Reliance Group Chairman Mukesh Ambani’s Jio Financial Limited (JFL) has introduced a new ‘Loan Against Securities’ (LAS) facility. Customers can pledge their shares and mutual funds and get digital loans of up to Rs 1 crore in just 10 minutes. The process is entirely digital secure and based on OTP verification with interest rates starting at 9.99% and without any foreclosure charges. Jio Financial Limited (JFL) is the NBFC arm of Reliance Group has entered the LAS segment under which customers can borrow against securities like shares and mutual funds held in their Demat accounts. This service and fast loan disbursement process will be handled via the Jio Finance app. Interest Rates And Loan Tenure The interest rates for loans against shares and mutual funds start at 9.99% depending on the customers personal risk profile. The loans come with a maximum tenure of three years and no foreclosure charges making it a flexible and cost-effective solution for borrowers. 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. The launch of LAS 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 said Kusal Roy MD and CEO of Jio Finance Ltd. JFL is pioneering a customer-first journey by empowering customers with quick and flexible access to capital through diverse lending solutions including home loans loan against property and corporate financing all conveniently accessible via the JioFinance app. The JioFinance app also offers a comprehensive suite of financial services such as UPI payments money transfers savings accounts digital gold insurance and investment portfolio tracking.  (With Inputs From PTI)