Jio Finance Limited (JFL), the NBFC arm of Jio Financial Services Limited, has diversified its loan offerings by introducing loans against securities.

In a statement, the company said that the new offering will allow customers to leverage their investments, such as shares and mutual funds, to avail loans up to INR 1 Cr with interest rates starting at 9.99%.

The company claimed that the entire process will be digital and the loan will be disbursed within 10 minutes.

Jio Financial Services said that the loan can be availed via the JioFinance app and will have a maximum tenure of up to 3 years, with no foreclosure charges.

The new offering comes a few days in Jio Finance Limited to further expand its offerings.

Incorporated by Reliance in 2000, Jio Finance Ltd was rechristened from its erstwhile name Reliance Retail Ventures Limited back in August 2023.

The NBFC provides home loans, home loan balance transfer, loans against mutual funds, loans against property and corporate financing via the JioFinance app. As per its financial disclosure in Q3 FY25 investor presentation, Jio Financial Services’ assets under management stood at INR 4,199 Cr.

Shares of Jio Finance Services ended today’s trading session 5.2% higher at INR 224.80 on the BSE.

(The story will be updated soon.)

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