Turn idle cash into returns: Jio Payments Bank's Savings Pro offers 6.5%

Customers can earn higher returns on their idle liquidity by auto-investing surplus savings in the 'Growth' plans of Overnight Mutual Funds directly through the JioFinance app

In an industry-first move, Jio Payments Bank Limited, a subsidiary of Jio Financial Services Limited, has introduced ‘Savings Pro’, a feature that allows customers to earn higher returns on surplus funds in their bank accounts through automated investments in overnight mutual funds. The initiative aims to turn idle balances into productive investments, offering a seamless, fully digital experience.

With Savings Pro, customers can upgrade their accounts in just a few clicks via the JioFinance app. Users set a threshold amount—starting at ₹5,000 during the initial launch—and any balance exceeding this amount is automatically invested into select ‘Growth’ plans of Overnight Mutual Funds, which carry low risk.

Customers can invest up to ₹1,50,000 per day, and redemptions follow SEBI guidelines, with instant access to up to 90% of investments, subject to a maximum of ₹50,000, while the rest can be redeemed within 1–2 working days.

Customers need to set a threshold amount of their choice, starting at ₹5,000 during the initial launch phase, and any surplus funds in their account, exceeding this threshold, will be automatically invested into select overnight mutual funds, which carry low risk.

"With no entry or exit loads, hidden charges or lock-in periods, customers can maximise their returns and have full control over their money. Customers can view eligible mutual funds, set or modify thresholds, and track returns on their investment with complete transparency," the company said in a statement.

According to Jio Payments Bank, the feature leverages annualized 2-year returns data from overnight mutual funds, allowing users to maximize their idle balances while retaining full control over their money.

How It Works:

• Customers set a threshold amount, starting at ₹5,000, in their Jio Payments Bank account.
• Surplus funds above this threshold are automatically invested in select low-risk overnight mutual funds.
• Daily investment limit: Up to ₹1,50,000 per customer.
• Instant redemption: Up to 90% of the investment, with a maximum of ₹50,000, while remaining funds can be redeemed within 1–2 working days.
• The entire process is fully digital through the JioFinance app, with no entry/exit loads, hidden charges, or lock-in periods.

 

Mutual funds are subject to market risks. Returns are indicative and may vary. Investors are advised to read the offer document carefully before investing.