SBI Retirement Benefit Fund - Conservative Plan

SolutionDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

SBI Retirement Benefit Fund - Conservative Plan is a mutual fund run by SBI Mutual Fund. On 30-09-2026, it managed ₹138 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 6.4% a year and its Regular plan returned 5.9% a year.

NAV (Direct plan): ₹14.85; ▼ 0.01%30-10-2026
NAV (Regular plan): ₹14.44; ▼ 0.01%30-10-2026
Expense ratio: 0.98%Direct1.44%Regular; 0.98%; A year
Riskometer: Moderately High; Set by the fund house
3 year return: 6.4%Direct5.9%Regular; 6.4%; A year

SBI Retirement Benefit Fund - Conservative Plan NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹14.85 (down 0.01% that day); Regular Plan Growth ₹14.44 (down 0.01% that day).

This fund (Direct plan)

₹14.8509

SBI Retirement Benefit Fund - Conservative Plan Returns

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−0.53%	−0.99%	+1.76%	+0.86%	+6.41%	+6.64%	--
This fund (Regular)	−0.57%	−1.10%	+1.53%	+0.40%	+5.92%	+6.14%	--
Category average	--	--	--	--	--	--	--
Best in category	--	--	--	--	--	--	--
Worst in category	--	--	--	--	--	--	--
Rank in category	--	--	--	--	--	--	--

No category comparison is shown: this fund's category is too broad to compare, or has fewer than five funds. This fund's benchmark is CRISIL Hybrid 85+15 - Conservative Index. Returns of that index are not available to us.

SBI Retirement Benefit Fund - Conservative Plan Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	+0.49%	+0.11%
2025	+5.59%	+5.11%
2024	+9.54%	+9.03%
2023	+11.84%	+11.29%
2022	+5.42%	+4.91%

SBI Retirement Benefit Fund - Conservative Plan Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 660 periods, one for each trading day from 20-02-2024 to 30-10-2026.

0%2%4%6%8%10%12%

May 2021
to
May 2024Oct 2021
to
Oct 2024Apr 2022
to
Apr 2025Sept 2022
to
Sept 2025Mar 2023
to
Mar 2026Aug 2023
to
Aug 2026

SBI Retirement Benefit Fund - Conservative Plan (Direct)

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss
1 year	1,146	7.2%	−1.1%	14.2%	2%
2 years	901	8.5%	2.7%	13.2%	0%
3 years	660	8.9%	6.2%	11.3%	0%
5 years	170	7.4%	6.5%	8.1%	0%

Period	Periods	Median	Lowest	Highest	With a loss
1 year	57	6.9%	−5.3%	15.3%	4%
2 years	45	8.8%	0.1%	13.5%	0%
3 years	33	9.3%	3.3%	11.9%	0%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. Past returns do not promise future returns.

SBI Retirement Benefit Fund - Conservative Plan Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	SBI Retirement Benefit Fund - Conservative Plan (Direct)This fund
Return (CAGR)	+0.86%
Standard deviation	4.37%
Sharpe ratio	-1.00
Sortino ratio	-1.36
Maximum drawdown	−4.5% (30-03-2026)

From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.

Measure	SBI Retirement Benefit Fund - Conservative Plan (Direct)This fund
Return (CAGR)	+6.41%
Standard deviation	3.61%
Sharpe ratio	0.11
Sortino ratio	0.15
Maximum drawdown	−4.5% (30-03-2026)

From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.

Measure	SBI Retirement Benefit Fund - Conservative Plan (Direct)This fund
Return (CAGR)	+6.64%
Standard deviation	3.47%
Sharpe ratio	0.24
Sortino ratio	0.33
Maximum drawdown	−4.5% (30-03-2026)

From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.

Measure	SBI Retirement Benefit Fund - Conservative Plan (Direct)This fund
Return (CAGR)	+7.13%
Standard deviation	3.33%
Sharpe ratio	0.50
Sortino ratio	0.69
Maximum drawdown	−4.5% (30-03-2026)

From daily NAVs, 17-02-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.

Drawdowns

How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.

−5%−4%−3%−2%−1%0%

20222023202420252026

SBI Retirement Benefit Fund - Conservative Plan (Direct)

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
SBI Retirement Benefit Fund - Conservative Plan (Direct)	−4.5%	02-01-2026	30-03-2026	16-06-2026	3 months	−1.8%

From the Direct plan's daily NAV since 17-02-2021, adjusted for unit splits. "Time to climb back" runs from the bottom to the first day back at the old high.

