Reliance launches updated JioFinance app for Android and iOS: Here’s everything you need to know

JioFinance allows users to keep track of their expenses, pay bills for various services like electricity, credit cards and even make UPI payments.

JioFinance can also keep track of all your mutual funds on a single screen. (Express Photo)

Reliance’s financial arm – Jio Financial Services (JFS) recently launched an updated version of its JioFinance app. The company launched a beta version of the app earlier this year on May 30 and has said that it already has more than 6 million users.

Going by the app description on the Play Store, JioFinance is a “one-stop app for fast and secure UPI payments, seamless bill payments and personalized finance management.” The app also lets you see all your mutual fund investments in a single window and even track your personal expenses.

The updated version of the app offers 24 digital insurance plans, which include the likes of life, health, two-wheeler and motor insurance. It also doubles as a UPI payment app like Google Pay and PhonePe, meaning you can scan a QR code for payments, pay via mobile number, initiate self-transfer and more. The app also allows you to link and view all your bank accounts and mutual funds in one place and analyse your income and expenses using the My Money feature.

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Reliance says JioFinance already has millions of users.

Reliance says JioFinance already has more than 6 million users. (Express Photo)

As for bill payments, JioFinance can be used to pay credit card bills, FASTag, mobile plans, electricity, piped gas, DTH and more. JioFinance users can also open digital savings accounts on Jio Payments Bank Ltd. in just 5 minutes. For those wondering, the bank has more than 1,5 million customers and comes with a physical debit card.

If you want to take a loan, the app lets users get instant credit on mutual fund investment and apply for loan against property up to 10 crore with the interest rate starting from 9 per cent per year..

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