Jio Financial Shares Rise Over 3% as Subsidiary Launches Fully Digital Loan Against Securities 📈💥
- 📊 Stock Performance: Jio Financial Services shares surged 3.93% to ₹221.90 on Tuesday, following the announcement of its subsidiary, Jio Finance Limited (JFL), launching a fully digital Loan Against Securities (LAS) offering.
- 💡 New Product Launch: The Loan Against Securities (LAS) is a secured lending product that allows customers to leverage investments like shares and mutual funds to avail loans at competitive interest rates. The entire process is digital and can be completed in just 10 minutes.
- 📱 Easy Access: The LAS facility will be available via the JioFinance app, offering loans up to ₹1 crore with interest rates starting at 9.99%. Loans have a maximum tenure of three years and no foreclosure charges.
- 📈 Market Reaction: By 2:10 PM, Jio Financial Services shares were up 3.86%, trading at ₹221.75.
The digital loan offering has sparked investor optimism, driving the stock higher. 🚀📱
