New Delhi, Apr 9: Jio Finance Limited (JFL), the NBFC arm of Jio Financial Services Limited, on Tuesday said it has introduced fully digital Loan Against Securities (LAS) for its customers with interest rate starting at 9.99 per cent.
The LAS offering 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, the company said in a statement.
Available through the JioFinance app, a one-stop destination for seamless and digital-first financial services, LAS – comprising Loan Against Shares and Loan Against Mutual Funds – is designed to meet the financial needs of customers, without requiring them to sell their securities, it said.
Customers can avail loans up to Rs 1 crore with interest rates starting at 9.99 per cent, tailored to their individual risk profile, it said.
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 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, MD and CEO of Jio Finance Ltd.
JFL is pioneering a customer-first journey by empowering customers with quick and flexible access to capital through diverse lending solutions, including home loans, loan against property, and corporate financing, all conveniently accessible via the JioFinance app.
The JioFinance app also offers a comprehensive suite of financial services, such as UPI payments, money transfers, savings accounts, digital gold, insurance, and investment portfolio tracking.