SBI Retirement Benefit Fund - Conservative Plan Expense Ratio and Costs

What each plan charges a year, in force from 01-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio
Direct	0.79%	0.01%	0.01%	0.17%	0.98%
Regular	1.19%	0.01%	0.01%	0.23%	1.44%

The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	0.40%	0.86%	0.46%	₹1,00,400	₹1,00,860
3 years	5.92%	6.41%	0.49% a year	₹1,18,832	₹1,20,489
5 years	6.14%	6.64%	0.50% a year	₹1,34,709	₹1,37,912

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

SBI Retirement Benefit Fund - Conservative Plan SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 17-02-2021 to 30-10-2026: 69 instalments, ₹6,90,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planSBI Retirement Benefit Fund - Conservative Plan (Direct)	₹6,90,000	₹8,23,846	₹1,33,846	6.1%
Regular planSBI Retirement Benefit Fund - Conservative Plan (Regular)	₹6,90,000	₹8,11,888	₹1,21,888	5.6%

₹0₹2.0 L₹4.0 L₹6.0 L₹8.0 L₹10.0 L

20222023202420252026

Direct planSBI Retirement Benefit Fund - Conservative Plan (Direct)Regular planSBI Retirement Benefit Fund - Conservative Plan (Regular)Amount invested

From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.

SBI Retirement Benefit Fund - Conservative Plan Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

47.9%Debt

Asset	Fund
Debt	47.9%
Cash and others	33.1%
Equity	19.0%

Market cap of stocks

Market cap	Fund
Large Cap	9.3%
Mid Cap	4.8%
Small Cap	4.5%
Not on AMFI's list	0.3%

Share of the whole fund. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

Credit rating

Bonds and money market papers by credit rating, % of the fund.

Rating	Fund
AAA and A1+	26.9%
AA	21.0%

SBI Retirement Benefit Fund - Conservative Plan Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Banks3.7%
Automobiles1.4%
Pharmaceuticals & Biotechnology1.4%
Retailing1.2%
Auto Components1.1%
Realty1.0%
Finance1.0%
Cement & Cement Products0.9%
Industrial Products0.9%
Chemicals & Petrochemicals0.9%

The ten largest of 22 sectors. The other 12 add up to 5.6%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Banks	4.5%	4.3%	3.7%	−0.8%
Automobiles	1.2%	1.5%	1.4%	+0.2%
Pharmaceuticals & Biotechnology	0.9%	1.0%	1.4%	+0.5%
Retailing	0.9%	1.2%	1.2%	+0.3%
Auto Components	1.1%	1.1%	1.1%	0.0%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

