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Jio Payments Bank Launches ‘Savings Pro’ With Up to 6.5% on Idle Balances

Balances above a user-set threshold are auto-invested in overnight mutual funds under SEBI redemption rules.

Overview

  • Customers choose a threshold starting at Rs 5,000 in the initial phase, with surplus amounts invested automatically.
  • Investments through the facility are capped at Rs 1,50,000 per day.
  • Instant redemptions cover up to 90% of holdings subject to a Rs 50,000 limit, with larger sums settling in 1–2 working days.
  • The product is delivered via the JioFinance app with no entry or exit loads, hidden charges or lock-ins.
  • Jio is pitching the account to high-net-worth individuals and businesses seeking higher yields than typical savings rates.