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Best Overnight Debt Funds in 2025

What are Debt: Overnight funds?

Funds Included	All Fund Returns (3Y annualised)	Top 5 fund Returns (3Y annualised)
38	6.21%	6.48%

This fund category is an example of Debt Scheme funds.

Debt funds invest primarily in fixed-income securities such as government bonds, corporate bonds, debentures, treasury bills, and money market instruments. They aim to provide steady income and capital preservation with lower volatility compared to equity funds. Depending on portfolio maturity and credit quality, debt funds range from liquid and short-duration funds to gilt and dynamic bond funds. Suitable for investors with moderate to low risk appetite seeking regular income.

Trailing returns for Debt: Overnight funds

These are average returns over the indicated period.

Monthly trailing returns:

Returns	Oct-2025	Sep-2025	Aug-2025	Jul-2025
Value	0.47%	0.42%	0.45%	0.45%

Quarterly trailing returns:

Returns	2025Q3	2025Q2	2025Q1	2024Q4
Value	1.33%	1.41%	1.57%	1.62%

Yearly trailing returns:

Returns	2024	2023	2022	2021
Value	6.69%	6.7%	4.67%	3.18%

Fundwise SIP and SWP returns

Rolling SIP returns

Fund	Any 1Y SIP	Any 3Y SIP	Any 5Y SIP
SBI Overnight Fund	6.29%	6.15%	5.39%
UTI Overnight Fund	6.3%	5.99%	5.4%
Aditya Birla Sun Life Overnight Fund	5.37%	5.48%	5.63%
ICICI Prudential Overnight Fund	5.37%	5.51%	5.61%
Nippon India Overnight Fund	5.37%	5.61%	5.68%
DSP Overnight Fund	5.36%	5.64%	5.7%
Kotak Overnight Fund	5.28%	5.64%	5.69%
Bandhan Overnight Fund	5.29%	5.63%	5.69%
Axis Overnight Fund	5.55%	5.77%	5.78%
Sundaram Overnight Fund	5.42%	5.72%	5.73%
Tata Overnight Fund	5.43%	5.77%	5.77%
Union Overnight Fund	5.15%	5.73%	5.76%
Baroda BNP Paribas Overnight Fund	5.25%	5.87%	5.8%
Franklin India Overnight Fund	5.63%	5.77%	5.73%
HSBC Overnight Fund	5.84%	5.92%	5.82%
Groww Overnight Fund	5.65%	5.74%	5.7%
LIC MF Overnight Fund	5.8%	5.97%	5.85%
Canara Robeco Overnight Fund	5.74%	5.92%	5.79%
Mahindra Manulife Overnight Fund	5.75%	5.94%	5.86%
Edelweiss Overnight Fund	5.72%	5.92%	5.8%
PGIM India Overnight Fund	5.78%	6.03%	5.9%
ITI Overnight Fund	5.66%	5.87%	5.72%
Mirae Asset Overnight Fund	5.92%	6.17%	5.94%
JM Overnight Fund	5.85%	6.14%	5.89%
Invesco India Overnight Fund	6.0%	6.19%	5.93%
Bank Of India Overnight Fund	6.09%	6.33%	6.04%
Trust MF Overnight Fund	6.63%	6.51%	0%
JM Overnight Unclaimed Redemption Ief Fund	0.0%	0.0%	0%
JM Overnight Unclaimed Redemption Fund	6.58%	6.46%	0%
NJ Overnight Fund	6.6%	6.31%	0%
Shriram Overnight Fund	6.6%	6.26%	0%
Samco Overnight Fund	6.49%	6.11%	0%
Quant Overnight Fund	6.88%	0%	0%
Bajaj Finserv Overnight Fund	6.63%	0%	0%
Helios Overnight Fund	6.38%	0%	0%
Zerodha Overnight Fund	0%	0%	0%
Jioblackrock Overnight Fund	0%	0%	0%
360 One Overnight Fund	0%	0%	0%

SIP Calculator Fund: Duration: 1 Year 3 Years 5 Years SIP Amount (₹):

