Top Gilt Mutual Funds (2026)
Ranked by 3 year return, Direct plans, as on the latest NAV · AUM as on 30-09-2026
There are 28 Gilt mutual funds. Their average 3 year return is 6.2% a year, and +2.1% over the last year. The highest 3 year returns: Bandhan Gilt Fund 8.4%, Bandhan 10 year Constant Maturity Gilt Fund 7.3%, Axis Gilt Fund 6.9%.
- Total AUM
- ₹33,431 Cr
- As on 30-09-2026
- Funds
- 28
- From 23 fund houses
- Expense ratio
- 0.17% to 0.70%
- Direct plans, lowest to highest
- Average 3Y return
- 6.2%
- A year, Direct plans
All Gilt Funds
Ranked by 3 year return, highest first
Ranked by 3 year return, highest first
| Exit load | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Gilt Fund | 1 | 1,686 | +7.50% | +8.37% | +6.46% | +7.66% | Low to Moderate | 0.57% | None | 3.43% |
| Bandhan 10 year Constant Maturity Gilt Fund | 2 | 285 | +2.61% | +7.25% | +5.59% | +7.62% | Moderate | 0.26% | None | 2.77% |
| Axis Gilt Fund | 3 | 336 | +3.08% | +6.94% | +5.86% | +6.74% | Moderate | 0.46% | None | 2.93% |
| ICICI Prudential 10 year Constant Maturity Gilt Fund | 4 | 1,935 | +2.06% | +6.88% | +5.55% | +7.15% | -- | 0.29% | None | 2.68% |
| UTI 10 year Constant Maturity Gilt Fund | 5 | 105 | +1.45% | +6.55% | -- | -- | -- | 0.33% | None | 2.72% |
| SBI 10 Year Constant Maturity Gilt Fund | 6 | 1,501 | +1.37% | +6.51% | +5.39% | +7.26% | -- | 0.32% | -- | 2.74% |
| SBI Gilt Fund | 7 | 8,067 | +3.28% | +6.50% | +6.20% | +7.32% | -- | 0.49% | -- | 2.63% |
| Baroda BNP Paribas Gilt Fund | 8 | 515 | +2.06% | +6.44% | +5.50% | +6.18% | -- | 0.17% | -- | 2.48% |
| DSP Gilt Fund | 9 | 1,083 | +1.93% | +6.41% | +5.67% | +7.10% | Moderate | 0.59% | None | 3.71% |
| UTI - Gilt Fund | 10 | 415 | +3.11% | +6.31% | +5.41% | +6.72% | Moderate | 0.47% | None | 2.63% |
| ICICI Prudential Gilt Fund | 11 | 9,118 | +1.91% | +6.23% | +6.08% | +7.15% | -- | 0.58% | None | 2.39% |
| Nippon India Gilt Fund | 12 | 1,487 | +2.49% | +6.20% | +5.44% | +7.15% | Moderate | 0.52% | None | 2.98% |
| Franklin India Gilt Fund | 13 | 145 | +4.02% | +6.17% | +5.27% | +5.39% | -- | 0.64% | None | 2.16% |
| Tata Gilt Fund | 14 | 769 | +1.32% | +6.15% | +5.59% | +6.23% | Moderate | 0.30% | None | 3.36% |
| HDFC Gilt Fund | 15 | 1,885 | +1.97% | +6.10% | +5.27% | +5.77% | Moderate | 0.46% | None | 2.66% |
| Invesco India Gilt Fund | 16 | 105 | +1.24% | +6.10% | +5.44% | +5.96% | Moderate | 0.48% | None | 3.61% |
| PGIM India Gilt Fund | 17 | 85 | +1.14% | +5.93% | +5.32% | +6.31% | Moderate | 0.53% | None | 2.93% |
| DSP 10 year Constant Maturity Gilt Fund | 18 | 37 | +0.20% | +5.87% | +4.74% | +5.87% | Moderate | 0.30% | None | 2.80% |
| HSBC Gilt Fund | 19 | 152 | +1.57% | +5.82% | -- | -- | Moderate | 0.50% | None | 3.02% |
| Edelweiss Gilt Fund | 20 | 119 | +0.91% | +5.81% | +5.12% | -- | Moderate | 0.51% | None | 3.10% |
| Canara Robeco Gilt Fund | 21 | 111 | +1.84% | +5.81% | +5.16% | +6.18% | Moderate | 0.43% | None | 2.83% |
| quant Gilt Fund | 22 | 73 | +2.19% | +5.62% | -- | -- | Moderate | 0.40% | None | 1.83% |
| Kotak Gilt Fund | 23 | 2,065 | +1.78% | +5.49% | +5.21% | +6.68% | Moderate | 0.48% | None | 3.33% |
| Aditya Birla Sun Life Gilt Fund | 24 | 1,175 | +0.92% | +5.42% | +4.93% | +6.66% | Moderate | 0.50% | None | 3.61% |
