India, Sept. 22 -- Jio Payments Bank Limited, a subsidiary of Jio Financial Services Limited, has introduced 'Savings Pro', an innovative feature that allows customers to earn higher returns on idle funds in their accounts by automatically investing surplus balances into the 'Growth' plans of overnight mutual funds.
Account holders can easily upgrade to a Savings Pro account through the JioFinance app and set a threshold amount, starting at Rs 5,000 during the initial phase. Any funds exceeding this threshold are automatically invested in select low-risk overnight mutual funds, with a daily investment limit of up to Rs 1,50,000.
Redemptions follow SEBI guidelines, with customers able to instantly redeem up to 90% of their investment, subj...