How to Open a Jio Payment Bank Account? Check eligibility and important details

Do you want to open your Jio Payment Banks account? Jio Payments Bank is a bank that offers a range of banking services to account holders. Jio payment banks give a convenient banking experience to account holders. The residents of India, having an age above 18 years old, are eligible for a Jio payment bank account. This bank account opening process includes a paperless process and zero minimum balance requirements, which attracts people to open this account and handle their payments conveniently.

This bank aims to make payments digital and provide a hassle-free experience to people. Jio payment bank accounts are linked with the MyJio app and allow you to access account details and transactions easily. In fact, this bank account also comes with a range of features and benefits. If you also want to open a Jio payment bank account, you should meet the eligibility criteria.

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Jio Payment Bank Account Overview

Here are the important details you should know before opening your Jio Payment Bank Account

Type of BankPayments Bank
Founded2018
HeadquartersNavi Mumbai, India
Parent CompanyReliance Industries Limited
Websitehttps://jiopaymentsbank.com/
Account OpeningThrough MyJio App or Jio Payments Bank outlets
Interest on Savings Account3.25% p.a. on balances up to ₹1 lakh, 3.5% p.a. on balances above ₹1 lakh
Debit CardYes (Visa)
ATM AccessYes, on Reliance Jio ATMs and other partner ATMs (charges may apply)
Money TransferFree up to ₹10,000 per month in Jio Payments Bank, and charges apply for other banks.
Recharges & Bill PaymentsAvailable for various services
BranchesOver 800 Jio Payments Bank outlets across India

Features of Jio Payment Bank account

Jio Payment bank accounts give exclusive features to customers and help them to meet their banking needs. Here are the highlights of Jio Payment bank accounts that ensure a good experience for accountholders

General Features

  • You can easily open your Jio Payment bank accounts with your Aadhar card. There is no more paperwork required while applying for this bank account.
  • You can open your account easily without maintaining the minimum balance.
  • Jio Payment bank accounts allow free money transfers to account holders. It means you can easily send and receive money by IMPS, NEFT or UPI in India.
  • You can also make payments for water bills, electricity, mobile recharge, etc., by using the MyJio app and linking your account with it.
  • After opening a Jio Payment bank account, you can get your Jio debit card and do online and offline shopping easily.
  • The good thing is that you can also earn interest with your Jio Payment bank accounts.
  • By using the Myjio app, you can easily access your account statements and transaction history.

Additional features

  • After opening your Jio Payment bank accounts, you can get your online debit card or physical card for online and offline payments.
  • It allows you to withdraw money easily from your nearby ATM
  • You can easily conduct banking transactions at retail outlets of JIO without using an ATM
  • Jio Payment bank accounts also help you to get direct benefits transfers, including government subsidies, etc
  • You can schedule your automatic bill payment and transfers at Jio Payment bank accounts

Jio Payment bank account eligibility

If you want to open your Jio Payment bank accounts, then there are some requirements you should meet as follows as

Basic requirements

  • You should be Indian citizens
  • You must be 18 years old
  • You should have an Aadhar card whether you are going to open your Jio Payment bank accounts offline or online.
  • You may also need a PAN card if you are going to open your account online for transactions of more than 2 lakh per month.

Additional requirements

  • The individuals who have Jio SIM linked with their Aadhar card are only able to apply for Jio Payment bank accounts.
  • Minors are unable to open their account directly. For this, they should open their account on behalf of their parents or legal guardians.

How to open Jio Payment bank accounts

If you want to open Jio Payment bank accounts for hassle-free payments online and get the benefits of the above features, then here are the steps to help you

  • You should download and install the MyJio app on your phone
  • Open MyJio app and move to bank tab
  • Click on open new account option , and then select savings account.
  • Now, enter your Aadhar card number and finish the E-KYC process
  • Next, you should follow the on-screen instructions regarding MPIN, Mobile banking personal identification number
  • Then, you should verify your email address and mobile number
  • Up on the verification, your Jio Payment bank accounts are activated, and you can use them for smooth transactions

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