JioBlackRock Asset Management Private Limited, the asset management joint venture between Jio Financial Services Limited and BlackRock, has integrated the JioBlackRock Overnight Fund with ‘Savings Pro’, a savings-plus-investment feature available through Jio Payments Bank Limited (JPBL) on the JioFinance App.
The integration enables Jio Payments Bank customers to automatically invest surplus balances from their savings accounts into the JioBlackRock Overnight Fund through a fully digital process, helping them make better use of idle funds while maintaining liquidity and ease of access.
Savings Pro combines everyday banking with mutual fund investing by allowing customers to set a preferred balance threshold in their bank account. Any amount above the chosen threshold can be invested in the overnight fund automatically on a daily basis through the Auto-Invest feature. Customers can also choose a One-Time investment option to deploy surplus funds immediately. Thresholds can be set between ₹5,000 and ₹1,50,000, with daily investments capped at ₹1,50,000.
The offering is designed to provide flexibility, with customers able to instantly redeem up to ₹50,000 or 90% of their invested amount, whichever is lower. Redemption requests exceeding this limit are processed on a T+1 basis in line with regulatory requirements. The facility carries no entry or exit load, lock-in period, or hidden charges.
Commenting on the development, Sid Swaminathan, Managing Director and Chief Executive Officer, JioBlackRock Asset Management Private Limited, said, “Customers are increasingly looking for simple and convenient ways to manage surplus balances. Through this integration, we are bringing together digital banking and investment solutions in a seamless manner, helping broaden access to investment opportunities for a wider set of investors.”
Vinod Easwaran, Managing Director and Chief Executive Officer, Jio Payments Bank Limited, added, “Savings Pro offers customers a convenient way to put surplus balances to work while retaining liquidity and flexibility. It reflects our continued focus on delivering digitally enabled financial solutions that enhance customer experience.”
Available to Jio Payments Bank savings and salary account holders, Savings Pro offers a fully digital onboarding journey through Aadhaar-based verification and video KYC on the JioFinance App.
