Jio Finance Forays Into Digital Loans Against Securities

New Delhi: 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.