Jio Payments Bank to Enable Customers to Invest in Overnight Mutual Funds

Jio Payments Bank (JPB) will soon launch Savings Pro, a product that will automatically invest customers’ idle balances in overnight mutual funds, as per news reports. This was announced by Hitesh Sethia, Managing Director and CEO of Jio Financial Services (JFS), at the company’s annual general meeting.

As per news reports, Sethia stated, "The Payments Bank is soon going to launch an innovative new product, called Savings Pro, which will bring to customers India's first savings account that auto-invests idle cash in overnight mutual funds for better returns".

Customer and Deposit Figures

As of June 2025, Jio Payments Bank had over 25 lakh customers and a deposit base of over ₹358 crore. The bank also works with more than 50,000 business correspondents. Like all payments banks, it operates under a ₹2 lakh cap on deposits per account, as mandated by regulations.

Interest Rates and Returns

The new facility follows a cut in JPB’s savings account interest rate. From June 3, 2025, the rate was reduced to 2.5% per annum, compared with 3.5% earlier in the year. By linking idle funds to overnight mutual funds, the bank will offer depositors another channel for returns.

Other Services Underway

Apart from deposit accounts, JPB provides services such as Aadhaar-enabled payments, domestic money transfers, and B2B UPI solutions. The bank has also been empanelled by the National Highways Authority of India (NHAI) as an acquirer bank, with responsibility for handling five toll plazas.

Jio Financial Services Businesses

As per news reports, JFS, the parent entity of JPB, is expanding across multiple financial segments. Jio Credit, its lending unit, is active in 11 cities and manages assets of about ₹11,600 crore, including home loans, loans against property, and corporate loans. JFS also reported over 80 lakh monthly active users on the JioFinance app, which now includes tax filing and planning features.

Jio Financial Services Share Price 

As of 10:39 am on August 29, 2025, Jio Financial Services share price was trading at ₹313.65, up ₹3.55 (1.14%) for the day.

Read More: Jio Financial Services Board Approves to Raise ₹15,825 Crore!

Conclusion

The launch of Savings Pro will mark the first savings account in India that automatically invests idle deposits in overnight mutual funds. This adds a new option for Jio Payments Bank customers at a time of lower savings rates.

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