Mumbai, Sep 22 (UNI) Jio Payments Bank Limited has launched ‘Saving Pro’, an automated investment feature that allows its customers to invest idle funds in their accounts. The new product was announced through a filing to the National Stock Exchange (NSE) today.
The feature, available on the JioFinance app, enables customers to automatically invest surplus funds into “growth” plans of overnight mutual funds, which are considered to have relatively low risk.
According to the filing, customers must set a threshold amount, starting at Rs 5,000 during the initial launch phase. Any amount exceeding this threshold will be automatically invested. The facility allows for an investment of up to Rs 1,50,000 per day.
Customers can instantly redeem up to 90 percent of their investment, with a maximum instant redemption limit of Rs 50,000. Larger amounts can be redeemed within one or two business days. The process adheres to guidelines set by the Securities and Exchange Board of India (SEBI).
The company highlighted that the product has no entry or exit loads, hidden charges, or lock-in periods, giving customers full control over their money. They can view eligible mutual funds and track returns with complete transparency through the app.
Vinod Easwaran, MD & CEO of Jio Payments Bank, stated that the product empowers customers to turn a passive bank balance into an earning opportunity, aligning with how people want to manage money today—effortlessly, intelligently, and digitally.
