Industry-First: Jio Payments Bank Brings Smart Savings With ‘Savings Pro’

In a first for the industry, Jio Payments Bank Limited, a division of Jio Financial Services Limited, today announced the introduction of "Savings Pro," a cutting-edge feature that allows users to automatically invest their idle surplus funds in their Jio Payments Bank accounts in the "Growth" plans of Overnight Mutual Funds and increase their returns.

Any Jio Payments Bank customer can upgrade to a Savings Pro account with a few clicks. During the initial launch period, customers must choose a threshold amount of their choosing, beginning at Rs 5,000. Any surplus funds in their account that surpass this limit would be automatically invested into a handful of low-risk overnight mutual funds.

"Designed to serve both experienced and first-time investors, the product supports long-term financial inclusion by offering a safe, liquid and rewarding way to grow wealth," as per Jio Payments Bank.

This feature allows customers to invest up to Rs 1,50,000 per day and redemptions which will be processed in accordance with the guidelines set by the SEBI.

With a maximum instant redemption limit of Rs 50,000, customers can choose to instantly redeem up to 90% of their investments. Any surplus funds can be redeemed in one to two business days.

Vinod Easwaran, Managing Director and Chief Executive Officer, Jio Payments Bank Limited, said, "In an environment of softening interest rates, today's financially aware customers are actively seeking smarter alternatives to grow their savings. Savings Pro empowers them to do just that by turning a passive bank balance into an earning opportunity. With no paperwork, no cost, and easy access, we are offering a future-ready product that aligns with how Indians want to manage money today - effortlessly, intelligently and digitally."

"With no entry or exit loads, hidden charges or lock-in periods, customers can maximise their returns and have full control over their money. Customers can view eligible mutual funds, set or modify thresholds, and track returns on their investment with complete transparency," said Jio Payments Bank in a statement on Monday.

With Savings Pro, Jio Payments Bank is taking a significant step toward its goal of making financial decisions easier and making investment-linked savings available to all Indians.
Meanwhile, Jio Financial Services Limited recently announced the incorporation of a joint venture company with Allianz Europe B.V., named Allianz Jio Reinsurance Limited (AJRL), on September 8, 2025.

The joint venture aims to conduct reinsurance business in India, subject to necessary regulatory approvals. Jio Financial will hold a 50% stake in AJRL by investing Rs 2.50 lakhs towards the subscription of 25,000 equity shares of Rs 10 each. The incorporation follows the no-objection certificate granted by the Insurance Regulatory and Development Authority of India (IRDAI), with the Certificate of Incorporation issued by the Ministry of Corporate Affairs.

The Reserve Bank of India has recognized Jio Financial Services Limited (JFSL) as a Core Investment Company (CIC). Through customer-facing businesses such as Jio Credit Limited, Jio Insurance Broking Limited, Jio Payment Solutions Limited, Jio Leasing Services Limited, Jio Finance Platform and Service Limited, and Jio Payments Bank Limited, JFSL, a cutting-edge organization, runs an extensive range of financial services business.