Jio Financial Services shares gain as NBFC launches digital loan against shares, mutual funds

Jio Financial Services Limited (JFSL) on Tuesday, April 8 announced that its NBFC arm, Jio Finance Limited (JFL), is entering the digital Loan Against Securities (LAS) space through its Jio Finance app.

Shares of Jio Financial Services surged 5.45% to hit an intra-day high of ₹225.15 per share on the National Stock Exchange (NSE) on Tuesday. It closed at ₹224.81 per share, up 5.29% on the NSE, and was among the top gainers on the Nifty50 today.

The fully digital Loan Against Securities (LAS) service will allow customers to get loans of up to ₹1 crore within 10 minutes, by leveraging their investments such as shares and mutual funds.

LAS, which includes loans against shares and loans against mutual funds, will allow customers to avail loans at competitive interest rates starting from 9.99%, tailored to their individual risk profile.

“These loans are for a maximum tenure of up to three years, with no foreclosure charges,” JFSL said in a regulatory filing. The LAS service will be available through the company’s JioFinance app and is designed to meet people’s financial needs without requiring them to sell their securities.

“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 filing said.

Kusal Roy, Managing Director and CEO, Jio Finance Limited, said: “The launch of Loans Against Securities is part of our broader 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.”