Jio Payments Bank launches ‘Savings Pro’ feature to auto-invest surplus funds

Jio Payments Bank Limited, a subsidiary of Jio Financial Services, has introduced a new feature called ‘Savings Pro’, which allows account holders to automatically invest surplus funds into select overnight mutual funds.

The feature is accessible through the JioFinance app.

Under this initiative, customers can set a minimum balance threshold, starting at ₹5,000, and any funds above this amount are automatically invested in the growth plans of overnight mutual funds.

Investors can allocate up to ₹1.50 lakh per day, with the option to instantly redeem up to 90% of their investments, subject to a maximum limit of ₹50,000.

Additional redemptions follow standard mutual fund settlement timelines.

The feature carries no entry or exit charges and does not have lock-in periods. Returns are linked to the performance of the underlying mutual funds, which are subject to market risks. According to the company, annualised returns on these funds have ranged up to 6.5% over the past two years.

Vinod Easwaran, MD & CEO of Jio Payments Bank Limited, stated that Savings Pro is intended to offer customers an option to earn from idle balances in their accounts in a fully digital and automated manner.

The Savings Pro feature can be accessed by existing and new Jio Payments Bank account holders through the JioFinance app, which also provides tools to monitor investments and returns.