Liquid funds in India
84 plans (43 Regular, 41 Direct), rated on their track record against the median fund in their category and their peers. Data as of 8 Nov 2026.
Where most people keep their emergency fund and short-term cash: returns close to short-term rates, withdrawals usually the next working day. Funds differ in cost and in how careful they are with credit. SEBI requires liquid funds to hold debt and money market securities maturing within about three months.
₹11.0 lakh
The difference, on ₹10 lakh invested three years ago, between the strongest liquid fund (6.9% a year) and the weakest (-50.5% a year). Same category, same SEBI rules, same market. 23 of 35 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 (43)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Bank Of India Liquid FundBank of India Mutual Fund · 18.3 yrs | A+ | 6.9% | +0.2% | 0.15% | ₹2,325 cr |
| Union Liquid FundUnion Mutual Fund · 15.4 yrs | A+ | 6.8% | +0.1% | 0.17% | ₹6,746 cr |
| Canara Robeco Liquid FundCanara Robeco Mutual Fund · 18.3 yrs | A+ | 6.8% | +0.1% | 0.17% | ₹6,083 cr |
| DSP Liquid FundDSP Mutual Fund · 20.6 yrs | A | 6.8% | +0.1% | 0.23% | ₹24,387 cr |
| Invesco India Liquid FundInvesco Mutual Fund · 20.0 yrs | A | 6.8% | +0.1% | 0.22% | ₹21,272 cr |
| Axis Liquid FundAxis Mutual Fund · 17.1 yrs | A | 6.9% | +0.1% | 0.26% | ₹53,761 cr |
| PGIM India Liquid FundPGIM India Mutual Fund · 10.7 yrs | A | 6.8% | +0.1% | 0.22% | ₹1,773 cr |
| Edelweiss Liquid FundEdelweiss Mutual Fund · 9.9 yrs | A | 6.8% | +0.1% | 0.19% | ₹17,827 cr |
| Baroda BNP Paribas Liquid FundBaroda BNP Paribas Mutual Fund · 20.6 yrs | A | 6.8% | +0.0% | 0.16% | ₹14,176 cr |
| HSBC Liquid FundHSBC Mutual Fund · 13.9 yrs | A | 6.8% | +0.1% | 0.22% | ₹22,956 cr |
| LIC MF Liquid FundLIC Mutual Fund · 20.6 yrs | A | 6.8% | +0.1% | 0.20% | ₹13,842 cr |
| Mirae Asset Liquid FundMirae Asset Mutual Fund · 17.8 yrs | B | 6.8% | +0.1% | 0.20% | ₹16,728 cr |
| Mahindra Manulife Liquid FundMahindra Manulife Mutual Fund · 10.3 yrs | B | 6.8% | +0.1% | 0.26% | ₹1,337 cr |
| Tata Liquid FundTata Mutual Fund · 20.6 yrs | B | 6.8% | +0.1% | 0.32% | ₹31,532 cr |
| Groww Liquid FundGroww Mutual Fund · 15.0 yrs | B | 6.8% | +0.1% | 0.21% | ₹314 cr |
| HDFC Liquid FundHDFC Mutual Fund · 20.6 yrs | B | 6.8% | +0.1% | 0.30% | ₹71,070 cr |
| ICICI Prudential Liquid Fund -ICICI Prudential Mutual Fund · 20.6 yrs | B | 6.8% | +0.1% | 0.30% | ₹57,662 cr |
| Bajaj Finserv Liquid FundBajaj Finserv Mutual Fund · 3.3 yrs | B | 6.7% | +0.0% | 0.28% | ₹7,590 cr |
| UTI - Liquid FundUTI Mutual Fund · 20.6 yrs | B | -50.5% | -57.2% | 0.25% | ₹33,576 cr |
| SBI Liquid FundSBI Mutual Fund · 19.6 yrs | B | 6.8% | +0.0% | 0.29% | ₹90,198 cr |
| Aditya Birla Sun Life Liquid FundAditya Birla Sun Life Mutual Fund · 20.6 yrs | B | 6.8% | +0.1% | 0.35% | ₹62,305 cr |
| Parag Parikh Liquid FundPPFAS Mutual Fund · 8.5 yrs | B | 6.6% | -0.2% | 0.21% | ₹5,396 cr |
| BANDHAN LIQUID FundBandhan Mutual Fund · 18.4 yrs | B | 6.7% | +0.0% | 0.23% | ₹16,685 cr |
