Get loan upto Rs 1 crore in 10 minutes! Mukesh Ambani-led Jio Finance launches digital loan against securities

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Jio Financial Services, Reliance Industries' financial arm, has announced the launch of digital loans against mutual funds and shares, marking its entry into the secured lending space. The business hopes to make a name for itself in India's competitive fintech market and capitalize on the country's expanding retail investor base with this new product. Jio Financial's digital platform will make the lending facility accessible, allowing consumers to easily pledge their current savings and obtain money immediately.

Depending on their risk profiles, customers can obtain loans up to Rs 1 crore with interest rates as low as 9.99 per cent. According to a statement from JFSL, the LAS offering is a secured lending product that enables customers to leverage their investments, such as shares and mutual funds, to obtain loans at competitive interest rates in ten minutes through a fully digital process. It is available for a maximum tenure of up to three years and comes with no foreclosure charges.

Through its app, JFL provides corporate finance, residential loans, and loans secured by real estate. Additionally, the app provides financial services including digital gold, savings accounts, money transfers, UPI payments, insurance, and investment portfolio management.

“Available through the JioFinance app, LAS is designed to meet the financial needs of customers, without requiring them to sell their securities . Customers gain convenient access to short-term funds, while keeping their long-term investment growth on track,” the company said.

The platform offers real-time insight on permissible loan amounts and interest rates in an effort to provide a transparent and easy-to-use borrowing experience. By putting speed, convenience, and client confidence first, Jio Financial Services is establishing itself as a tech-first lender. With the goal of offering financial goods including loans, insurance, and wealth management, the firm was separated from Reliance Industries in 2023.