JioBlackRock Integrates Overnight Fund with Jio Payments Bank’s Savings Pro
The integration allows Jio Payments Bank customers to automatically invest surplus account balances into overnight mutual funds through a fully digital platform while maintaining liquidity and flexibility.
MUMBAI— JioBlackRock Asset Management Private Limited has announced the integration of 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 is aimed at enabling customers to deploy surplus balances from their bank accounts into overnight mutual funds through a fully digital process.
JioBlackRock Asset Management is a joint venture between Jio Financial Services Limited (JFSL) and global asset manager BlackRock. The company said the move is intended to combine the convenience of digital banking with access to investment products for retail customers.
Savings Pro allows customers to automatically invest idle balances above a self-selected threshold into overnight mutual funds while retaining flexibility and access to their money. Customers can choose between an Auto-Invest option, which invests surplus balances daily, and a One-Time investment option for immediate deployment of funds.
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Under the offering, customers can set investment thresholds ranging from ₹5,000 to ₹1,50,000, with daily investments capped at ₹1,50,000 through the platform.
According to the company, the feature is designed to provide an alternative way of managing surplus balances while preserving liquidity. Customers can redeem up to ₹50,000 or 90 per cent of the invested amount, whichever is lower, on an instant basis. Redemption requests exceeding this limit are processed on a T+1 basis in accordance with applicable regulations.
The offering does not carry any entry or exit load, lock-in period or hidden charges.
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Sid Swaminathan, Managing Director and Chief Executive Officer of JioBlackRock Asset Management Private Limited, said customers are increasingly looking for simple and seamless ways to manage surplus funds.
“Through this integration, we are combining digital banking convenience with access to overnight fund solutions in a transparent and accessible manner,” he said.
Vinod Easwaran, Managing Director and Chief Executive Officer of Jio Payments Bank Limited, said the bank remains focused on expanding 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,” he said.
The service is available to Jio Payments Bank savings and salary account holders. Customers can complete onboarding digitally through Aadhaar-based verification and video KYC on the JioFinance App. The platform also enables users to set and modify thresholds, track investments and monitor transactions.
The integration reflects a broader trend in India’s financial services sector, where digital banking platforms are increasingly combining traditional banking services with investment products to offer customers more integrated financial management solutions.
Industry observers note that overnight funds have emerged as a popular option for parking short-term surplus funds because of their liquidity and relatively low interest-rate risk. By embedding such products within banking applications, financial institutions are seeking to make investing more accessible to a wider segment of customers.
JioBlackRock said the initiative is part of its broader effort to expand access to investment solutions and build a digitally enabled financial ecosystem that integrates everyday banking and investing.
