Nifty Bank index funds compared
20 plans that track the Nifty Bank index, compared on cost and how closely they follow it. Data as of 5 Nov 2026.
Direct plans (10)
| Fund | Rating | Expense ratio | Tracking difference, 1Y | Tracking error, 1Y | 1Y return | AUM |
|---|---|---|---|---|---|---|
| ICICI Prudential Nifty Bank Index FundICICI Prudential Mutual Fund | A+ | 0.22% | -0.24% | 0.05% | 0.3% | ₹778 cr |
| Axis Nifty Bank Index FundAxis Mutual Fund | A | 0.23% | -0.26% | 0.06% | 0.3% | ₹181 cr |
| Navi Nifty Bank Index FundNavi Mutual Fund | A | 0.23% | -0.29% | 0.06% | 0.3% | ₹640 cr |
| SBI Nifty Bank Index FundSBI Mutual Fund | B | 0.31% | -0.17% | 0.12% | 0.4% | ₹205 cr |
| DSP Nifty Bank Index FundDSP Mutual Fund | B | 0.27% | -0.28% | 0.06% | 0.3% | ₹64 cr |
| Motilal Oswal Nifty Bank Index FundMotilal Oswal Mutual Fund | B | 0.32% | -0.33% | 0.04% | 0.2% | ₹668 cr |
| Bandhan Nifty Bank Index FundBandhan Mutual Fund | C | 0.34% | -0.40% | 0.04% | 0.2% | ₹21 cr |
| Nippon India Nifty Bank Index FundNippon India Mutual Fund | C | 0.31% | -0.37% | 0.07% | 0.2% | ₹227 cr |
| Invesco India Nifty Bank Index FundInvesco Mutual Fund | – | 0.62% | –% | –% | – | ₹31 cr |
| Kotak Nifty Bank Index FundKotak Mahindra Mutual Fund | – | 0.98% | –% | –% | – | ₹3 cr |
Regular plans (10)
| Fund | Rating | Expense ratio | Tracking difference, 1Y | Tracking error, 1Y | 1Y return | AUM |
|---|---|---|---|---|---|---|
| ICICI Prudential Nifty Bank Index FundICICI Prudential Mutual Fund | A+ | 0.82% | -0.85% | 0.06% | -0.3% | ₹778 cr |
| SBI Nifty Bank Index FundSBI Mutual Fund | A | 0.73% | -0.63% | 0.12% | -0.1% | ₹205 cr |
| DSP Nifty Bank Index FundDSP Mutual Fund | A | 0.99% | -0.96% | 0.07% | -0.4% | ₹64 cr |
| Motilal Oswal Nifty Bank Index FundMotilal Oswal Mutual Fund | B | 1.06% | -1.11% | 0.05% | -0.5% | ₹668 cr |
| Nippon India Nifty Bank Index FundNippon India Mutual Fund | B | 0.90% | -0.97% | 0.07% | -0.4% | ₹227 cr |
| Axis Nifty Bank Index FundAxis Mutual Fund | B | 1.10% | -1.10% | 0.07% | -0.5% | ₹181 cr |
| Bandhan Nifty Bank Index FundBandhan Mutual Fund | C | 1.14% | -1.21% | 0.06% | -0.6% | ₹21 cr |
| Navi Nifty Bank Index FundNavi Mutual Fund | C | 1.11% | -1.13% | 0.07% | -0.6% | ₹640 cr |
| Invesco India Nifty Bank Index FundInvesco Mutual Fund | – | 1.22% | –% | –% | – | ₹31 cr |
| Kotak Nifty Bank Index FundKotak Mahindra Mutual Fund | – | 1.31% | –% | –% | – | ₹3 cr |
Common questions
How many Nifty Bank index funds are there?
10 schemes track the Nifty Bank index, with 20 plans (Regular and Direct), as of 5 Nov 2026.
Which Nifty Bank index fund has the lowest tracking error?
Among Direct plans, Motilal Oswal Nifty Bank Index Fund had the lowest 1-year tracking error, 0.04%, as of 5 Nov 2026. Tracking error measures how closely the fund follows the index day to day.
Which Nifty Bank index fund has the lowest expense ratio?
Among Direct plans, ICICI Prudential Nifty Bank Index Fund at 0.22% a year, as of 5 Nov 2026.
How do you choose between index funds on the same index?
They hold the same stocks, so look at cost (expense ratio), how closely they track (tracking difference and tracking error) and size (AUM, for smooth trading). Our rating weighs those in that order.
Ratings describe past tracking and cost, not a recommendation. Read the scheme documents before investing.