Rolling SWP returns

Fund	Any 1Y SWP	Any 3Y SWP	Any 5Y SWP
SBI Overnight Fund	6.35%	5.99%	5.56%
UTI Overnight Fund	6.37%	5.59%	5.27%
Aditya Birla Sun Life Overnight Fund	5.37%	4.35%	4.25%
ICICI Prudential Overnight Fund	5.37%	4.32%	4.22%
Nippon India Overnight Fund	5.35%	4.32%	4.24%
DSP Overnight Fund	5.32%	4.33%	4.26%
Kotak Overnight Fund	5.23%	4.26%	4.19%
Bandhan Overnight Fund	5.22%	4.25%	4.2%
Axis Overnight Fund	5.17%	4.22%	4.21%
Sundaram Overnight Fund	5.15%	4.19%	4.18%
Tata Overnight Fund	5.07%	4.2%	4.19%
Union Overnight Fund	4.92%	4.16%	4.15%
Baroda BNP Paribas Overnight Fund	4.93%	4.21%	4.19%
Franklin India Overnight Fund	4.94%	4.09%	4.08%
HSBC Overnight Fund	5.27%	4.27%	4.2%
Groww Overnight Fund	4.83%	4.13%	4.04%
LIC MF Overnight Fund	4.99%	4.33%	4.15%
Canara Robeco Overnight Fund	5.02%	4.29%	4.14%
Mahindra Manulife Overnight Fund	4.72%	4.29%	4.14%
Edelweiss Overnight Fund	4.93%	4.25%	4.19%
PGIM India Overnight Fund	5.19%	4.42%	4.22%
ITI Overnight Fund	5.11%	4.31%	4.1%
Mirae Asset Overnight Fund	5.59%	4.57%	4.26%
JM Overnight Fund	5.62%	4.58%	4.28%
Invesco India Overnight Fund	5.86%	4.61%	4.28%
Bank Of India Overnight Fund	5.92%	4.8%	4.42%
Trust MF Overnight Fund	6.6%	6.3%	0%
JM Overnight Unclaimed Redemption Ief Fund	0%	0%	0%
JM Overnight Unclaimed Redemption Fund	6.55%	6.29%	0%
NJ Overnight Fund	6.6%	6.49%	0%
Shriram Overnight Fund	6.59%	6.53%	0%
Samco Overnight Fund	6.53%	6.47%	0%
Quant Overnight Fund	6.98%	0%	0%
Bajaj Finserv Overnight Fund	6.68%	0%	0%
Helios Overnight Fund	6.53%	0%	0%
Zerodha Overnight Fund	0%	0%	0%
Jioblackrock Overnight Fund	0%	0%	0%
360 One Overnight Fund	0%	0%	0%

SIP and SWP returns with step-up

Rolling SIP returns with 10% step-up

Fund	Any 1Y SIP	Any 3Y Step-up SIP	Any 5Y Step-up SIP
SBI Overnight Fund	6.29%	6.16%	5.42%
UTI Overnight Fund	6.3%	6.01%	5.43%
Aditya Birla Sun Life Overnight Fund	5.37%	5.53%	5.7%
ICICI Prudential Overnight Fund	5.37%	5.55%	5.68%
Nippon India Overnight Fund	5.37%	5.65%	5.75%
DSP Overnight Fund	5.36%	5.68%	5.77%
Kotak Overnight Fund	5.28%	5.68%	5.76%
Bandhan Overnight Fund	5.29%	5.67%	5.76%
Axis Overnight Fund	5.55%	5.81%	5.85%
Sundaram Overnight Fund	5.42%	5.76%	5.8%
Tata Overnight Fund	5.43%	5.81%	5.84%
Union Overnight Fund	5.15%	5.77%	5.83%
Baroda BNP Paribas Overnight Fund	5.25%	5.91%	5.87%
Franklin India Overnight Fund	5.63%	5.81%	5.8%
HSBC Overnight Fund	5.84%	5.95%	5.89%
Groww Overnight Fund	5.65%	5.78%	5.77%
LIC MF Overnight Fund	5.8%	6.0%	5.91%
Canara Robeco Overnight Fund	5.74%	5.96%	5.85%
Mahindra Manulife Overnight Fund	5.75%	5.97%	5.92%
Edelweiss Overnight Fund	5.72%	5.95%	5.86%
PGIM India Overnight Fund	5.78%	6.06%	5.96%
ITI Overnight Fund	5.66%	5.9%	5.77%
Mirae Asset Overnight Fund	5.92%	6.2%	5.99%
JM Overnight Fund	5.85%	6.17%	5.94%
Invesco India Overnight Fund	6.0%	6.22%	5.99%
Bank Of India Overnight Fund	6.09%	6.35%	6.08%
Trust MF Overnight Fund	6.63%	6.5%	0%
JM Overnight Unclaimed Redemption Ief Fund	0.0%	0.0%	0%
JM Overnight Unclaimed Redemption Fund	6.58%	6.45%	0%
NJ Overnight Fund	6.6%	6.29%	0%
Shriram Overnight Fund	6.6%	6.25%	0%
Samco Overnight Fund	6.49%	6.1%	0%
Quant Overnight Fund	6.88%	0%	0%
Bajaj Finserv Overnight Fund	6.63%	0%	0%
Helios Overnight Fund	6.38%	0%	0%
Zerodha Overnight Fund	0%	0%	0%
Jioblackrock Overnight Fund	0%	0%	0%
360 One Overnight Fund	0%	0%	0%