| TRUSTMF Liquid FundTrust Mutual Fund · 5.5 yrs | B | 6.7% | -0.1% | 0.25% | ₹1,225 cr |
| Kotak Liquid FundKotak Mahindra Mutual Fund · 20.6 yrs | B | 6.8% | +0.1% | 0.33% | ₹46,514 cr |
| Franklin India Liquid FundFranklin Templeton Mutual Fund · 20.6 yrs | C | 6.2% | -0.5% | 0.20% | ₹5,197 cr |
| JM Liquid FundJM Financial Mutual Fund · 20.6 yrs | C | 6.7% | -0.0% | 0.26% | ₹1,386 cr |
| WhiteOak Capital Liquid FundWhiteOak Capital Mutual Fund · 7.8 yrs | C | 6.7% | -0.0% | 0.24% | ₹800 cr |
| Sundaram Liquid Fund (Formerly Known as Principal Cash Management Fund)Sundaram Mutual Fund · 4.9 yrs | C | 6.8% | +0.0% | 0.36% | ₹7,134 cr |
| ITI Liquid FundITI Mutual Fund · 7.5 yrs | C | 6.5% | -0.2% | 0.24% | ₹63 cr |
| Quantum Liquid FundQuantum Mutual Fund · 9.6 yrs | C | 6.4% | -0.4% | 0.26% | ₹545 cr |
| Navi Liquid FundNavi Mutual Fund · 16.7 yrs | C | 6.3% | -0.4% | 0.32% | ₹81 cr |
| Quant Liquid Fundquant Mutual Fund · 20.6 yrs | C | 6.4% | -0.3% | 0.57% | ₹1,290 cr |
| 360 ONE Liquid Fund360 ONE Mutual Fund · 13.0 yrs | C | 6.6% | -0.1% | 0.35% | ₹583 cr |
| Nippon India Liquid FundNippon India Mutual Fund · 20.6 yrs | C | 6.5% | -0.2% | 0.38% | ₹41,167 cr |
| ASK Liquid FundASK MUTUAL FUND · 0.2 yrs | – | – | – | 0.27% | ₹386 cr |
| Abakkus Liquid FundAbakkus Mutual Fund · 0.9 yrs | – | – | – | 0.29% | ₹685 cr |
| Capitalmind Liquid FundCapitalmind Mutual Fund · 0.9 yrs | – | – | – | 0.29% | ₹124 cr |
| Carnelian Liquid FundCarnelian Mutual Fund · 0.1 yrs | – | – | – | 0.25% | – |
| JioBlackRock Liquid FundJio BlackRock Mutual Fund · 0.2 yrs | – | – | – | 0.26% | ₹10,899 cr |
| Shriram Liquid FundShriram Mutual Fund · 2.0 yrs | – | – | – | 0.29% | ₹479 cr |
| The Wealth Company Liquid FundThe Wealth Company Mutual Fund · 1.1 yrs | – | – | – | 0.27% | ₹675 cr |
| Unifi Liquid FundUnifi Mutual Fund · 1.4 yrs | – | – | – | 0.15% | ₹23 cr |
Direct plans (41)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Union Liquid FundUnion Mutual Fund · 13.9 yrs | A+ | 6.9% | +0.1% | 0.07% | ₹6,746 cr |
| Bajaj Finserv Liquid FundBajaj Finserv Mutual Fund · 3.3 yrs | A+ | 6.9% | +0.1% | 0.08% | ₹7,590 cr |
| Edelweiss Liquid FundEdelweiss Mutual Fund · 9.9 yrs | A+ | 7.0% | +0.1% | 0.11% | ₹17,827 cr |
| PGIM India Liquid FundPGIM India Mutual Fund · 10.7 yrs | A+ | 6.9% | +0.1% | 0.11% | ₹1,773 cr |
| Axis Liquid FundAxis Mutual Fund · 13.9 yrs | A | 7.0% | +0.1% | 0.15% | ₹53,761 cr |
| Bank Of India Liquid FundBank of India Mutual Fund · 13.9 yrs | A | 6.9% | +0.1% | 0.09% | ₹2,325 cr |
| Canara Robeco Liquid FundCanara Robeco Mutual Fund · 13.9 yrs | A | 6.9% | +0.0% | 0.08% | ₹6,083 cr |
| DSP Liquid FundDSP Mutual Fund · 13.9 yrs | A | 6.9% | +0.1% | 0.14% | ₹24,387 cr |
| Mahindra Manulife Liquid FundMahindra Manulife Mutual Fund · 10.3 yrs | A | 6.9% | +0.1% | 0.15% | ₹1,337 cr |
| Franklin India Liquid FundFranklin Templeton Mutual Fund · 13.9 yrs | A | 7.0% | +0.1% | 0.14% | ₹5,197 cr |
| Sundaram Liquid Fund (Formerly Known as Principal Cash Management Fund)Sundaram Mutual Fund · 4.9 yrs | A | 7.0% | +0.1% | 0.14% | ₹7,134 cr |
