Top Overnight Mutual Funds (2026)
Ranked by 3 year return, Direct plans, as on the latest NAV · AUM as on 30-09-2026
There are 32 Overnight mutual funds. Their average 3 year return is 6.0% a year, and +5.2% over the last year. The highest 3 year returns: Bank of India Overnight Fund 6.2%, Axis Overnight Fund 6.0%, Tata Overnight Fund 6.0%.
- Total AUM
- ₹1,19,654 Cr
- As on 30-09-2026
- Funds
- 32
- From 32 fund houses
- Expense ratio
- 0.05% to 0.19%
- Direct plans, lowest to highest
- Average 3Y return
- 6.0%
- A year, Direct plans
All Overnight Funds
Ranked by 3 year return, highest first
Ranked by 3 year return, highest first
| Exit load | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Bank of India Overnight Fund | 1 | 88 | +5.48% | +6.16% | +5.89% | -- | Low | 0.09% | None | 0.07% |
| Axis Overnight Fund | 2 | 10,855 | +5.29% | +6.05% | +5.80% | -- | Low | 0.09% | None | 0.04% |
| Tata Overnight Fund | 3 | 5,556 | +5.30% | +6.05% | +5.79% | -- | Low | 0.09% | None | 0.04% |
| Bajaj Finserv Overnight Fund | 4 | 792 | +5.34% | +6.05% | -- | -- | Low | 0.11% | None | 0.04% |
| Nippon India Overnight Fund | 5 | 6,791 | +5.27% | +6.04% | +5.79% | -- | Low | 0.10% | None | 0.04% |
| Kotak Overnight Fund | 6 | 7,935 | +5.27% | +6.03% | +5.78% | -- | Low | 0.09% | None | 0.10% |
| Mirae Asset Overnight Fund | 7 | 1,527 | +5.26% | +6.03% | +5.79% | -- | Low | 0.09% | None | 0.04% |
| Baroda BNP Paribas Overnight Fund | 8 | 657 | +5.28% | +6.03% | +5.78% | -- | -- | 0.08% | -- | 0.04% |
| quant Overnight Fund | 9 | 54 | +5.03% | +6.03% | -- | -- | Low | 0.19% | None | 0.15% |
| Aditya Birla Sun Life Overnight Fund | 10 | 11,387 | +5.25% | +6.02% | +5.77% | -- | Low | 0.05% | None | 0.04% |
| UTI - Overnight Fund | 11 | 8,999 | +5.26% | +6.02% | +5.77% | +5.33% | Low to Moderate | 0.09% | None | 0.04% |
| HSBC Overnight Fund | 12 | 4,805 | +5.26% | +6.02% | +5.78% | -- | Low | 0.07% | None | 0.04% |
| DSP Overnight Fund | 13 | 3,194 | +5.27% | +6.02% | +5.78% | -- | Low to Moderate | 0.11% | None | 0.12% |
| LIC MF Overnight Fund | 14 | 1,218 | +5.26% | +6.02% | +5.77% | -- | Low | 0.10% | None | 0.04% |
| Bandhan Overnight Fund | 15 | 1,213 | +5.26% | +6.02% | +5.77% | -- | Low | 0.07% | None | 0.04% |
| Franklin India Overnight Fund | 16 | 874 | +5.31% | +6.02% | +5.74% | -- | -- | 0.07% | None | 0.04% |
| Union Overnight Fund | 17 | 657 | +5.26% | +6.02% | +5.77% | -- | Low | 0.14% | None | 0.04% |
| Invesco India Overnight Fund | 18 | 485 | +5.27% | +6.02% | +5.76% | -- | Low | 0.09% | None | 0.04% |
| ICICI Prudential Overnight Fund | 19 | 12,280 | +5.26% | +6.01% | +5.76% | -- | -- | 0.09% | -- | 0.04% |
| Mahindra Manulife Overnight Fund | 20 | 73 | +5.24% | +6.01% | +5.77% | -- | Low | 0.10% | None | 0.04% |
| Sundaram Overnight Fund | 21 | 1,927 | +5.23% | +6.00% | +5.75% | -- | Low | 0.08% | None | 0.04% |
| SBI Overnight Fund | 22 | 25,553 | +5.22% | +5.98% | +5.74% | +5.34% | Low | 0.09% | None | 0.04% |
| HDFC Overnight Fund | 23 | 10,342 | +5.22% | +5.97% | +5.72% | +5.34% | Low | 0.11% | None | 0.04% |
| Edelweiss Overnight Fund | 24 | 168 | +5.24% | +5.97% | +5.72% | -- | Low | 0.11% | None | 0.04% |
| PGIM India Overnight Fund | 25 | 96 | +5.13% | +5.96% | +5.73% | -- | Low | 0.18% | None | 0.04% |
| Canara Robeco Overnight Fund | 26 | 623 | +5.23% | +5.95% | +5.71% | -- | Low | 0.08% | None | 0.04% |
| TRUSTMF Overnight Fund | 27 | 74 | +5.13% | +5.95% | -- | -- | -- | 0.11% | -- | 0.09% |
| Groww Overnight Fund | 28 | 63 | +5.15% | +5.94% | +5.63% | -- | Low | 0.16% | None | 0.13% |
| JioBlackRock Overnight Fund | -- | 870 | +5.27% | -- | -- | -- | Low | 0.12% | None | -- |
| 360 One Overnight Fund | -- | 358 | +5.31% | -- | -- | -- | Low | 0.13% | None | -- |
| Zerodha Overnight Fund | -- | 99 | +5.13% | -- | -- | -- | Low | 0.13% | None | -- |
| Shriram Overnight Fund | -- | 41 | -- | -- | -- | -- | Low | 0.19% | 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 Overnight Funds
The largest funds of the category, side by side
How Overnight 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 Overnight Fund?
Only in debt and money market papers that mature the next business day. This is the rule SEBI sets for every fund in the category, so their portfolios can be compared.
Other debt categories: 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 · Gilt · Floater
Overnight Funds: Frequently Asked Questions
Which are the top Overnight mutual funds?
By 3 year return, the top Overnight funds are 1. Bank of India Overnight Fund (6.2% a year), 2. Axis Overnight Fund (6.0% a year), 3. Tata Overnight Fund (6.0% a year), 4. Bajaj Finserv Overnight Fund (6.0% a year), 5. Nippon India Overnight Fund (6.0% 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 Overnight funds are there?
32 Overnight funds are open for investment, from 32 fund houses.
What is a Overnight fund?
Only in debt and money market papers that mature the next business day.
What is the average return of Overnight funds?
1 year: 5.2%, 3 years: 6.0% a year, 5 years: 5.8% a year. The simple average of every Overnight fund's Direct plan.
Which Overnight fund has the lowest expense ratio?
Aditya Birla Sun Life Overnight Fund, at 0.05% a year (Direct plan), as reported to AMFI.
Which is the largest Overnight fund?
SBI Overnight Fund, with ₹25,553 Cr of investors' money on 30-09-2026.
How are Overnight 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.