Gilt funds in India
46 plans (23 Regular, 23 Direct), rated on their track record against the median fund in their category and their peers. Data as of 8 Nov 2026.
Government bonds: no credit risk, but prices move with interest rates, sometimes sharply. SEBI requires gilt funds to invest at least 80% in government securities, which carry no credit risk.
The difference, on ₹10 lakh invested three years ago, between the strongest gilt fund (7.4% a year) and the weakest (4.6% a year). Same category, same SEBI rules, same market. 9 of 21 funds beat the median fund in their category over the same period.
Regular plans, to the latest NAV. Past returns, not a forecast.
Regular plans (23)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Baroda BNP Paribas Gilt FundBaroda BNP Paribas Mutual Fund · 20.6 yrs | A+ | 6.3% | +0.6% | 0.44% | ₹493 cr |
| Axis Gilt FundAxis Mutual Fund · 14.8 yrs | A+ | 6.9% | +1.2% | 0.89% | ₹367 cr |
| SBI Gilt FundSBI Mutual Fund · 20.6 yrs | A+ | 6.1% | +0.4% | 1.00% | ₹7,984 cr |
| UTI - Gilt FundUTI Mutual Fund · 20.6 yrs | A | 6.3% | +0.6% | 0.85% | ₹408 cr |
| ICICI Prudential Gilt FundICICI Prudential Mutual Fund · 20.6 yrs | A | 6.3% | +0.6% | 1.11% | ₹8,966 cr |
| HDFC Gilt FundHDFC Mutual Fund · 20.6 yrs | A | 5.8% | +0.1% | 0.82% | ₹1,772 cr |
| Franklin India Gilt FundFranklin Templeton Mutual Fund · 20.6 yrs | B | 5.6% | -0.1% | 1.22% | ₹144 cr |
| Bandhan Gilt FundBandhan Mutual Fund · 17.9 yrs | B | 7.4% | +1.8% | 1.20% | ₹1,660 cr |
| Nippon India Gilt FundNippon India Mutual Fund · 18.2 yrs | B | 5.7% | +0.0% | 1.21% | ₹1,385 cr |
| Edelweiss Gilt FundEdelweiss Mutual Fund · 9.9 yrs | B | 5.3% | -0.4% | 1.15% | ₹117 cr |
| DSP Gilt FundDSP Mutual Fund · 20.6 yrs | B | 5.8% | +0.1% | 1.18% | ₹1,059 cr |
| PGIM India Gilt FundPGIM India Mutual Fund · 10.7 yrs | B | 5.2% | -0.5% | 1.42% | ₹83 cr |
| Invesco India Gilt FundInvesco Mutual Fund · 18.7 yrs | B | 5.7% | -0.0% | 1.25% | ₹98 cr |
| Canara Robeco Gilt FundCanara Robeco Mutual Fund · 20.6 yrs | B | 5.3% | -0.4% | 1.23% | ₹109 cr |
| Aditya Birla Sun Life Gilt FundAditya Birla Sun Life Mutual Fund · 20.6 yrs | B | 4.9% | -0.8% | 1.16% | ₹1,056 cr |
| quant Gilt Fundquant Mutual Fund · 3.9 yrs | C | 4.8% | -0.9% | 1.51% | ₹71 cr |
| LIC MF Gilt FundLIC Mutual Fund · 20.6 yrs | C | 5.0% | -0.7% | 1.10% | ₹43 cr |
| Tata Gilt FundTata Mutual Fund · 20.6 yrs | C | 5.2% | -0.5% | 1.32% | ₹671 cr |
| Union Gilt FundUnion Mutual Fund · 4.2 yrs | C | 4.6% | -1.1% | 1.08% | ₹73 cr |
| Kotak Gilt FundKotak Mahindra Mutual Fund · 20.6 yrs | C | 4.7% | -0.9% | 1.49% | – |
| HSBC Gilt FundHSBC Mutual Fund · 3.9 yrs | C | 4.7% | -1.0% | 1.60% | ₹149 cr |
| Bajaj Finserv Gilt FundBajaj Finserv Mutual Fund · 1.8 yrs | – | – | – | 1.35% | ₹32 cr |
| Groww Gilt FundGroww Mutual Fund · 1.5 yrs | – | – | – | 1.68% | ₹33 cr |
