Overnight funds in India
79 plans (39 Regular, 40 Direct), rated on their track record against the median fund in their category and their peers. Data as of 8 Nov 2026.
The safest place to park money for a few days: almost no interest-rate or credit risk, and returns close to the RBI's overnight rate. Funds differ mainly in cost. SEBI requires overnight funds to lend only overnight, in securities maturing the next business day.
₹0.2 lakh
The difference, on ₹10 lakh invested three years ago, between the strongest overnight fund (6.1% a year) and the weakest (5.5% a year). Same category, same SEBI rules, same market. 22 of 33 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 (39)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Axis Overnight FundAxis Mutual Fund · 7.6 yrs | A+ | 6.0% | +0.1% | 0.13% | ₹15,214 cr |
| Baroda BNP Paribas Overnight FundBaroda BNP Paribas Mutual Fund · 7.5 yrs | A+ | 5.9% | +0.0% | 0.12% | ₹912 cr |
| UTI - Overnight FundUTI Mutual Fund · 20.6 yrs | A+ | 6.0% | +0.1% | 0.14% | ₹6,028 cr |
| Franklin India Overnight FundFranklin Templeton Mutual Fund · 7.5 yrs | A+ | 6.0% | +0.1% | 0.11% | ₹984 cr |
| ICICI Prudential Overnight FundICICI Prudential Mutual Fund · 8.0 yrs | A | 5.9% | +0.0% | 0.15% | ₹13,291 cr |
| Nippon India Overnight FundNippon India Mutual Fund · 7.9 yrs | A | 5.9% | +0.0% | 0.17% | ₹7,371 cr |
| Bajaj Finserv Overnight FundBajaj Finserv Mutual Fund · 3.3 yrs | A | 6.0% | +0.1% | 0.16% | ₹1,034 cr |
| Canara Robeco Overnight FundCanara Robeco Mutual Fund · 7.3 yrs | A | 5.9% | +0.0% | 0.11% | ₹376 cr |
| HSBC Overnight FundHSBC Mutual Fund · 7.5 yrs | A | 5.9% | +0.0% | 0.14% | ₹5,780 cr |
| Invesco India Overnight FundInvesco Mutual Fund · 6.8 yrs | A | 6.0% | +0.1% | 0.14% | ₹642 cr |
| Bank Of India Overnight FundBank of India Mutual Fund · 6.8 yrs | B | 6.1% | +0.2% | 0.15% | ₹67 cr |
| DSP Overnight FundDSP Mutual Fund · 7.8 yrs | B | 5.9% | +0.0% | 0.18% | ₹2,969 cr |
| Mirae Asset Overnight FundMirae Asset Mutual Fund · 7.1 yrs | B | 5.9% | +0.0% | 0.18% | ₹1,165 cr |
| Kotak Overnight FundKotak Mahindra Mutual Fund · 7.8 yrs | B | 5.9% | +0.0% | 0.20% | ₹9,597 cr |
| SBI Overnight FundSBI Mutual Fund · 20.6 yrs | B | 5.9% | +0.0% | 0.13% | ₹35,906 cr |
| LIC MF Overnight FundLIC Mutual Fund · 7.3 yrs | B | 5.9% | +0.0% | 0.15% | ₹1,008 cr |
| BANDHAN Overnight FundBandhan Mutual Fund · 7.8 yrs | B | 5.9% | +0.0% | 0.16% | ₹1,619 cr |
| Tata Overnight FundTata Mutual Fund · 7.6 yrs | B | 5.9% | +0.0% | 0.21% | ₹7,731 cr |
| TRUSTMF Overnight FundTrust Mutual Fund · 4.8 yrs | B | 5.9% | -0.0% | 0.16% | ₹29 cr |
| PGIM India Overnight FundPGIM India Mutual Fund · 7.2 yrs | B | 5.9% | +0.0% | 0.20% | ₹76 cr |
| Edelweiss Overnight FundEdelweiss Mutual Fund · 7.3 yrs | B | 5.9% | +0.0% | 0.16% | ₹292 cr |
| Sundaram Overnight FundSundaram Mutual Fund · 7.6 yrs | B | 5.9% | -0.0% | 0.17% | ₹1,108 cr |
