Have You Heard About The Jio Payments Bank? Well, here on this page we got you covered. From beginning to end we will tell you what Jio Payment Bank is and what are its features, How you can open account in Jio Payments bank, Interest Rate, Required documents and many more.
Welcome to www.Jio.Services (Information Updated – August 2019)
Latest Update – Jio Payment Bank is now fully live. The Reserve Bank of India (RBI) said that Jio Payments Bank has begun its banking services from Tuesday.
“Jio Payments Bank Limited has commenced operations as a payments bank with effect from April 3, 2018,” RBI said in a notification.
Jio Payment Bank Basic Information
|Service||Jio Payments Bank Ltd.|
|Location||Coming Soon, Over 70,000 Places|
|Board of Directors||Dr. Vivek Bhandari, H Srikrishnan, Alok Agarwal, Manju Agarwal, Rajendra Kumar Saraf, Manisha Girotra, Ketan Dalal|
|Helpline Number||1800 891 9999|
Jio Payment Bank Launch Date – August 2019
Welcome to www.Jio.services, As we all know that after Airtel, Paytm & other payment banks, Jio has now stepped into the Payments Bank market and they’ve finally launched their Jio Payment Bank in April 2018.
People who don’t know can be shocked buy knowing that the Reliance Industries Limited (RIL) has got the approval in order to settle the payments bank in 2015 and they are one of the 15 applicants who has applied.
Jio Payment Bank is a joint venture between Reliance Industries and State Bank of India. What can I do with Jio Payment Bank? Well, the most beneficial feature will be the transferring account balance to Jio bank in order to gain interest and avail other given offers.
Reliance Jio & SBI Joint Venture
Jio Payment Bank is under (70:30 ratio) between the SBI and Reliance Ind. Both the industries can easily reach to crores of people in India because The Reliance had 12.9 crore customers and on the other hand, SBI had a total of 42 crore customers (As of April 1, 2017).
You Must Be Wondering What Is Jio Payments Bank?
Payment banks are the other form of banks in which they didn’t have to full access or you can say full license for doing the banking operations.
Jio Payment Bank Loan?
The RBI had introduced the payments banks facilities in order to implement the services to improve financial inclusion by offering low-cost banking.
What Are The Major Benefits In Jio Payments Bank Account?
Quick Account Opening In Jio Payment Bank
Here in this option, Anyone who wants to have a Jio Payment Bank Savings account can get one in few minutes. The best thing? Well, in order to open a Savings Account In Jio Payment Bank, There is not any physical paperwork required.
Jio Payment Bank Works With All Operators
The biggest benefit of this service is that you can access the facilities with all operators. Because this works with any telecom operator, doesn’t matter if you’re using a 2G/3G/4G Network, It will work fine.
Get exclusive deals and discounts from your favourite brands. Offers details will be available at jiopaymentsbank.com
How To Get Jio Payment Bank Debit Card?
No Jio Payment Bank Debit Cards will be issued by Jio Payments Bank, They can easily accept the deposits up to 1,00,000/- INR [1 Lakh]. But on the other hand, They are not allowed to offer loans to their customers.
How Jio Payment Bank Will Impact On Other Competitors
As now you know that Jio Payments Bank is finally live and it can easily make the things even more hard for their competitors like – Airtel and Paytm.
|Airtel Payment Bank||PAYTM|
|Airtel Payment Bank has suffered from the BAN which is a temporarily. Because they have conduct Aadhar based KYC process for alleged abuse of regulations.||While on the other side, The Paytm is facing some high competition from some of their other several business verticals.|
What Are The Key Features Of Payment Bank? – August 2019
- The person who has the Aadhaar Card & PAN Card can easily open an account in the Jio Payments Bank
- The facility of taking loans or credit cards cannot be done in Payment banks.
- The Payments banks can give interest rate as per the wish.
- The max limit of deposit is not more the INR 1 Lakh.
- The Payments bank can give the virtual as well as the physical debit card (not in Jio Payments Bank).
- People can easily open a current account OR saving account in the Payments banks.
Eligibility To Open Jio Payments Bank Account
Every new service from any organisation comes with eligibility criteria. In which, If a member or customer fulfil the requirement of the companies criteria. Then he/she will be eligible to get access to the product or a new service.
In the newly announced Jio Payments Bank, The eligibility criteria are so minor. If the person is an Indian resident and he/she is above 18 years of age Then he/she can easily Open Jio Payments Bank Account if they have Aadhar and PAN Card.
Jio wallet will transfer to Jio Payment bank
Reliance Jio has announced the closure of his wallet (Jio money). You can read more about it HERE. So, the Reliance Jio has started sending SMS to their customers that:
Dear Customer, your JioMoney account will be transferred from Reliance Payment Solutions Ltd to Jio Payments Bank Ltd on 14.03.2018. Please provide your approval to continue using our services.
Jio Payment Bank Interest Rate – August 2019
In the Jio Payments Bank, rates, fees, convenience fees, penalties, charges 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.
How To Download Jio Payment Bank App
There is no official app as of now, But we all know that if you are using the Android smartphone, you can easily download the application by visiting Google Play Store and if you are using an IOS device then it will be available on the App Store.
Required Documents To Open Jio Payments Bank Account – August 2019
The KYC documents are the most important documents while opening an account in banks. So, in order to approve your Jio Payment Bank Savings Account OR Jio Payment Bank Current Account, You just have to provide your Aadhaar Card and PAN Card.
Step to Open Jio Payment Bank Savings Account – August 2019
- Download the Jio Payment Bank App.
- After installation, complete the login process using your registered Jio Mobile Number.
- As we told you, Payment banks cannot be open without Aadhar Card & PAN Card. So, the next step will be seeding your Aadhar Number & Your PAN Card Number with the app.
- After successful verification, The Savings/Current Jio Payment Bank Account will be credited in next couple hours.
- Once all done, verify your e-KYC documents.
Jio Payment Bank Branches In India
As per officials, All the Jio Payments Bank Branches/Outlets are coming soon at over 70,000 locations. Let see how and when some of the major cities & places will get the Jio Payment Bank Branches in – Nagpur, Nashik, Mussoorie, Karnal, Kanpur, Jodhpur, Jalandhar, Jaipur, Jabalpur, Indore, Hyderabad, Gwalior, Guwahati, Ahmedabad, Vizag, Vijaywada, Varanasi, Vadodara, Udaipur, Chandigarh, Bikaner, Cuttack, Bhubaneswar, Bhopal, Bhiwadi, Bhilwara, Bhilai, Bangalore, Aurangabad, Anand, Ambala, Noida Extn., Noida, Agra, Trichy, Surat, Sonepat, Shimla, Salem, Roorkee, Laxmi Nagar, Rohtak, Pondicherry, Patna, Panipat, Gurgaon, Ranchi, Rajkot, Raipur, Pune, Greater Noida, Goa, Ghaziabad, Gandhinagar, Faridabad, Durg, Delhi, Dehradun, Mumbai, Sas Nagar, Mohali, Mehsana, Meerut, Madurai, Ludhiana, Lucknow, Kozhikode, Kota, Kolkata, Kolhapur, Cochin, Coimbatore, Chennai.
How You Can Access Your Account?
As officials said, Now you can deposit/withdraw money from your Jio Payments Bank account without filling any form, carrying passbook or visiting ATM. Just visit the nearest Jio Payments Bank outlet.
Final Words For Jio Payment Bank
Having stepped into the telecom sector, Jio has made its base very strong. With its free voice calls and data, its user base has grown significantly.
Now when the company has entered into the field of payment banking. It is believed that competition can also be interesting in payment banking.
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