Jio Payments Bank Launches "Savings Pro": India’s First Auto-Investing Savings Account Explained
how 'Jio Payments Bank’s' Savings Pro' account brings auto-investing to India’s savings landscape. Learn the benefits, features, and working of this innovative account, including up to 6.5% returns and seamless digital experience.
Jio Payments Bank ‘Savings Pro’: India’s First Auto-Investing Saving Account; How It Works
India’s digital banking landscape is witnessing a landmark innovation with the launch of Jio Payments Bank’s “Savings Pro,” touted as the country’s first-ever savings account that automatically invests surplus funds for enhanced returns.
For individuals seeking smarter wealth management while enjoying full control and liquidity,
Jio Payments Bank Launches “Savings Pro
this account bridges the gap between everyday savings and low-risk investing.
What Is Jio Payments Bank’s Savings Pro?
‘Savings Pro’ is a cutting-edge savings account designed to help account holders get more out of their idle bala
Unlike traditional savings accounts that offer static returns, ‘Savings Pro’ automatically sweeps surplus funds above a user-set threshold into select overnight mutual funds, currently promising returns of up to 6.5% (based on 2-year annualized returns of the underlying funds).
The offering is embedded with full digital convenience via the JioFinance app, ensuring easy setup and real-time monitoring.
Key Features and Benefits
Auto-Investing: Funds above a threshold (minimum ₹5,000 at launch) are invested automatically in low-risk, highly-liquid overnight mutual funds.
High Returns: Earn up to 6.5% on surplus funds—significantly outperforming regular savings interest.
Full Liquidity: Instantly redeem up to 90% of invested funds, with a ₹50,000 instant redemption cap per day; larger redemptions are processed within 1–2 working days.
No Entry/Exit Loads: No hidden fees, lock-in periods, or penalties.
SEBI-Compliant: All redemptions and mutual fund investments follow guidelines set by the Securities and Exchange Board of India (SEBI).
Daily Investment Cap: Invest up to ₹1,50,000 per day via the facility.
How ‘Savings Pro’ Works: Step-by-Step
Account Upgrade: Any Jio Payments Bank account holder can opt-in to ‘Savings Pro’ directly from the JioFinance app.
Set Threshold: Specify a threshold (minimum ₹5,000). Any balance above this figure is considered “surplus”.
Auto-Sweep Investment: Surplus funds above the threshold are auto-invested into eligible “Growth” plans of overnight mutual funds—these are debt funds investing in ultra-safe, very short-term instruments.
Earnings: Earn market-linked returns, up to 6.5%, credited on investments.
Flexible Redemption: Need cash? Instantly redeem up to 90% (max ₹50,000); for larger sums, funds reach the customer’s account in 1–2 working days.
No Hassle: No paperwork, schedules, or complicated procedures; all actions and monitoring are fully online.
What Are Overnight Mutual Funds?
Overnight mutual funds are a type of debt fund investing in securities with just one-day maturity, making them among the least risky mutual fund categories. Since funds are parked only for a single day and rolled over daily, credit and interest rate risks are minimal.
This matches the liquidity and capital safety expectations of savings account users, while delivering higher-than-savings returns.
Who Should Consider Savings Pro?
‘Savings Pro’ is ideally suited for:
Salaried professionals with fluctuating monthly balances who want idle funds to work harder.
Business owners needing instant liquidity and safety but aiming for higher returns than banks provide.
Savvy investors looking to combine day-to-day flexibility of savings accounts with the earning potential of mutual funds.
How Is Savings Pro Different from a Regular Savings Account?
Here’s a snapshot comparison:
| Aspect | Regular Savings Account | Jio Payments Bank Savings Pro |
|---|---|---|
| Surplus Handling | Earns standard interest only | Auto-invests surplus in overnight funds |
| Maximum Returns | Up to ~4% | Up to 6.5% |
| Liquidity | Immediate | Up to ₹50,000 instantly, more in 1-2 days |
| Risk | Nil | Minimal (overnight funds) |
| Fees | Sometimes minimum balance charges | No extra fees, no entry/exit loads |
| Setup | Traditional, branch/app | Fully digital, instant upgrade |
Getting Started: Onboarding Process
Download or log in to the JioFinance app.
Navigate to ‘Savings Pro’ and tap “Upgrade”.
Set a personal threshold (₹5,000 or higher as desired).
Review eligible overnight funds and opt-in for auto-invest.
Manage, redeem, or adjust settings anytime on the app.
Risks and Limitations
Returns are “market linked” and can fluctuate, though overnight funds are among the safest fixed-income categories.
Instant redemptions are limited to ₹50,000; larger withdrawals require up to 1–2 working days.
Maximum daily investment in the facility is capped at ₹1.5 lakh.
Funds are subject to mutual fund market risks.
The Future of Savings in India
By launching ‘Savings Pro’, Jio Payments Bank is signaling a new era where advanced financial products are accessible to the mass market, even for small savers.
The move is likely to nudge more Indians toward productive wealth management without sacrificing liquidity or trust.
In summary: Jio Payments Bank Savings Pro is an industry-first solution, merging the convenience and safety of savings accounts with the enhanced earning power of overnight mutual funds through an intuitive, digital-first approach.
This makes wealth growth simple, automated, and transparent