| quant Overnight Fundquant Mutual Fund · 3.9 yrs | B | 5.9% | +0.0% | 0.26% | ₹56 cr |
| Aditya Birla Sun Life Overnight FundAditya Birla Sun Life Mutual Fund · 8.0 yrs | B | 5.9% | -0.0% | 0.20% | ₹11,185 cr |
| Union Overnight FundUnion Mutual Fund · 7.6 yrs | C | 5.9% | +0.0% | 0.24% | ₹732 cr |
| NJ Overnight FundNJ Mutual Fund · 4.3 yrs | C | 5.8% | -0.1% | 0.17% | ₹425 cr |
| Mahindra Manulife Overnight FundMahindra Manulife Mutual Fund · 7.3 yrs | C | 5.9% | -0.0% | 0.20% | ₹95 cr |
| HDFC Overnight FundHDFC Mutual Fund · 20.6 yrs | C | 5.9% | -0.0% | 0.21% | ₹12,203 cr |
| JM Overnight FundJM Financial Mutual Fund · 6.9 yrs | C | 5.8% | -0.1% | 0.18% | ₹203 cr |
| Helios Overnight FundHelios Mutual Fund · 3.0 yrs | C | 5.8% | -0.1% | 0.25% | ₹298 cr |
| ITI Overnight FundITI Mutual Fund · 7.0 yrs | C | 5.7% | -0.2% | 0.23% | ₹14 cr |
| Groww Overnight FundGroww Mutual Fund · 7.3 yrs | C | 5.8% | -0.1% | 0.28% | ₹33 cr |
| Samco Overnight FundSamco Mutual Fund · 4.1 yrs | C | 5.5% | -0.4% | 0.42% | ₹31 cr |
| 360 ONE Overnight Fund360 ONE Mutual Fund · 1.3 yrs | – | – | – | 0.21% | ₹348 cr |
| Choice Overnight FundChoice Mutual Fund · 0.3 yrs | – | – | – | 0.22% | ₹95 cr |
| JioBlackRock Overnight FundJio BlackRock Mutual Fund · 0.9 yrs | – | – | – | 0.20% | ₹722 cr |
| Lakshya Overnight FundLakshya Mutual Fund · 0.1 yrs | – | – | – | 0.28% | ₹28 cr |
| Monarch Overnight FundMonarch Mutual Fund · 0.2 yrs | – | – | – | 0.30% | ₹100 cr |
| Shriram Overnight FundShriram Mutual Fund · 0.4 yrs | – | – | – | 0.25% | ₹67 cr |
Direct plans (40)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Kotak Overnight FundKotak Mahindra Mutual Fund · 7.8 yrs | A+ | 6.0% | +0.0% | 0.09% | ₹9,597 cr |
| Axis Overnight FundAxis Mutual Fund · 7.6 yrs | A+ | 6.0% | +0.1% | 0.09% | ₹15,214 cr |
| HSBC Overnight FundHSBC Mutual Fund · 7.5 yrs | A+ | 6.0% | +0.0% | 0.07% | ₹5,780 cr |
| Tata Overnight FundTata Mutual Fund · 7.6 yrs | A+ | 6.0% | +0.1% | 0.09% | ₹7,731 cr |
| Baroda BNP Paribas Overnight FundBaroda BNP Paribas Mutual Fund · 7.5 yrs | A | 6.0% | +0.0% | 0.08% | ₹912 cr |
| Nippon India Overnight FundNippon India Mutual Fund · 7.9 yrs | A | 6.0% | +0.1% | 0.10% | ₹7,371 cr |
| Mirae Asset Overnight FundMirae Asset Mutual Fund · 7.1 yrs | A | 6.0% | +0.0% | 0.09% | ₹1,165 cr |
| Aditya Birla Sun Life Overnight FundAditya Birla Sun Life Mutual Fund · 8.0 yrs | A | 6.0% | +0.0% | 0.05% | ₹11,185 cr |
| Bajaj Finserv Overnight FundBajaj Finserv Mutual Fund · 3.3 yrs | A | 6.0% | +0.1% | 0.11% | ₹1,034 cr |
| BANDHAN Overnight FundBandhan Mutual Fund · 7.8 yrs | A | 6.0% | +0.0% | 0.07% | ₹1,619 cr |
| DSP Overnight FundDSP Mutual Fund · 7.8 yrs | B | 6.0% | +0.0% | 0.11% | ₹2,969 cr |
| Franklin India Overnight FundFranklin Templeton Mutual Fund · 7.5 yrs | B | 6.0% | +0.0% | 0.07% | ₹984 cr |
