JioFinance has introduced a new feature that allows JioFinance+ customers to convert their accumulated JioPoints into 24K digital gold. Announced ahead of Dhanteras, the feature lets users redeem loyalty rewards earned through eligible financial transactions, including UPI payments and bill payments, for digital gold.
The new facility has been introduced by Jio Finance Platform and Service Limited (JFPSL), a wholly-owned subsidiary of Jio Financial Services Limited (JFSL). It aims to make everyday financial transactions more rewarding by allowing customers to turn their accumulated loyalty points into digital gold.
How to Convert JioPoints Into Digital Gold
Under the new feature, each JioPoint has a redemption value of ₹0.25. Customers need a minimum of 400 JioPoints, equivalent to ₹100, to convert their rewards into digital gold.
The quantity of gold credited to the customer’s account is calculated using the prevailing gold price at the time of conversion.
Customers can check their available JioPoints balance on the JioFinance app, select the number of points they want to redeem and view the corresponding gold value before confirming the transaction.
Digital Gold Credited Instantly to JioGold Holdings
Customers without an existing JioGold account can also complete the onboarding process through the app while using the conversion feature.
Once the conversion is successful, the 24K digital gold is instantly credited to the customer’s JioGold holdings. Users can check their updated gold balance and transaction history directly through the JioFinance app.
JioPoints to JioGold Conversion Available to JioFinance+ Members
The JioPoints-to-JioGold conversion feature is available exclusively to JioFinance+ customers.
JioFinance+ is a membership programme that offers benefits across eligible financial products available on the JioFinance marketplace. These include accelerated JioPoints accumulation and additional rewards.
According to the company, the programme follows a commission-sharing model through which platform earnings are redistributed to members, adding further value to eligible financial transactions.
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