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Jio Payments Bank introduces 'Savings Pro' for automated overnight mutual fund investments
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Mathrubhumi English
Jio Payments Bank introduces ‘Savings Pro’, a new feature that auto-invests idle balances above ₹5,000 into low-risk overnight mutual funds with instant redemption options.
Mumbai: Jio Payments Bank Limited, a subsidiary of Jio Financial Services, has rolled out 'Savings Pro', an industry-first feature that enables customers to earn higher returns on idle account balances by automatically investing surplus funds in overnight mutual funds.
Customers can set a threshold amount, starting at ₹5,000 during the launch phase, and any balance above this limit will be automatically invested in select low-risk overnight mutual fund ‘Growth’ plans.
Customers can view eligible mutual funds, set or modify thresholds, and track returns on their investment with complete transparency,” the company said in a statement.
Jio Payments Bank added that 'Savings Pro' leverages annualised two-year returns data from overnight mutual funds to help users optimise surplus balances while retaining liquidity.
['payments'
'overnight'
'pro'
'bank'
'fund'
'returns'
'savings'
'mutual'
'investments'
'funds'
'customers'
'introduces'
'jio']