SBI Retirement Benefit Fund - Conservative Plan Portfolio Holdings

As on 30-09-2026 · 64 holdings · from the fund house's monthly portfolio

Holdings	Sector / Rating	Weight%	1M change
National Bank for Agriculture and Rural Development · Bond	CRISIL AAA	7.20%
Bharat Sanchar Nigam Ltd. · Bond	CRISIL AAA(CE)	7.16%
Summit Digitel Infrastructure Pvt. Ltd. · Bond	CRISIL AAA	5.36%
Torrent Power Ltd. · Bond	CRISIL AA+	3.65%
Cholamandalam Investment & Finance Co. Ltd. · Bond	[ICRA]AA+	3.64%
Muthoot Finance Ltd. · Bond	CRISIL AA+	3.63%
Knowledge Realty Trust · Bond	CRISIL AAA	3.61%
Tata Power Renewable Energy Ltd. (Guaranteed by Tata Power Ltd.) · Bond	[ICRA]AA+	3.60%
REC Ltd. · Bond	CRISIL AAA	3.60%
Cholamandalam Investment & Finance Co. Ltd.Perpetual · Bond	[ICRA]AA	3.57%
Union Bank of India( AT1 Bond under Basel III ) · Bond	CRISIL AA+	2.91%
HDFC Bank Ltd.	Banks	1.24%	0.0%
ICICI Bank Ltd.	Banks	1.17%	0.0%
Larsen & Toubro Ltd.	Construction	0.79%	0.0%
State Bank of India	Banks	0.74%	0.0%
Maruti Suzuki India Ltd.	Automobiles	0.59%	0.0%
Ultratech Cement Ltd.	Cement & Cement Products	0.57%	0.0%
Kotak Mahindra Bank Ltd.	Banks	0.51%	0.0%
Lenskart Solutions Ltd.	Retailing	0.47%	0.0%
Urban Company Ltd.	Retailing	0.46%	0.0%
Bajaj Finance Ltd.	Finance	0.45%	0.0%
TVS Motor Company Ltd.	Automobiles	0.45%	0.0%
JSW Infrastructure Ltd.	Transport Infrastructure	0.43%	0.0%
Sona Blw Precision Forgings Ltd.	Auto Components	0.41%	0.0%
Anthem Biosciences Ltd.	Pharmaceuticals & Biotechnology	0.41%	0.0%
Corona Remedies Ltd.	Pharmaceuticals & Biotechnology	0.41%	New
Divi's Laboratories Ltd.	Pharmaceuticals & Biotechnology	0.39%	0.0%
Hyundai Motor India Ltd.	Automobiles	0.38%	0.0%
Schaeffler India Ltd.	Auto Components	0.37%	0.0%
Timken India Ltd.	Industrial Products	0.37%	0.0%
JSW Cement Ltd.	Cement & Cement Products	0.36%	0.0%
Navin Fluorine International Ltd.	Chemicals & Petrochemicals	0.36%	0.0%
Central Depository Services (I) Ltd.	Capital Markets	0.35%	0.0%
Elevate Campuses Ltd.	Realty	0.35%	New
ZF Commercial Vehicle Control Systems India Ltd.	Auto Components	0.31%	0.0%
Bajaj Finserv Ltd.	Finance	0.30%	0.0%
The Indian Hotels Company Ltd.	Leisure Services	0.30%	0.0%
Grindwell Norton Ltd.	Industrial Products	0.29%	0.0%
Asian Paints Ltd.	Consumer Durables	0.29%	0.0%
Tech Mahindra Ltd.	IT - Software	0.29%	0.0%
FSN E-Commerce Ventures Ltd.	Retailing	0.27%	0.0%
Pidilite Industries Ltd.	Chemicals & Petrochemicals	0.27%	0.0%
Jubilant Foodworks Ltd.	Leisure Services	0.27%	0.0%
Coforge Ltd.	IT - Software	0.26%	0.0%
Balrampur Chini Mills Ltd.	Agricultural Food & other Products	0.26%	0.0%
Thermax Ltd.	Electrical Equipment	0.25%	0.0%
Sudeep Pharma Ltd.	Chemicals & Petrochemicals	0.25%	−25.0%
Oberoi Realty Ltd.	Realty	0.24%	0.0%
Torrent Power Ltd.	Power	0.24%	0.0%
DLF Ltd.	Realty	0.23%	0.0%
ABB India Ltd.	Electrical Equipment	0.23%	0.0%
Godrej Properties Ltd.	Realty	0.22%	0.0%
Pitti Engineering Ltd.	Industrial Manufacturing	0.22%	0.0%
Berger Paints India Ltd.	Consumer Durables	0.22%	0.0%
Honeywell Automation India Ltd.	Industrial Manufacturing	0.21%	0.0%
Interglobe Aviation Ltd.	Transport Services	0.21%	0.0%
HDB Financial Services Ltd.	Finance	0.21%	0.0%
Voltas Ltd.	Consumer Durables	0.20%	0.0%
Page Industries Ltd.	Textiles & Apparels	0.19%	0.0%
LTM Ltd.	IT - Software	0.19%	0.0%
Carborundum Universal Ltd.	Industrial Products	0.18%	0.0%
Brigade Hotel Ventures Ltd.	Leisure Services	0.17%	0.0%
Biocon Ltd.	Pharmaceuticals & Biotechnology	0.16%	0.0%
ESAB India Ltd.	Industrial Products	0.04%	0.0%

SBI Retirement Benefit Fund - Conservative Plan Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

Axis Bank Ltd.	Sold out	−100%	was 0.54%
Corona Remedies Ltd.	New	New	0.41%
Elevate Campuses Ltd.	New	New	0.35%
Sudeep Pharma Ltd.	Reduced	−25.0%	0.25%
Kajaria Ceramics Ltd.	Sold out	−100%	was 0.06%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What SBI Retirement Benefit Fund - Conservative Plan bought and sold

SBI Retirement Benefit Fund - Conservative Plan Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
SBI Retirement Benefit Fund - Conservative Hybrid PlanSolution · SBI	44.8%	64	Compare
SBI Retirement Benefit Fund - Aggressive PlanSolution · SBI	19.0%	53	Compare
SBI Retirement Benefit Fund - Aggressive Hybrid PlanSolution · SBI	19.0%	53	Compare
SBI ESG Exclusionary Strategy FundThematic · SBI	13.7%	34	Compare
HDFC Nifty500 Multicap 50:25:25 Index FundIndex · HDFC	12.9%	46	Compare
Navi Nifty 500 Multicap 50:25:25 Index FundIndex · Navi	12.9%	46	Compare
Mirae Asset Nifty500 Multicap 50:25:25 ETFETF · Mirae Asset	12.9%	46	Compare
Mirae Asset Nifty LargeMidcap 250 Index FundIndex · Mirae Asset	12.4%	36	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