| Bank Of India Overnight FundBank of India Mutual Fund · 6.8 yrs | B | 6.2% | +0.2% | 0.10% | ₹67 cr |
| ICICI Prudential Overnight FundICICI Prudential Mutual Fund · 8.0 yrs | B | 6.0% | +0.0% | 0.09% | ₹13,291 cr |
| UTI - Overnight FundUTI Mutual Fund · 13.8 yrs | B | 6.0% | +0.0% | 0.10% | ₹6,028 cr |
| LIC MF Overnight FundLIC Mutual Fund · 7.3 yrs | B | 6.0% | +0.0% | 0.11% | ₹1,008 cr |
| Invesco India Overnight FundInvesco Mutual Fund · 6.8 yrs | B | 6.0% | +0.0% | 0.08% | ₹642 cr |
| Sundaram Overnight FundSundaram Mutual Fund · 7.6 yrs | B | 6.0% | +0.0% | 0.08% | ₹1,108 cr |
| SBI Overnight FundSBI Mutual Fund · 13.8 yrs | B | 6.0% | -0.0% | 0.09% | ₹35,906 cr |
| Mahindra Manulife Overnight FundMahindra Manulife Mutual Fund · 7.3 yrs | B | 6.0% | +0.0% | 0.10% | ₹95 cr |
| Canara Robeco Overnight FundCanara Robeco Mutual Fund · 7.3 yrs | B | 5.9% | -0.0% | 0.08% | ₹376 cr |
| Union Overnight FundUnion Mutual Fund · 7.6 yrs | B | 6.0% | +0.0% | 0.14% | ₹732 cr |
| NJ Overnight FundNJ Mutual Fund · 4.3 yrs | B | 5.9% | -0.0% | 0.08% | ₹425 cr |
| quant Overnight Fundquant Mutual Fund · 3.9 yrs | B | 6.0% | +0.0% | 0.19% | ₹56 cr |
| HDFC Overnight FundHDFC Mutual Fund · 13.9 yrs | C | 6.0% | -0.0% | 0.11% | ₹12,203 cr |
| TRUSTMF Overnight FundTrust Mutual Fund · 4.8 yrs | C | 5.9% | -0.0% | 0.10% | ₹29 cr |
| Edelweiss Overnight FundEdelweiss Mutual Fund · 7.3 yrs | C | 6.0% | -0.0% | 0.11% | ₹292 cr |
| PGIM India Overnight FundPGIM India Mutual Fund · 7.2 yrs | C | 5.9% | -0.0% | 0.18% | ₹76 cr |
| JM Overnight FundJM Financial Mutual Fund · 6.9 yrs | C | 5.9% | -0.1% | 0.11% | ₹203 cr |
| Helios Overnight FundHelios Mutual Fund · 3.0 yrs | C | 5.9% | -0.1% | 0.20% | ₹298 cr |
| ITI Overnight FundITI Mutual Fund · 7.0 yrs | C | 5.8% | -0.2% | 0.15% | ₹14 cr |
| Groww Overnight FundGroww Mutual Fund · 7.3 yrs | C | 5.9% | -0.1% | 0.16% | ₹33 cr |
| Samco Overnight FundSamco Mutual Fund · 4.1 yrs | C | 5.8% | -0.2% | 0.22% | ₹31 cr |
| 360 ONE Overnight Fund360 ONE Mutual Fund · 1.3 yrs | – | – | – | 0.13% | ₹348 cr |
| Choice Overnight FundChoice Mutual Fund · 0.3 yrs | – | – | – | 0.11% | ₹95 cr |
| JioBlackRock Overnight FundJio BlackRock Mutual Fund · 1.3 yrs | – | – | – | 0.12% | ₹722 cr |
| Lakshya Overnight FundLakshya Mutual Fund · 0.1 yrs | – | – | – | 0.16% | ₹28 cr |
| Monarch Overnight FundMonarch Mutual Fund · 0.2 yrs | – | – | – | 0.24% | ₹100 cr |
| Shriram Overnight FundShriram Mutual Fund · 0.4 yrs | – | – | – | 0.19% | ₹67 cr |
| Zerodha CASE Overnight FundZerodha CASE Mutual Fund · 1.6 yrs | – | – | – | 0.13% | ₹123 cr |
Common questions
What does a overnight fund invest in?
SEBI requires overnight funds to lend only overnight, in securities maturing the next business day.
How many overnight funds beat their index over 3 years?
22 of 33 overnight 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.