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Jio Finance Limited (JFL) continues its rapid expansion into the financial services and product segments. On Tuesday, the company announced the launch of its Loan Against Securities (LAS) service. Under this scheme, customers can pledge assets like shares and mutual funds to receive loans of up to ₹1 crore — all within just 10 minutes. Following the announcement, Jio Finance’s stock price surged over 4%. Let’s take a closer look at how this new offering works.

What Has JFL Announced?

In a statement released on Tuesday, Jio Financial Services Limited’s NBFC arm, Jio Finance Limited, revealed its latest service — allowing customers to secure loans by pledging securities held in their demat accounts, such as shares and mutual funds. The company claims the entire process is fully digital, secure, and OTP-based. Customers can apply through the Jio Finance app and get loans up to ₹1 crore within just 10 minutes — without selling their assets.

What Is the Company’s Goal?

According to JFL’s official statement, the company aims to become a one-stop destination for all digital-first financial products. They are working to cater to a wide range of customer financial needs through a single platform. As part of this strategy, they have rolled out loan services against shares and mutual funds.

What Will Be the Interest Rates?

The interest rates for loans under the Loan Against Securities scheme will depend on the customer's personal risk profile. The company has stated that it will strive to keep interest rates as low as possible. On average, loans secured by securities will carry an interest rate of around 9.99%. Additionally, these loans can have a maximum tenure of up to three years. Importantly, there will be no foreclosure charges — meaning customers can repay their loans at any time without penalties.

What’s the Company’s Strategy?

Jio Finance Limited’s Managing Director and CEO, Kusal Roy, stated that the launch of the Loan Against Securities service is part of JFL’s broader digital strategy. The goal is to transform how customers access financial services, making them faster and more accessible. This new offering aligns with the company’s mission to provide seamless and efficient financial services.

Other Financial Products Available

Apart from Loan Against Securities, the Jio Finance app also offers products like home loans, loans against property, and corporate financing. In addition, the app provides UPI payments, money transfers, savings accounts, digital gold, insurance, and investment portfolio tracking services.

Stock Price Surge

Following the announcement of instant loans up to ₹1 crore, Jio Financial Services’ stock saw a significant jump. Just before market close at 2:47 PM, JFSL shares were trading at ₹224.71, up by 5.24%.