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Friday, 5 Jun 2026 · IST
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SEBI sub-category

Overnight Fund funds

Funds
30
Regular plans only
Category 1Y avg
+5.21%
Category 5Y CAGR
+5.50%
Direct vs Regular
Direct Regular

5-Year return distribution

How the 30 Overnight Fund funds spread across return buckets. Taller bars = more funds in that band.

Risk vs Return — Overnight Fund

Each dot is a fund. Up-and-left = high return for low risk (the sweet spot). Down-and-right = under-performing with high volatility. Colour = 5-year peer quartile.

Q1 (top 25%) Q2 Q3 Q4 (bottom 25%) 22 funds plotted

All Overnight Fund funds

Sort by: 1Y 3Y 5Y 7Y 10Y
# Scheme 5Y
1 BANK OF INDIA Overnight Fund Regular Plan Growth
Bank of India
 +5.68%
2 Axis Overnight Fund - Regular Plan - Growth Option
Axis
 +5.57%
3 Mirae Asset Overnight Fund Regular Plan Growth
Mirae Asset
 +5.53%
4 Invesco India Overnight Fund - Regular Plan - Growth
Invesco
 +5.53%
5 Baroda BNP Paribas Overnight Fund - Regular Plan - Growth
Baroda BNP Paribas
 +5.53%
6 DSP Overnight Fund - Regular Plan - Growth
DSP
 +5.52%
7 Nippon India Overnight Fund - Regular Plan - Growth Option
Nippon India
 +5.52%
8 CANARA ROBECO OVERNIGHT FUND - REGULAR PLAN - GROWTH OPTION
Canara Robeco
 +5.52%
9 PGIM India Overnight Fund - Regular Plan- Growth Option
PGIM India
 +5.52%
10 HSBC Overnight Fund - Regular Growth
HSBC
 +5.50%
11 Kotak Overnight Fund -Regular plan-Growth Option
Kotak
 +5.50%
12 Mahindra Manulife Overnight Fund - Regular Plan - Growth
Mahindra Manulife
 +5.50%
13 Union Overnight Fund - Regular Plan - Growth Option
Union
 +5.49%
14 Edelweiss Overnight Fund - Regular Plan - Growth
Edelweiss
 +5.49%
15 BANDHAN Overnight Fund - Regular Plan - Growth
Bandhan
 +5.49%
16 Tata Overnight Fund-Regular Plan-Growth
Tata
 +5.49%
17 ADITYA BIRLA SUNLIFE OVERNIGHT FUND-REGULAR PLAN-GROWTH
—
 +5.48%
18 LIC MF Overnight Fund-Regular Plan-Growth
LIC
 +5.48%
19 Sundaram Overnight Fund Regular Plan - Growth
Sundaram
 +5.47%
20 JM Overnight Fund (Regular) - Growth
—
 +5.46%
21 Groww Overnight Fund (formerly known as Indiabulls Overnight Fund)- Regular Plan- Growth Option
Groww
 +5.37%
22 ITI Overnight Fund - Regular Plan - Growth Option
ITI
 +5.31%
23 360 ONE Overnight Fund - Regular Plan - Growth
360 ONE
 —
24 Bajaj Finserv Overnight Fund - Regular Plan - Growth
Bajaj Finserv
 —
25 Helios Overnight Fund - Regular Plan - Growth Option
Helios
 —
26 NJ Overnight Fund - Regular Plan - Growth Option
NJ
 —
27 quant Overnight Fund - Growth Option - Regular Plan
Quant
 —
28 Samco Overnight Fund - Regular Plan - Growth Option
Samco
 —
29 Shriram Overnight Fund - Regular Growth
Shriram
 —
30 TRUST MF OVERNIGHT FUND-REGULAR-GROWTH
Trust
 —

Direct plans typically outperform Regular plans by around 50 basis points per year because they carry no distributor commission. The "Peer Q (5Y)" column shows the fund's quartile within this category over the 5-year window: Q1 = top 25%.