Direct plans (23)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Baroda BNP Paribas Gilt FundBaroda BNP Paribas Mutual Fund · 13.8 yrs | A+ | 6.6% | +0.2% | 0.17% | ₹493 cr |
| Axis Gilt FundAxis Mutual Fund · 13.8 yrs | A+ | 7.2% | +0.9% | 0.46% | ₹367 cr |
| SBI Gilt FundSBI Mutual Fund · 13.8 yrs | A+ | 6.6% | +0.2% | 0.50% | ₹7,984 cr |
| ICICI Prudential Gilt FundICICI Prudential Mutual Fund · 13.8 yrs | A | 6.8% | +0.4% | 0.58% | ₹8,966 cr |
| UTI - Gilt FundUTI Mutual Fund · 13.8 yrs | A | 6.6% | +0.2% | 0.47% | ₹408 cr |
| HDFC Gilt FundHDFC Mutual Fund · 13.8 yrs | B | 6.2% | -0.2% | 0.46% | ₹1,772 cr |
| PGIM India Gilt FundPGIM India Mutual Fund · 10.7 yrs | B | 6.2% | -0.2% | 0.53% | ₹83 cr |
| Bandhan Gilt FundBandhan Mutual Fund · 13.8 yrs | B | 8.1% | +1.7% | 0.57% | ₹1,660 cr |
| Nippon India Gilt FundNippon India Mutual Fund · 13.8 yrs | B | 6.4% | -0.0% | 0.52% | ₹1,385 cr |
| Franklin India Gilt FundFranklin Templeton Mutual Fund · 13.8 yrs | B | 6.2% | -0.2% | 0.64% | ₹144 cr |
| Tata Gilt FundTata Mutual Fund · 13.8 yrs | B | 6.4% | -0.0% | 0.30% | ₹671 cr |
| quant Gilt Fundquant Mutual Fund · 3.9 yrs | B | 5.9% | -0.5% | 0.41% | ₹71 cr |
| Invesco India Gilt FundInvesco Mutual Fund · 13.8 yrs | B | 6.4% | +0.0% | 0.48% | ₹98 cr |
| Canara Robeco Gilt FundCanara Robeco Mutual Fund · 13.8 yrs | B | 6.0% | -0.4% | 0.43% | ₹109 cr |
| DSP Gilt FundDSP Mutual Fund · 13.8 yrs | B | 6.5% | +0.1% | 0.59% | ₹1,059 cr |
| Edelweiss Gilt FundEdelweiss Mutual Fund · 9.9 yrs | C | 6.0% | -0.4% | 0.51% | ₹117 cr |
| HSBC Gilt FundHSBC Mutual Fund · 3.9 yrs | C | 5.9% | -0.5% | 0.50% | ₹149 cr |
| Kotak Gilt FundKotak Mahindra Mutual Fund · 13.8 yrs | C | 5.8% | -0.6% | 0.49% | – |
| Aditya Birla Sun Life Gilt FundAditya Birla Sun Life Mutual Fund · 13.8 yrs | C | 5.6% | -0.8% | 0.51% | ₹1,056 cr |
| LIC MF Gilt FundLIC Mutual Fund · 13.8 yrs | C | 5.7% | -0.7% | 0.70% | ₹43 cr |
| Union Gilt FundUnion Mutual Fund · 4.2 yrs | C | 5.1% | -1.3% | 0.65% | ₹73 cr |
| Bajaj Finserv Gilt FundBajaj Finserv Mutual Fund · 1.8 yrs | – | – | – | 0.46% | ₹32 cr |
| Groww Gilt FundGroww Mutual Fund · 1.5 yrs | – | – | – | 0.57% | ₹33 cr |
Common questions
What does a gilt fund invest in?
SEBI requires gilt funds to invest at least 80% in government securities, which carry no credit risk.
How many gilt funds beat their index over 3 years?
9 of 21 gilt funds (Regular plans with 3 years of history) beat the median fund in their category over the 3 years to 8 Nov 2026.
How are these funds rated?
Each fund is compared only with funds in its category and plan type, on its long-run return over the index, risk-adjusted return, consistency, cost and portfolio. The ratings describe the track record so far; our own backtest found they do not predict future returns.
Ratings describe past track records and are not a recommendation to buy or sell. Read the scheme documents before investing.