Jio Payments Bank has launched a brand-new feature called
Savings Pro, designed to help customers get higher returns on their idle savings. With this account, surplus money above a chosen threshold is automatically invested in
overnight mutual funds, giving users the chance to earn up to
6.5% while keeping their money liquid and accessible.
How Jio Savings Pro Works
- Easy Upgrade: Any Jio Payments Bank customer can upgrade to Savings Pro through the JioFinance / MyJio app.
- Set a Threshold: You can choose a minimum balance (reports indicate ₹5,000 as the starting threshold). Any amount above this is auto-invested.
- Auto-Investment: Surplus funds are invested into the Growth option of selected overnight mutual funds.
- Quick Redemption: Up to 90% of the balance is instantly redeemable (with an instant redemption cap of ₹50,000). Larger amounts may take 1–2 working days.
Key Features at a Glance
- Potential Returns: Up to 6.5%, depending on overnight fund performance.
- Low Risk: Overnight mutual funds are considered very low-risk compared to other mutual fund categories.
- Liquidity: Most funds can be accessed instantly; large redemptions may take a day or two.
- Seamless Process: No paperwork or separate investment accounts needed; everything is managed within the Jio app.
Benefits of Savings Pro
- Higher returns compared to standard savings accounts.
- Automatic, hassle-free investing.
- Integrated within Jio’s ecosystem for easy management.
- Keeps your money accessible for emergencies.
Things to Keep in Mind
- Returns are not fixed — they depend on overnight mutual fund performance.
- Mutual fund risk applies (though overnight funds are low risk).
- Instant redemption limits apply (₹50,000 cap per day).
- Features may change, so always check the latest details in the app.
Who Should Consider This?
- Salaried individuals who keep balances in their Jio account.
- Freelancers or business owners holding working capital.
- Savers who want better returns without actively managing investments.
Quick FAQs
Q: Is my money safe in Savings Pro?
A: Funds are invested in overnight mutual funds — very low risk, but not bank-guaranteed.
Q: Can I still use UPI or a debit card with Savings Pro?
A: Yes, your transactions continue as usual. If needed, funds are redeemed automatically.
Q: How do I activate it?
A: Simply upgrade your account through the JioFinance / MyJio app.
Final Thoughts
Jio Savings Pro is a smart option for anyone who wants to earn better returns on their idle bank balance without compromising liquidity. With up to
6.5% potential returns, automatic investment in overnight mutual funds, and easy redemption, it bridges the gap between a regular savings account and short-term investments.
If you already use Jio Payments Bank, upgrading to
Savings Pro can be a simple way to make your money work harder.
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Sources: Jio Payments Bank official announcement, Economic Times, Business Standard.