Frequently asked questions

Generated from this category's live aggregates — average returns, fund counts, quartile spreads. Updated daily.

Overnight Fund is a SEBI-defined mutual-fund category. Each scheme in it must follow the asset-allocation and exposure rules set out in the SEBI October-2017 categorisation circular. Debt bucket for tax purposes.
We currently track 30 active Overnight Fund schemes (Regular plan, Growth option). The list updates daily after AMFI publishes new NAVs and SEBI re-classifies schemes. 5 of them sit in the top quartile by 5-year CAGR.
Over the last 5 years, the average Overnight Fund (Regular plan) has returned 5.50% CAGR — that turns ₹1 lakh into roughly ₹130,677. Over the last 12 months the category averaged 5.21%. Top-quartile funds in this category typically beat the average by 3-6 percentage points per year — fund selection within a category matters more than the category choice itself.
Over the trailing 5-year window, the highest-returning Overnight Fund in our database is **BANK OF INDIA Overnight Fund Regular Plan Growth** (Bank of India) with a CAGR of 5.68%. The category average is 5.50%. Past performance is no guarantee of future returns — top-quartile funds in one window often slip in the next.
The best 1-year return in the Overnight Fund category right now is **BANK OF INDIA Overnight Fund Regular Plan Growth** (Bank of India) at 5.57%. 1-year numbers are noisy and shouldn't be the sole basis for picking — cross-check rolling returns and 5-year CAGR before deciding.
Across all Overnight Fund schemes with 5 years of history, the 5-year CAGR ranges from 5.31% (worst) to 5.68% (best), with a median of 5.50%. That spread of about 0 percentage points between top and bottom is a useful gauge of how much fund selection matters in this category.
On ProfitGuruOnline you can browse either Overnight Fund Direct plans (lower expense ratio, no broker commission baked in) or Regular plans (sold through distributors). Use the filter on the category page. Direct typically outperforms Regular by 0.5-1% per year in the same scheme — meaningful over 10+ years.
Overnight Fund is a Debt scheme. For units bought on or after 1 April 2023, all gains are taxed at slab rate, no indexation. Pre-Apr-2023 holdings keep the old rules (20% LTCG with indexation if held over 36 months).
Less critical. Debt funds have low day-to-day volatility, so lumpsum and SIP outcomes converge. SIP still works for discipline, especially if your savings flow is monthly.
Overnight Fund schemes are designed for very short horizons (a few days to a few months). They're not for capital growth — just better-than-savings yield on idle cash.
Lower risk than equity but not zero — credit-risk funds can lose 10-20% from a single corporate default; long-duration funds lose 5-10% if rates spike. Liquid and overnight funds are the safest debt sub-categories.
Two or three schemes from different AMCs is usually enough for a single category. Beyond that you'd be re-creating the category average minus your selection cost. Focus on consistency (% of rolling-return windows that ended positive) over chasing top performers — top quartile rarely repeats.
Quarterly is plenty for monitoring NAVs and aggregate gain; annually (or after major regulatory changes like Budget 2024) is the right cadence for re-evaluating against alternatives. Don't churn based on 1-month or even 1-year underperformance — equity funds need 3-5 year horizons to fairly judge.
We rank funds within each category by point-to-point CAGR over the chosen window (1Y, 3Y, 5Y, 7Y, 10Y, since inception), then assign quartile and decile bands so any fund's standing relative to peers is one click away. Numbers are recomputed nightly after AMFI's NAV publish.
Daily NAVs are pulled directly from AMFI's published feed. Category classification uses SEBI's October-2017 mutual-fund categorisation circular. We compute returns, rolling-window stats, SIP backtests, drawdowns and Sharpe ratios in-house — no third-party feeds, no hidden adjustments.

Educational content only — not investment advice. Tax rules summarised above reflect Budget 2024; consult a qualified adviser before transacting.