Mumbai, Jio Finance Limited (JFL), the NBFC arm of Jio Financial Services Limited, has introduced fully digital Loan Against Securities (LAS) for its customers. The LAS off ering from JFL is a secured lending product that allows customers to leverage their investments, such as shares and mutual funds, to avail loans at competitive interest rates, all within just ten minutes through a completely digital process.
Available through the JioFinance app, a one-stop destination for seamless and digital-fi rst fi nancial services, LAS – comprising Loan Against Shares and Loan Against Mutual Funds – is designed to meet the fi nancial needs of customers, without requiring them to sell their securities. Customers can avail loans up to Rs. 1 crore with interest rates starting at 9.99%, tailored to their individual risk profi le. These loans are for a maximum tenure of up to three years, with no foreclosure charges. By choosing LAS on the JioFinance app, customers gain convenient access to short-term funds, while keeping their long-term investment growth on track.
“The launch of Loan Against Securities is part of our comprehensive digital strategy aimed at transforming the way customers access and interact with fi nancial services. With a strong focus on innovation and user experience, this launch is a signifi cant step in our mission to make fi nancial services more accessible, effi cient, and customer-centric,” said Kusal Roy, Managing Director and CEO, Jio Finance Limited.
JFL is pioneering a customer-fi rst journey by empowering customers with quick and fl exible access to capital through diverse lending solutions, including home loans, loan against property, and corporate fi nancing, all conveniently accessible via the JioFinance app. The JioFinance app also off ers a comprehensive suite of fi nancial services, such as UPI payments, money transfer, savings accounts, digital gold, insurance, and investment portfolio tracking.