SBI Retirement Benefit Fund - Conservative Plan Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 0.98%
Expense ratio (Regular): 1.44%
Category: Solution
Risk: Moderately High
Benchmark: CRISIL Hybrid 85+15 - Conservative Index
Launch date: 10-02-2021
Minimum investment: ₹5,000
Minimum additional investment: ₹1,000
AUM: ₹137.53 Cr (30-09-2026)
Lock in: 5 years, or until retirement if earlier
Scheme code (Direct): 148688
ISIN (Direct): INF200KA1T39
Scheme code (Regular): 148696
ISIN (Regular): INF200KA1T13
NAV history: From 17-02-2021, 5.7 years

Exit load: Nil

Tax on SBI Retirement Benefit Fund - Conservative Plan returns

How the gain is taxed depends on what the fund holds. A fund with 65% or more in Indian stocks is taxed as an equity fund: 20% within 1 year, 12.5% after, on gains above ₹1.25 lakh a year.
A fund with 65% or more in debt is taxed at your slab rate. Any other fund: your slab rate within 2 years, 12.5% after.
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.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹14.8509	30-10-2026
direct	IDCW	₹14.8487	30-10-2026
regular	Growth	₹14.4404	30-10-2026
regular	IDCW	₹14.4402	30-10-2026

About SBI Retirement Benefit Fund - Conservative Plan

SBI Retirement Benefit Fund - Conservative Plan is a mutual fund from SBI Mutual Fund. Its category is Solution. It was launched on 10-02-2021. Its benchmark is CRISIL Hybrid 85+15 - Conservative Index. At the end of September 2026 it held 64 securities.

Fund Manager

Ardhendu Bhattacharya
Fund manager of SBI Retirement Benefit Fund - Conservative Plan, since 30-06-2021
Rohit Shimpi
Fund manager of SBI Retirement Benefit Fund - Conservative Plan, since 01-10-2021

See all funds of SBI Mutual Fund

AUM change

September 2026: ₹137.53 Cr; −2.07% from August 2026
August 2026: ₹140.43 Cr; −0.45% from July 2026
July 2026: ₹141.06 Cr; −2.63% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare SBI Retirement Benefit Fund - Conservative Plan with Other Funds

Returns, risk, costs and the stocks they share, side by side

Compare with any other fund

Frequently Asked Questions for SBI Retirement Benefit Fund - Conservative Plan

What is the current NAV of SBI Retirement Benefit Fund - Conservative Plan?

The Direct plan NAV is ₹14.8509. The Regular plan NAV is ₹14.4404, as on 30-10-2026.

What are the returns of SBI Retirement Benefit Fund - Conservative Plan?

The Direct plan returned +0.86% in 1 year, +6.41% a year over 3 years, +6.64% a year over 5 years. The Regular plan returned +0.40% in 1 year, +5.92% a year over 3 years, +6.14% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of SBI Retirement Benefit Fund - Conservative Plan?

The Direct plan charges 0.98% a year. The Regular plan charges 1.44% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.

What is the AUM of SBI Retirement Benefit Fund - Conservative Plan?

SBI Retirement Benefit Fund - Conservative Plan managed ₹137.53 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of SBI Retirement Benefit Fund - Conservative Plan?

At the end of September 2026 the largest holdings were National Bank for Agriculture and Rural Development (7.20%), Bharat Sanchar Nigam Ltd. (7.16%), Summit Digitel Infrastructure Pvt. Ltd. (5.36%), Torrent Power Ltd. (3.65%), Cholamandalam Investment & Finance Co. Ltd. (3.64%). The fund held 64 securities in all.

What did SBI Retirement Benefit Fund - Conservative Plan buy and sell in September 2026?

It bought 2 new stocks: Corona Remedies Ltd, Elevate Campuses Ltd. It sold out of 2: Kajaria Ceramics Ltd, Axis Bank Ltd. It reduced 1.

How do I invest in SBI Retirement Benefit Fund - Conservative Plan?

Through SBI Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹5,000. You can invest once or through a monthly SIP.

Who is the fund manager of SBI Retirement Benefit Fund - Conservative Plan?

Ardhendu Bhattacharya (since 30-06-2021), Rohit Shimpi (since 01-10-2021).

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

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.