Mumbai, Sept. 22 -- Jio Payments Bank Limited has launched 'Saving Pro', an automated investment feature that allows its customers to invest idle funds in their accounts. The new product was announced through a filing to the National Stock Exchange (NSE) today.
The feature, available on the JioFinance app, enables customers to automatically invest surplus funds into "growth" plans of overnight mutual funds, which are considered to have relatively low risk.
According to the filing, customers must set a threshold amount, starting at Rs 5,000 during the initial launch phase. Any amount exceeding this threshold will be automatically invested. The facility allows for an investment of up to Rs 1,50,000 per day.
Customers can instantly redeem u...