In order to fulfill the basic functions of our service, the user hereby agrees to allow Xiaomi to collect, process and use personal information which shall include but not be limited to written threads, pictures, comments, replies in the Mi Community, and relevant data types listed in Xiaomi's Private Policy. By selecting "Agree", you agree to Xiaomi's Private Policy and Content Policy .


[Announcement] Declared but not Invested? Mi Credit is here to help!

2020-01-02 23:07:34
10251 110

Mi Fans!
The end of the financial year is almost here where all salaried and self-employed people submit the investment proofs for the declaration that they made at the start of the year 2019-20. Want to save more? Mi Credit, Xiaomi’s official lending platform can help you.

How does the declaration work?
All employers deduct income tax from your salary on a monthly basis which goes to the government. You should submit a “declaration” of your proposed (existing) investments/options so that your net taxable salary can be calculated and thereby tax will be deducted and you get the net in hand every month. As essential proofs, you should plan your tax savings in advance in terms of how much is your obligatory/ongoing existing investments like PF, insurance premiums, tuition fees, etc.

The government allows tax saving on certain investments, like Life insurance premium/tuition fees/Home Loan Principal and Interest, NSCs, PF, PPF, Mutual Funds ELSS, Tax Savings FDs etcetera. Apart from that, you are also entitled to claim benefit for LTA, HRA, interest on your home loans and Reimbursements of Medical expenses etcetera. These investments are not taxed by the government.

How can Mi Credit help you?
For saving more, it is always better to plan your taxes in advance and invest in time, otherwise, your tax liability is recalculated and additional tax is adjusted in the remaining months of January or February to March. If you are not able to make the investments in time due to lack of money, Mi Credit can lend you up to ₹2,00,000 here.

How to apply for a loan?
Step 1: Install Mi Credit app from Google Play Store and register through Mi account or phone number
Step 2: Upload KYC documents (ID & Address Proof) & add personal details for online verification
Step 3: Add bank details to facilitate transactions
Step 4: Loan amount up to ₹2,00,000 is disbursed to your bank account quickly

Where to download Mi Credit?

Do note, the link to GetApps works only on the Xiaomi devices via community app.

About Mi Credit
Mi Credit is a personal loan platform from Xiaomi - India’s #1 Smartphone Brand, allowing you to apply for a loan up to ₹2,00,000 in four quick steps and get money within minutes. You can use this money to put in the investments which will allow you to save tax and secure your long term investments. The application process is completely digital and hassle-free and can be completed with the help of your mobile phone anywhere, even when you are sitting at your home, office or commuting.

Need help? Feel free to contact us
Customer Service Email:
Customer Service Hotline: 1800-258-6286 (Monday - Sunday, 9 AM to 11 PM (IST))

2020-01-02 23:07:34
Favorites58 RateRate

Master Bunny

PRASAD89 | from app


Well Explained.thanks for sharing.
2020-01-02 23:35:15
Service Available Tamil Nadu ???

2020-01-02 23:40:49

Pro Bunny

Arun86 | from Redmi Y2


Nice threads
2020-01-02 23:58:42

Pro Bunny

sudhir439 | from Redmi Note 7


2020-01-03 00:08:41

Master Bunny

Hrxx | from Redmi 4


well explained
2020-01-03 00:35:56

Semi Pro Bunny

Subroto264 | from Redmi K20 Pro


2020-01-03 01:43:17

Pro Bunny

Swagato Bag | from Redmi Note 7


2020-01-03 01:54:01


Nidhin@mi | from Redmi 5 Plus


very good app...!!

2020-01-03 02:48:50

Semi Pro Bunny

puttarj | from Redmi Note 6 Pro


2020-01-03 03:22:08

App Review Team

Surya Prakash Gautam | from Redmi Note 6 Pro


Thanks for sharing
2020-01-03 03:22:15
please sign in to reply.
Sign In Sign Up



Beta Tester
India 2nd year
100K members
Redmi 3S
APP scratch card
6th MIUI
Mi Max
Independence Day
Power At Last
AP2 Livestream
100 threads in a Month
2016 Diwali with Mi
300K Members
Go Smash!
3 Days Check-In
7 Days Check-In
21 Days Check-In
40 Days Check-In
70 Days Check-In
100 Days Check-In
1 Year Check-In
Lucky Draw No.
500K Members
Christmas Contest
2016 Christmas
Mi Explorers
2016 #ThrowbackwithMiComm
Pokemon Go!
App Review
1 million members
Xiaomi 7th Birthday
Resources Star
Resources guru
Mi Campus Superstars Entry
Mi Campus Superstar Candidate
Fitness Guru
June-100 replies in a month
Тема мая 2017
July-100 replies in a month
Aug-100 replies in a month
Sep-100 replies in a month
Oct-100 replies in a month
Nov-100 replies in a month
Dec-100 replies in a month
1st Anniversary
71st Independence Day
My Poster My Life
MIUI 7th Anniversary
2 million registered members
Resources Maha Guru
Mi A1 Review Contest
Newbie Member
Twitter Medal
New Home Medal
Device Team Member
Techie Team Member
Android O Tester
Mi Apps
Christmas 2017
2018 New Year Medal
MIUI Instagram
2017 Xiaomi Annual Bill
Big Change
MIUI Beta Tester
Best Contributors
Wang Cai Medal
Mi Community Updater
Color Your Planet
Spam Hunter
Color Our Planet Game
STAR Bug Hunter
Winner of April
April Participation
The Motivator
5-Star Motivator
Golden Mi Bunny
Q & A Master
Q & A Rookie
Go Bunny Weekly Top3
Go Bunny Medal
MIUI Subscriber
Golden Mi Bunny
Mi Explorer in Spain
Mi Explorers
MIUI 8th Anniversary
Go Bunny Master
عيد الأضحي
Eid Mubarak
5 Million Registered Users
Mi Music: 20 FREE Downloads
Ringtones Mania
App Review Team
10 Million Downloads
Message in a bottle
Throwback With Mi 2018
Xiaomi's 9th Birthday
9 Years of MIUI
Dark Mode
Mi-stery Box Game
Writer of the Year
We Help!
#AnswerMi Vol 1
Holi Hai!

Read moreGet new
Copyright©2010-2020, All Rights Reserved
Content Policy
Quick Reply To Top Return to the list