Rolling SWP returns with 10% step-up

Fund	Any 1Y SWP	Any 3Y Step-up SWP	Any 5Y Step-up SWP
SBI Overnight Fund	6.35%	6.0%	5.52%
UTI Overnight Fund	6.37%	5.59%	5.23%
Aditya Birla Sun Life Overnight Fund	5.37%	4.35%	4.28%
ICICI Prudential Overnight Fund	5.37%	4.33%	4.25%
Nippon India Overnight Fund	5.35%	4.32%	4.28%
DSP Overnight Fund	5.32%	4.33%	4.29%
Kotak Overnight Fund	5.23%	4.27%	4.23%
Bandhan Overnight Fund	5.22%	4.25%	4.23%
Axis Overnight Fund	5.17%	4.23%	4.24%
Sundaram Overnight Fund	5.15%	4.19%	4.22%
Tata Overnight Fund	5.07%	4.2%	4.22%
Union Overnight Fund	4.92%	4.16%	4.18%
Baroda BNP Paribas Overnight Fund	4.93%	4.23%	4.23%
Franklin India Overnight Fund	4.94%	4.13%	4.11%
HSBC Overnight Fund	5.27%	4.31%	4.23%
Groww Overnight Fund	4.83%	4.17%	4.07%
LIC MF Overnight Fund	4.99%	4.37%	4.18%
Canara Robeco Overnight Fund	5.02%	4.33%	4.18%
Mahindra Manulife Overnight Fund	4.72%	4.33%	4.19%
Edelweiss Overnight Fund	4.93%	4.28%	4.22%
PGIM India Overnight Fund	5.19%	4.46%	4.29%
ITI Overnight Fund	5.11%	4.35%	4.18%
Mirae Asset Overnight Fund	5.59%	4.61%	4.34%
JM Overnight Fund	5.62%	4.62%	4.35%
Invesco India Overnight Fund	5.86%	4.65%	4.36%
Bank Of India Overnight Fund	5.92%	4.85%	4.5%
Trust MF Overnight Fund	6.6%	6.32%	0%
JM Overnight Unclaimed Redemption Ief Fund	0%	0%	0%
JM Overnight Unclaimed Redemption Fund	6.55%	6.31%	0%
NJ Overnight Fund	6.6%	6.5%	0%
Shriram Overnight Fund	6.59%	6.53%	0%
Samco Overnight Fund	6.53%	6.47%	0%
Quant Overnight Fund	6.98%	0%	0%
Bajaj Finserv Overnight Fund	6.68%	0%	0%
Helios Overnight Fund	6.53%	0%	0%
Zerodha Overnight Fund	0%	0%	0%
Jioblackrock Overnight Fund	0%	0%	0%
360 One Overnight Fund	0%	0%	0%

Note:N.A. in returns indicate that the fund does not have sufficient history.

How are Debt: Overnight funds taxed on selling?

Debt Funds Tax for FY2025-26	STCG Rate	LTCG Eligibility	LTCG Rate
Bought Before 1 Apr 2023	Slab	After 2Y	12.5%
Bought After 31 Mar 2023	Slab	Always STCG	Slab

Note:

• Dividends from mutual funds (called IDCW or Income Distribution cum Capital Withdrawal funds), are added to the income of the investor and taxed at their highest applicable (slab) rate.
• Cess and surcharge (if applicable) is to be applied to taxes from mutual funds from selling and dividends.
• Switches, SWP and selling any lump sum amount are taxable as per the table above.

Explore All Funds Belonging to this Type

All
Long Duration Dynamic Bond Low Duration Corporate Bond Medium To Long Duration Ultra Short Duration Banking And PSU Overnight Gilt Fund With 10 Year Constant Duration Liquid Floater Short Duration Credit Risk Gilt Debt Index Medium Duration Money Market

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Aditya Birla Sun Life Mutual Fund Tata Mutual Fund Franklin Templeton Mutual Fund Taurus Mutual Fund Canara Robeco Mutual Fund Sundaram Mutual Fund SBI Mutual Fund UTI Mutual Fund Baroda BNP Paribas Mutual Fund HSBC Mutual Fund Quantum Mutual Fund DSP Mutual Fund Invesco Mutual Fund Mirae Asset Mutual Fund Bandhan Mutual Fund Bank of India Mutual Fund Edelweiss Mutual Fund Axis Mutual Fund Navi Mutual Fund Motilal Oswal Mutual Fund Union Mutual Fund Groww Mutual Fund HDFC Mutual Fund PGIM India Mutual Fund 360 ONE Mutual Fund PPFAS Mutual Fund Shriram Mutual Fund Mahindra Manulife Mutual Fund WhiteOak Capital Mutual Fund ITI Mutual Fund Trust Mutual Fund NJ Mutual Fund Samco Mutual Fund quant Mutual Fund Bajaj Finserv Mutual Fund Helios Mutual Fund Zerodha Mutual Fund Old Bridge Mutual Fund Angel One Mutual Fund Unifi Mutual Fund Jio BlackRock Mutual Fund Capitalmind Mutual Fund The Wealth Company Mutual Fund JM Financial Mutual Fund Choice Mutual Fund Kotak Mahindra Mutual Fund LIC Mutual Fund ICICI Prudential Mutual Fund Nippon India Mutual Fund

Explore Different Categories of Mutual Funds

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Disclaimer: Mutual fund investments are subject to market risks, read all scheme related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates. The past performance of the mutual funds is not necessarily indicative of future performance of the schemes. The Mutual Fund is not guaranteeing or assuring any dividend under any of the schemes and the same is subject to the availability and adequacy of distributable surplus. Investors are requested to review the prospectus carefully and obtain expert professional advice with regard to specific legal, tax and financial implications of the investment/participation in the scheme.

Note: NAVs and returns updated on 23-Nov-2025.

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