Jio Financial rallies as NBFC arm forays into digital LAS via app

The LAS is a secured lending product that allows customers to leverage their investments, such as shares and mutual funds, to avail loans at competitive interest rates.

The customers can avail loans of up to Rs 1 crore in just 10 minutes through the JioFinance App, with interest rates starting at 9.99%, tailored to their individual risk profiles. These loans are for a maximum tenure of up to three years, with no foreclosure charges. By choosing LAS on the JioFinance app, customers gain convenient access to short-term funds, while keeping their long-term investment growth on track.

Kusal Roy, managing director and CEO, Jio Finance, said, '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.'

Jio Financial Services (JFSL) is a core investment company (CIC), registered with the Reserve Bank of India. It is a new-age institution, which operates a full-stack financial services business. Through the JioFinance app, customers can access a wide range of services such as loans, savings accounts, UPI payments, recharges, digital insurance, and financial management tools.

The company's consolidated net profit increased marginally to Rs 294.78 crore in Q3 FY25, up 0.3% as compared with Rs 293.82 crore in Q3 FY24. Total income increased 5.7% YoY to Rs 507.97 crore in Q3 FY25.