Reliance’s financial services arm has officially launched the new JioFinance App, now available for download on Google Play Store, Apple App Store, and MyJio. This follows feedback from users since the beta version, launched on May 30, 2024.

Since its initial release, the app has added several financial products and services based on customer feedback. These include loans on mutual funds, home loans (including balance transfer), and loans against property, said the company in its stock exchange filings.

Key Features of the JioFinance App The JioFinance app offers loans at competitive terms, providing significant savings for customers. It also includes a digital savings account from Jio Payments Bank Ltd. (JPBL), which can be opened in under five minutes using biometric authentication. The account comes with a physical debit card and offers a secure way for customers to manage their finances.

More than 1.5 million customers already use their JPBL accounts for routine expenses, with features such as UPI payments, mobile recharges, and credit card bill payments now available. The app also allows users to track their holdings across different bank accounts and mutual funds.

Additionally, JioFinance offers 24 insurance plans covering life, health, two-wheeler, and motor insurance, all available digitally. JFSL, in collaboration with its joint venture partner BlackRock, is also working on delivering innovative investment solutions to customers.

A Vision for Financial Accessibility “At JFSL, our mission is to democratize access to seamless and convenient financial services through technology. The updated JioFinance app, which is proudly Made in India, offers many new features and will soon introduce even more. We aim to become a trusted financial companion for the people of India, helping them achieve their financial goals with our comprehensive suite of products,” said Hitesh Sethia, Managing Director and CEO of JFSL.

Recently, the partnership between Jio Financial Services and BlackRock received in-principle approval from the Securities and Exchange Board of India (SEBI) to launch a mutual fund business in India. Full registration approval will be granted upon fulfilling SEBI's requirements, according to Jio Financial.

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