In an industry-first initiative, Jio Payments Bank Limited, a subsidiary of Jio Financial Services, introduced ‘Savings Pro’ on Monday, a feature designed to help customers earn more from idle balances in their bank accounts.
The facility enables account holders to automatically channel surplus funds above a self-chosen threshold of starting at Rs 5,000 during the initial phase — into growth plans of select overnight mutual funds. Customers can invest up to Rs 1,50,000 per day through this feature.
Redemptions are flexible, with up to 90 per cent of investments (capped at Rs 50,000) available instantly, while the remaining amount can be withdrawn within one to two working days in line with Securities and Exchange Board of India (SEBI) norms.
The entire process is digital via the JioFinance app, with no entry or exit loads, hidden charges, or lock-in periods. Customers can view eligible mutual funds, track their returns, and adjust thresholds seamlessly.
Vinod Easwaran, Managing Director and Chief Executive Officer of Jio Payments Bank, said the initiative was designed for financially aware customers seeking smarter ways to grow savings in a softening interest rate environment. “Savings Pro empowers them to turn a passive bank balance into an earning opportunity with no paperwork, no cost, and easy access,” he said.
The company said the product supports long-term financial inclusion by providing both experienced and first-time investors a safe, liquid, and rewarding savings solution.
Jio Financial Services, the parent company, operates as a Core Investment Company registered with the Reserve Bank of India and runs a range of customer-facing businesses across credit, insurance, leasing, payments, and broking services.