Get Loans Up to Rs 1 Crore In 10 Mins: Jio Finance Launches Instant Loans Against Securities With 9.99% ROI

On Tuesday, Jio Finance Limited (JFL), the NBFC division of Jio Financial Services Limited, made Loan Against Securities (LAS) completely digital for its customers. With JFL's LAS service, a secured lending product, customers may use their investments-such as securities and mutual funds-to obtain loans at reasonable interest rates in as little as 10 minutes via an entirely digital procedure.

LAS, which includes Loan Against Shares and Loan Against Mutual Funds, is accessible through the JioFinance app and the move is aimed to satisfy clients' financial requirements without having them liquidate their securities. Depending on their unique risk profile, customers can obtain loans up to Rs. 1 crore with interest rates as low as 9.99%. These loans have no foreclosure fees and a maximum term of three years. Customers who select LAS on the JioFinance app maintain the growth of their long-term investments while having easy access to short-term funds.

"The launch of Loan Against Securities 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 CEO, Jio Finance Limited.

By providing customers with rapid and flexible access to funds through a variety of lending options, including as corporate finance, home loans, and loans against property, all easily available through the JioFinance app, JFL is leading the way by also offering a range of financial services, including UPI payments, money transfers, savings accounts, digital gold, insurance, and investment portfolio tracking, are also available through the JioFinance app.

The Reserve Bank of India has recognized Jio Financial Services Limited (JFSL) as a Core Investment Company (CIC). A variety of services, such as loans, savings accounts, UPI bill payments, recharges, digital insurance, financial tracking and management tools, and more, are available to users of the JioFinance app. Additionally, JFSL recently partnered with BlackRock, one of the top global suppliers of investment solutions, to provide asset management, wealth management, and brokerage services in India.