit app since its launch in india back in may xiaomi launched the mi credit app in india in partnership with an instant personal loan platform called kreditbee the app offered loans of a maximum of rs 1 lakh the company claims that more than 20 users have availed the highest amount of loan at rs 1 lakhcurrently mi credit services is functioning in more than 10 states across 1500 pin codes the company aims to expand it to more than 19000 pin codes by the end of fy2019 the company aims to expand it to more than 19000 pin codes by the end of fy2019calling it an online curated marketplace xiaomi has partnered with nbfcs or fintechs such as aditya birla finance limited money view earlysalary zestmoney and creditvidya to provide loans to borrowerborrowers can apply for a loan through xiaomis mi credit app this app will come preloaded on all miui phones it is also listed on google play store and xiaomis own app store called getapps borrowers are required to complete the digital application form and xiaomi says that once the loan is approved it will let the borrower decide the amount and the tenure of the loan the mi credit app is said to show real time disbursement of loans all user data on mi credit is stored on mi servers in india through amazon web services cloud infrastructure said the company