Jio Payments Bank Integrates JioBlackRock Overnight Fund into Savings Pro, Enabling Automated Investment of Surplus Account Balances
Highlights
- JioBlackRock Overnight Fund added to Jio Payments Bank’s Savings Pro feature.
- Customers can set balance thresholds between ₹5,000 and ₹1.5 lakh.
- Excess funds can be automatically invested in an overnight mutual fund.
- Instant redemption available up to ₹50,000 or 90% of invested amount.
- No lock-in period, entry load, exit load, or hidden charges.
Mumbai: JioFinance App has introduced a new investment feature that allows customers to automatically invest surplus balances from their bank accounts through the integration of the JioBlackRock Overnight Fund with Jio Payments Bank’s Savings Pro facility.
The offering is available to savings and salary account holders of Jio Payments Bank. The overnight fund is managed by JioBlackRock Asset Management, a joint venture between Jio Financial Services and BlackRock.
Savings Pro is designed to combine everyday banking with investing by automatically moving excess balances above a customer-defined threshold into an overnight mutual fund. The objective is to provide customers with a simple way to potentially earn returns on idle funds while maintaining liquidity and digital convenience.
Customers can activate an Auto-Invest option, under which balances exceeding the chosen threshold are invested automatically on a daily basis. Alternatively, users can opt for one-time investments directly through the platform.
The facility allows customers to set balance thresholds ranging from ₹5,000 to ₹1.50 lakh, while the maximum daily investment limit through the platform is capped at ₹1.50 lakh.
A key feature of the service is its liquidity. Customers can instantly redeem up to ₹50,000 or 90% of the invested amount, whichever is lower. Redemption requests exceeding this limit will be processed on a T+1 settlement basis.
The company stated that the service comes with no entry load, exit load, lock-in period, or hidden charges, making it suitable for users looking to manage short-term surplus funds efficiently.
Sid Swaminathan said the integration addresses growing demand for simple digital solutions to manage excess account balances while providing easy access to investment opportunities.
Meanwhile, Vinod Easwaran said the bank continues to strengthen its digital financial ecosystem, with Savings Pro offering customers flexibility, liquidity, and seamless access to investment products.
The onboarding process is fully digital, allowing customers to activate the service through Aadhaar-based verification and Video KYC on the JioFinance app. Users can also monitor investments, modify thresholds, and track transactions directly through the platform.
