Mumbai : JioBlackRock Asset Management Private Limited, a joint venture between Jio Financial Services Limited and BlackRock, one of the world’s leading asset managers, today announced the integration of the JioBlackRock Overnight Fund with ‘Savings Pro’, a savings-plus-investment feature available on the JioFinance App through Jio Payments Bank Limited (JPBL).
The integration enables customers to seamlessly deploy surplus balances from their bank accounts into overnight mutual funds through a fully digital experience.
JPBL’s Savings Pro is designed to combine the convenience of digital banking with access to mutual fund investments. The feature allows customers to automatically invest idle balances above a self-defined threshold into overnight funds while retaining liquidity and flexibility.
The offering provides customers with the option of an Auto-Invest feature, where surplus balances above a selected threshold are invested on a daily basis, or a One-Time investment option for immediate deployment. Customers can set thresholds between ₹5,000 and ₹1,50,000, with a daily investment limit of up to ₹1,50,000 through the platform.
Savings Pro is structured to offer an alternative for managing surplus balances while maintaining ease of access to funds. Customers can redeem up to ₹50,000 or 90% of the invested amount, whichever is lower, on an instant basis. Redemption requests beyond this limit are processed on a T+1 basis, in accordance with applicable regulatory guidelines. The offering has no entry or exit load, no lock-in period, and no hidden charges.
Sid Swaminathan, Managing Director and Chief Executive Officer, JioBlackRock Asset Management Private Limited, said: “Customers today are increasingly seeking simple and seamless ways to manage surplus balances. Through this integration, we are combining digital banking convenience with access to overnight fund solutions in a transparent and accessible manner. This is aligned with our broader effort to expand access to investment solutions for a wider set of investors.”
Vinod Easwaran, Managing Director and Chief Executive Officer, Jio Payments Bank Limited, said: “At Jio Payments Bank, we continue to focus on enhancing digitally enabled financial solutions for customers. Savings Pro is designed to provide a convenient way to manage surplus balances while maintaining flexibility, liquidity and ease of access.”
Savings Pro is available to Jio Payments Bank savings and salary account customers and offers a fully digital onboarding experience enabled through Aadhaar and video KYC on the JioFinance App. Customers can set or modify thresholds, track investments and monitor transactions through the platform.
This integration represents a step towards building a more integrated, accessible and digitally enabled financial ecosystem, combining everyday banking with investment access for customers.