Jio Finance Introduces Digital Loan Against Securities

Jio Finance Limited launched a digital Loan Against Securities (LAS) with an interest rate starting at 9.99%. The product enables customers to leverage investments like shares and mutual funds without selling them. Accessible via the JioFinance app, the initiative is part of a broader digital strategy to enhance financial service accessibility.

Jio Finance Limited, the non-banking financial company (NBFC) arm of Jio Financial Services, has unveiled a new digital financial product: Loan Against Securities (LAS). This innovative product allows customers to access funds quickly by leveraging their existing investments, such as shares and mutual funds, without the need to liquidate them.

Available through the JioFinance app, LAS offers loans of up to Rs 1 crore, with interest rates starting at 9.99%. The process is entirely digital, and loans get approved in minutes. Customers can benefit from short-term liquidity without derailing their long-term financial plans as the service accommodates their individual risk profiles.

According to Kusal Roy, MD and CEO of Jio Finance Ltd., LAS is part of JFL's digital strategy aiming to transform customer interaction with financial services. The JioFinance app also provides a wide array of financial services, including insurance and investment tracking, making it a comprehensive financial management tool for users.

(With inputs from agencies.)