Jio Financial Stock Gains 3% After Launch of Digital LAS Platform
Published • 9 April 2025 at 8:33 AM
JioFinance App Offers Instant LAS With Zero Foreclosure Fee
Jio Financial Services' share price surged over 3% on Tuesday after announcing the launch of a fully digital Loan Against Securities (LAS) offering through its NBFC arm, Jio Finance Limited (JFL). The stock rose as much as 3.93% to ₹221.90 on the BSE. The new LAS product allows customers to secure loans by pledging their shares and mutual funds, with a completely digital process taking just 10 minutes via the JioFinance app. The facility includes Loan Against Shares and Loan Against Mutual Funds, offering loans up to ₹1 crore at competitive interest rates starting from 9.99%, tailored to the customer’s risk profile. Loans can be availed for up to three years, with zero foreclosure charges, enhancing flexibility for borrowers. Kusal Roy, MD & CEO of Jio Finance Limited, stated that the LAS launch is part of the company’s broader digital strategy to revolutionize access to financial services with a focus on innovation, efficiency, and user experience. Despite the recent rally, Jio Financial shares are down 27% YTD and over 35% in the last six months. At 2:10 PM, shares were trading 3.86% higher at ₹221.75 on the BSE.
Jio Finance Unveils Digital Loan Against Securities via App
- Stock Surge: Jio Financial Services' share price rose over 3% on Tuesday, hitting ₹221.90 on the BSE.
- New Product Launch: The rise followed the launch of a fully digital Loan Against Securities (LAS) by its NBFC arm, Jio Finance Limited (JFL).
- LAS Details: The LAS facility includes Loan Against Shares and Loan Against Mutual Funds.
- Digital Process: Customers can avail loans in just 10 minutes via the JioFinance app through a fully digital process.
- Loan Amount and Tenure: Loans are available up to ₹1 crore for a maximum of three years.
- Interest Rates: Interest starts from 9.99%, customized based on the borrower's risk profile.
- No Foreclosure Charges: Borrowers benefit from zero foreclosure fees, offering more flexibility.
- Strategic Focus: The product is part of JFL’s broader digital transformation strategy to make financial services more accessible and user-friendly.
- CEO Statement: Kusal Roy, MD & CEO, emphasized innovation and user experience as central to the LAS rollout.
- Stock Performance: Despite the day's gain, Jio Financial shares are down 27% YTD and over 35% in the last six months.
