Jio Finance launches loan against security offering for customers

Jio Finance, the non-banking financial company (NBFC) arm of Jio Financial Services, on Tuesday said it has launched a fully digitised loan against securities (LAS) offering for its customers.

 

Customers of Jio Finance can now avail themselves of loans of up to Rs 1 crore, with interest rates starting at 9.99 per cent, tailored to their risk profiles.

 

Shares of Jio Financial Services jumped nearly 6 per cent on the National Stock Exchange to close at Rs 225.49 on Tuesday.

 

“Customers gain convenient access to short-term funds, while keeping their long-term investment growth on track,” the company said in its release.

 

 

LAS is a secured lending product that allows customers to leverage their investments, such as shares and mutual funds, to avail themselves of loans at competitive interest rates — all within just ten minutes through a completely digital process.

 

“The launch of LAS is part of our comprehensive digital strategy aimed at transforming the way customers access and interact with financial services. With a strong focus on innovation and user experience, this launch is a significant step in our mission to make financial services more accessible, efficient, and customer-centric,” said Kusal Roy, managing director and chief executive officer, Jio Finance.

 

Jio Finance offers home loans, loans against property, and corporate financing via its app. The app also offers financial services such as unified payments interface (UPI) transactions, money transfers, savings accounts, digital gold, insurance, and investment portfolio tracking.