Jio Payments Bank Launches ‘Savings Pro’: Auto-Invest Surplus in Overnight Funds, Earn Up to 6.5%

Jio Payments Bank Limited has rolled out a new digital feature, ‘Savings Pro’, aimed at helping users optimise idle cash. This innovative facility enables automatic investments in overnight mutual fund plans once their balance exceeds a minimum threshold, providing both flexibility and potential returns without the need for manual intervention.

How Savings Pro Works for Jio Payments Bank Users

‘Savings Pro’ enables Jio Payments Bank customers to assign a threshold amount, starting from ₹5,000. Any balance exceeding this set amount is automatically diverted into select overnight mutual fund growth plans. Via the JioFinance app, customers gain access to this feature, which functions seamlessly in a fully digital manner, allowing maximum convenience and control.

Users can invest up to ₹1,50,000 each day through the feature. Additionally, up to 90% of total investments or a maximum of ₹50,000 are instantly redeemable. Any amount beyond this adheres to standard fund settlement durations.

Returns, Flexibility, and Charges

The invested amounts in Savings Pro carry no lock-in periods, entry charges, or exit fees, making it highly attractive for users seeking liquidity alongside returns. Over the past 2 years, the annualised returns from these overnight mutual funds have reached up to 6.5%, depending on market performance.

The funds chosen are overnight mutual funds, known for being low-risk options with daily maturity, offering capital preservation with generation of reasonable yields compared to idle balances.

Read More: RBI Urges to Cut Retail Financial Charges and Impact on Fintech and Banks!

Accessibility via the JioFinance App

Customers can monitor and manage their automatic investments using the JioFinance app. New and existing account holders can easily activate the Savings Pro feature within moments. The platform offers tools to track both the amount invested and returns generated, ensuring transparency through real-time visibility.

Conclusion

Jio Payments Bank’s ‘Savings Pro’ marks a significant tech-powered initiative aimed at letting customers earn through idle account balances. With flexibility, automation, and user-friendly integration via the JioFinance app, it opens up investment avenues within a secure, low-risk mutual fund environment.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities are subject to market risks. Read all related documents carefully before investing.