After Airtel, Paytm, India Post and Fino Payments bank now Jio is going to launch their Payments bank in April 2018. Jio Payment Bank is a joint venture between Reliance Industries and State Bank of India. So guys soon you will be able to transfer your account balance to Jio’s bank to earn interest and avail exciting offers. Scroll down to know more.
What is Payments Bank?
Payments bank is a new model of banks conceptualised by the Reserve Bank of India (RBI). Currently, account holders of this bank can deposit Upto Rs 1 lakh in a Savings account and may be increased later. There is no loans and credit cards facility. The services provided by payments bank are ATM cards, debit cards, Internet-banking and mobile-banking etc.
Download Jio Payment Bank App
In order to create/ open an account online, you need to download an app “JioMoney App” which will be available on PlayStore after the official launch. Now install and open the app and proceed for registration.
Any Indian resident above 18 years of age can open a Jio Payments Bank account.
How to Open a Jio Payment Bank Savings Account?
- Enjoy banking services through your phone app i,e, JioMoney App or at Jio’s banking outlets
- After downloading the app, you have to log in using Jio number.
- Now just link your Aadhaar card to complete the verification process.
- Enter PAN card details
- Your savings account will be ready within few hours.
Quick Account Opening: Open your savings account in few minutes. No paperwork required.
All Operators: Works with any telecom operator on 2G/3G/4G Networks.
Exciting Offers: Get exclusive deals and discounts from your favourite brands. Offers details will be available at jiopaymentsbank.com
How to Get a Debit Card?
No debit cards will be issued by Jio Payments Bank
Interest Rates & Charges
The rates, charges, fees, convenience fees, penalties etc. for the services shall be subject to the consumer terms agreed by the consumer and as published by the Bank time to time on its official website and/or mobile app and/or as communicated by Bank to the consumer time to time on the email ID of the Consumer or on its mobile number through SMS.
Jio Bank’s Branches/ Outlets
Jio Payments Bank Outlets coming soon at over 70000 locations
You just require an Aadhaar Card and PAN Card to open a Jio Payment Bank account.
Frequently Asked Questions (FAQ)
What is the minimum balance I need to keep in my Jio Payments Bank account?
- There is no minimum balance requirement for Jio Payments Bank account.
Are there any charges/fees for using Bank account?
- There are no charges or fees for your Jio Payments Bank account.
Are there any penalties if the account is inactive?
- No. There are no penalties if the account is inactive.
Can I link other bank accounts to my Jio Payments Bank account?
- Yes, you can link your bank accounts using UPI or Debit/ Credit Card
How Secure is My Jio Payments Bank Account?
- Your Jio Payments Bank account is protected from un-authorized access by requiring password and mPIN to access your account. This ensures that your account is secure even if you lose access to your phone. In case you are transacting at any of Jio’s outlets, you will need to authenticate using your fingerprint, which will prevent any kind of unauthorised access to the account.
Is my money safe if I lose my phone?
- Yes, your money is always safe with Jio Payments Bank, even if you lose your registered mobile number since only you can access your account through your own biometric or M-Pin details.
Can someone withdraw money from my Jio Payments Bank account if that person knows my account and mobile number?
- No. Only you can access your account through your own biometric or M-PIN details.
From where I can get a UPI Handle for my account?
- As soon as you open a Jio Payments Bank account, you will get a UPI handle. You can define your own UPI handle while opening your account.
Can I withdraw money from any Jio Point of do I need to visit the home outlet?
Is it necessary to have a Jio number to open a Jio Payments Bank account?
- No. You can open a Jio Payments Bank account even without a Jio number
Is it necessary to have a smartphone for operating my Jio Payments Bank account?
- No. You don’t need a smartphone to operate Jio Payments Bank account. You can bank with Jio at any of Jio’s outlets.
I have a Jio Payments Bank Savings account. Will I be issued a Debit Card?
- No debit cards will be issued by Jio Payments Bank
Is there a hotline number, where I can call to Freeze my Jio Payments Bank account?
- Yes. You can freeze your account by calling us at 1800 891 9999.