JioFinance: For your life! 4.0.87

JioFinance presents itself as a comprehensive digital platform aimed at simplifying financial management for its users. The app offers a variety of services, including UPI payments, bill payments, and personalized financial tools, all designed to enhance user experience in managing their finances.

Seamless UPI Payments

• Facilitates online payments for shopping, food delivery, and travel bookings.
• Enables QR code scanning for effortless payments at local merchants, such as grocery stores and restaurants.
• Allows linking of RuPay credit cards for expedited transactions.
• Supports money transfers to contacts using mobile numbers or UPI IDs.
• Streamlines bill payments and provides instant recharges.
• Offers cross-border payment options through UPI International.
• Conveniently manage UPI settings and bank accounts from a single interface.

Simplified Banking Experience

• Instant opening of a zero-balance digital savings account with minimal steps.
• Competitive interest rate of 3.5% on savings.
• Secure fund transfers using NEFT or IMPS.
• Enhanced security with biometric authentication.
• Includes a physical debit card for ease of use.
• Offers comprehensive account management features:
• • View account balance and transaction history.
  • Update personal details such as nominee information and communication address.
  • Easily manage security settings and customer support requests.

Efficient Bill Payments

• Consolidate bill management in one interface with timely reminders.
• Simplified utility bill payments covering electricity, water, gas, and broadband services.
• Instant recharges for FASTag, DTH services, and mobile phones.
• Facilitates payments for house rent, maintenance fees, and other recurring expenses.
• Streamlines payments for credit cards, insurance premiums, charitable donations, and education fees.

Loan Options

• Easily accessible loans based on mutual funds, property equity, home loans, and balance transfers through a user-friendly process.

Loans on Mutual Funds

• A fully digital process allows users to pledge mutual fund investments for quick access to funds tailored to their financial requirements.
• Interest is payable only on the utilized portion of the loan amount.
• This loan option is available to both salaried individuals and MSME clients.

Additional Loan Information:

• Finance Amount: ₹25,000 to ₹15 Lacs
• Repayment Tenure: 3 years
• Interest Rate: Flat 9.9%
• Processing Fees: Flat 0.50% of sanctioned loan amount (inclusive of taxes)

Calculative Example:

If ₹1,00,000 is borrowed at a monthly interest rate of 0.825% (annualized at Flat 9.9%), the breakdown of payable amounts includes:

• Processing fee: ₹500 (Flat 0.50%)
• Other charges: ₹1,000 (annual maintenance charge at end of each year: 1%)
• Interest charged: ₹9,900

The total repayable amount after one year would amount to ₹1,11,400.

Loans Against Property:

• Loan amounts available up to ₹10 crore.
• Interest rates starting from 9%.*
• Flexible repayment terms ranging from 3 years to 15 years.

Your Finances in One Place:

The My Money feature allows users to link and analyze all bank accounts and mutual funds in a unified view to manage income and expenses efficiently.

Insurance Comparison:

The platform also facilitates a comparison of health, car, two-wheeler, and life insurance products from various insurers to meet diverse needs effectively.