Money kept in a savings account usually earns very little interest, which makes it almost unproductive.
But now, Jio Payments Bank is bringing a new feature that can completely change this.
The bank will soon launch a product called “Savings Pro”, which will automatically invest the idle money in customers’ accounts into overnight mutual funds.
These funds can give much better returns compared to a normal savings account.
How “Savings Pro” Will Work
At the Annual General Meeting (AGM) of Jio Financial Services, MD
and CEO Hitesh Sethia announced that this will be the first savings account in India where unused money will directly be invested in overnight mutual funds.
Customers won’t need to make manual transfers, and they can withdraw their money easily whenever needed.
Currently, Jio Payments Bank offers only 2.5% interest (reduced from 3.5% in June 2025), while overnight mutual funds usually provide 5–6% annual returns.
The money remains safe and can also be withdrawn the next day.
This can be a big benefit for the 25 lakh customers of Jio Payments Bank, making their idle money more productive.
What Are Overnight Mutual Funds?
Overnight mutual funds are a type of open-ended debt fund where the maturity period is just one day.
Since the securities mature the very next day, these funds are considered safer than many other debt investments.
So far, savings accounts in India have only been seen as a secure place for interest earnings.
But with Savings Pro, Jio Payments Bank is turning the savings account into both a safe storage and an investment option for customers.