| UTI - Liquid FundUTI Mutual Fund · 13.9 yrs | B | -50.4% | -57.2% | 0.15% | ₹33,576 cr |
| Baroda BNP Paribas Liquid FundBaroda BNP Paribas Mutual Fund · 13.9 yrs | B | 6.9% | 0.0% | 0.08% | ₹14,176 cr |
| Mirae Asset Liquid FundMirae Asset Mutual Fund · 13.8 yrs | B | 6.9% | +0.0% | 0.09% | ₹16,728 cr |
| Tata Liquid FundTata Mutual Fund · 13.8 yrs | B | 6.9% | +0.1% | 0.18% | ₹31,532 cr |
| BANDHAN LIQUID FundBandhan Mutual Fund · 13.9 yrs | B | 6.9% | +0.0% | 0.07% | ₹16,685 cr |
| Nippon India Liquid FundNippon India Mutual Fund · 13.9 yrs | B | 6.9% | +0.1% | 0.20% | ₹41,167 cr |
| LIC MF Liquid FundLIC Mutual Fund · 13.9 yrs | B | 6.9% | +0.0% | 0.13% | ₹13,842 cr |
| Aditya Birla Sun Life Liquid FundAditya Birla Sun Life Mutual Fund · 13.9 yrs | B | 7.0% | +0.1% | 0.21% | ₹62,305 cr |
| Groww Liquid FundGroww Mutual Fund · 13.9 yrs | B | 7.0% | +0.1% | 0.11% | ₹314 cr |
| Invesco India Liquid FundInvesco Mutual Fund · 13.9 yrs | B | 6.9% | +0.0% | 0.15% | ₹21,272 cr |
| Kotak Liquid FundKotak Mahindra Mutual Fund · 13.9 yrs | B | 6.9% | +0.0% | 0.15% | ₹46,514 cr |
| Parag Parikh Liquid FundPPFAS Mutual Fund · 8.5 yrs | B | 6.7% | -0.2% | 0.11% | ₹5,396 cr |
| TRUSTMF Liquid FundTrust Mutual Fund · 5.5 yrs | B | 6.8% | -0.0% | 0.10% | ₹1,225 cr |
| ICICI Prudential Liquid Fund -ICICI Prudential Mutual Fund · 13.9 yrs | C | 6.9% | +0.0% | 0.20% | ₹57,662 cr |
| SBI Liquid FundSBI Mutual Fund · 13.9 yrs | C | 6.9% | -0.0% | 0.20% | ₹90,198 cr |
| HDFC Liquid FundHDFC Mutual Fund · 13.9 yrs | C | 6.9% | +0.0% | 0.20% | ₹71,070 cr |
| Quantum Liquid FundQuantum Mutual Fund · 20.6 yrs | C | 6.5% | -0.4% | 0.15% | ₹545 cr |
| JM Liquid FundJM Financial Mutual Fund · 13.9 yrs | C | 6.8% | -0.1% | 0.16% | ₹1,386 cr |
| WhiteOak Capital Liquid FundWhiteOak Capital Mutual Fund · 7.8 yrs | C | 6.8% | -0.1% | 0.14% | ₹800 cr |
| Quant Liquid Fundquant Mutual Fund · 13.8 yrs | C | 6.7% | -0.2% | 0.31% | ₹1,290 cr |
| ITI Liquid FundITI Mutual Fund · 7.5 yrs | C | 6.7% | -0.2% | 0.16% | ₹63 cr |
| 360 ONE Liquid Fund360 ONE Mutual Fund · 13.0 yrs | C | 6.7% | -0.2% | 0.23% | ₹583 cr |
| ASK Liquid FundASK MUTUAL FUND · 0.2 yrs | – | – | – | 0.12% | ₹386 cr |
| Abakkus Liquid FundAbakkus Mutual Fund · 0.9 yrs | – | – | – | 0.21% | ₹685 cr |
| Capitalmind Liquid FundCapitalmind Mutual Fund · 0.9 yrs | – | – | – | 0.09% | ₹124 cr |
| Carnelian Liquid FundCarnelian Mutual Fund · 0.1 yrs | – | – | – | 0.18% | – |
| JioBlackRock Liquid FundJio BlackRock Mutual Fund · 1.3 yrs | – | – | – | 0.13% | ₹10,899 cr |
| Shriram Liquid FundShriram Mutual Fund · 2.0 yrs | – | – | – | 0.16% | ₹479 cr |
| The Wealth Company Liquid FundThe Wealth Company Mutual Fund · 1.1 yrs | – | – | – | 0.10% | ₹675 cr |
| Unifi Liquid FundUnifi Mutual Fund · 1.4 yrs | – | – | – | 0.09% | ₹23 cr |
Common questions
What does a liquid fund invest in?
SEBI requires liquid funds to hold debt and money market securities maturing within about three months.
How many liquid funds beat their index over 3 years?
23 of 35 liquid 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.