Jio Payments Bank Launches ‘Savings Pro’ Auto-Investment Feature for Higher Returns

Jio Payments Bank unveiled ‘Savings Pro,’ a feature designed to automatically invest surplus customer funds into overnight mutual funds, offering returns up to 6.5%. The service, accessible via the JioFinance app, requires a minimum threshold of ₹5,000, with daily investment limits capped at ₹1.5 lakh. Instant redemptions are available for 90% of investments, up to ₹50,000, while larger withdrawals process within 1-2 business days. The product carries no fees or lock-in periods.

Vinod Easwaran, Managing Director and CEO of Jio Payments Bank, emphasized the feature’s appeal to financially savvy customers seeking alternatives in a softening interest rate environment. Returns are benchmarked against annualized 2-year performance data of overnight mutual fund growth plans, though market risks apply under SEBI guidelines.

The initiative, positioned as an industry-first, aims to optimize idle bank balances through automated digital investment. Shares of parent company Jio Financial Services traded marginally lower at ₹316.70, down 0.09%.