| LIC MF Gilt Fund | 25 | 44 | +2.20% | +5.41% | +4.86% | +6.26% | Low to Moderate | 0.70% | 0.25% within 30 days | 3.47% |
| Union Gilt Fund | 26 | 75 | −0.46% | +4.58% | -- | -- | Moderate | 0.65% | None | 3.98% |
| Groww Gilt Fund | -- | 33 | +1.53% | -- | -- | -- | Moderate | 0.57% | None | -- |
| Bajaj Finserv Gilt Fund | -- | 26 | +4.22% | -- | -- | -- | Moderately High | 0.47% | None | -- |
Returns of each fund's Direct plan (its only plan where it has one), as on the latest NAV. 3, 5 and 10 year figures are a rate a year. Std dev: how much the daily returns swung over 3 years, as a yearly figure; lower is steadier. Riskometer and exit load from the fund's scheme summary document; "Varies" means the load changes with how long you hold, and the fund page has the full wording. Expense ratio: Direct plan, from AMFI. AUM at the end of the fund's last reported month. A fund younger than 3 years has no rank and is listed after the ranked ones.
Compare Gilt Funds
The largest funds of the category, side by side
How Gilt Funds Are Taxed
As debt funds: 65% or more of each fund is in bonds and money market papers
| When you sell | Tax on the gain |
|---|---|
| Units bought on or after 01-04-2023 | Your slab rate, however long you hold them |
| Units bought before 01-04-2023, within 2 years | Your slab rate |
| Units bought before 01-04-2023, after 2 years | 12.5% of the gain |
- IDCW (dividend) payouts are added to your income and taxed at your slab rate.
- A stamp duty of 0.005% is deducted when you invest.
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
What Is a Gilt Fund?
At least 80% in government securities. This is the rule SEBI sets for every fund in the category, so their portfolios can be compared.
Other debt categories: Overnight · Liquid · Ultra Short · Low Duration · Money Market · Short Duration · Medium Duration · Medium to Long Duration · Long Duration · Dynamic Bond · Corporate Bond · Credit Risk · Banking & PSU · Floater
Gilt Funds: Frequently Asked Questions
Which are the top Gilt mutual funds?
By 3 year return, the top Gilt funds are 1. Bandhan Gilt Fund (8.4% a year), 2. Bandhan 10 year Constant Maturity Gilt Fund (7.3% a year), 3. Axis Gilt Fund (6.9% a year), 4. ICICI Prudential 10 year Constant Maturity Gilt Fund (6.9% a year), 5. UTI 10 year Constant Maturity Gilt Fund (6.5% a year). Past returns do not promise future returns, so also look at costs, risk and how long each fund has done well.
How many Gilt funds are there?
28 Gilt funds are open for investment, from 23 fund houses.
What is a Gilt fund?
At least 80% in government securities.
What is the average return of Gilt funds?
1 year: 2.1%, 3 years: 6.2% a year, 5 years: 5.5% a year. The simple average of every Gilt fund's Direct plan.
Which Gilt fund has the lowest expense ratio?
Baroda BNP Paribas Gilt Fund, at 0.17% a year (Direct plan), as reported to AMFI.
Which is the largest Gilt fund?
ICICI Prudential Gilt Fund, with ₹9,118 Cr of investors' money on 30-09-2026.
How are Gilt funds taxed?
As debt funds: for units bought on or after 01-04-2023, the gain is added to your income and taxed at your slab rate, however long you hold them.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.