Money Market Funds Compared
Every money market mutual fund's 1, 3 and 5-year return, SIP return and record against the Nifty 50, ranked by a stated measure, from AMFI NAVs.
As of 30 Sep 2026, there are 25 money market funds with at least 3 years of NAVs. Over 5 years their direct plans returned a median 6.7% a year. The highest 5-year return was Tata Money Market Fund at 6.9% a year.
All money market funds, ranked by 5-year return
| # | Fund | 1y | 3y | 5y | 10y | 5y regular | 5y SIP XIRR | Expense ratio (direct) |
|---|---|---|---|---|---|---|---|---|
| 1 | Tata Money Market Fund | 6.6% | 7.5% | 6.9% | 6.1% | 6.6% | 7.3% | 0.18% |
| 2 | Nippon India Money Market Fund | 6.5% | 7.4% | 6.8% | 6.8% | 6.6% | 7.2% | 0.22% |
| 3 | Axis Money Market Fund | 6.6% | 7.5% | 6.8% | — | 6.6% | 7.2% | 0.18% |
| 4 | Aditya Birla Sun Life Money Market Fund | 6.5% | 7.4% | 6.8% | 6.8% | 6.6% | 7.2% | 0.22% |
| 5 | UTI - Money Market Fund | 6.5% | 7.4% | 6.8% | 6.7% | 6.3% | 7.2% | 0.17% |
| 6 | HDFC Money Market Fund | 6.5% | 7.4% | 6.7% | 6.8% | 6.5% | 7.2% | 0.22% |
| 7 | Kotak Money Market Fund | 6.6% | 7.4% | 6.7% | 6.7% | 6.6% | 7.2% | 0.16% |
| 8 | ICICI Prudential Money Market Fund | 6.5% | 7.4% | 6.7% | 6.7% | — | 7.2% | 0.21% |
| 9 | Bandhan Money Market Fund | 6.6% | 7.4% | 6.7% | 6.5% | — | 7.2% | 0.10% |
| 10 | SBI Money Market Fund | 6.4% | 7.3% | 6.7% | 6.8% | 6.2% | 7.1% | 0.26% |
| 11 | Franklin India Money Market Fund | 6.5% | 7.4% | 6.7% | 6.8% | 6.5% | 7.2% | 0.14% |
| 12 | PGIM India Money Market Fund | 6.3% | 7.2% | 6.6% | — | 6.2% | 7.0% | 0.17% |
| 13 | Mirae Asset Money Market Fund | 6.4% | 7.4% | 6.6% | — | 6.3% | 7.1% | 0.11% |
| 14 | Sundaram Money Market Fund | 6.5% | 7.3% | 6.5% | — | 6.4% | 7.0% | 0.19% |
| 15 | Union Money Market Fund | 6.8% | 7.2% | 6.5% | — | 5.8% | 7.0% | 0.17% |
| 16 | Edelweiss Money Market Fund | 6.6% | 7.3% | 6.5% | — | 5.8% | 7.0% | 0.11% |
| 17 | Invesco India Money Market Fund | 6.5% | 7.3% | 6.5% | 6.5% | 6.2% | 7.0% | 0.16% |
| 18 | DSP Money Market Fund | 6.6% | 7.2% | 6.5% | 6.5% | 6.2% | 7.0% | 0.18% |
| 19 | Baroda BNP Paribas Money Market Fund | 6.5% | 7.3% | 6.5% | — | 6.3% | 7.0% | 0.17% |
| — | Bajaj Finserv Money Market Fund | 6.5% | 7.4% | — | — | — | — | 0.13% |
| — | Bandhan Money Market Fund | — | — | — | — | 6.1% | — | 0.10% |
| — | HSBC Money Market Fund | 6.5% | 7.3% | — | — | — | — | 0.15% |
| — | ICICI Prudential Money Market Fund - Cash Option | — | — | — | — | 6.6% | — | — |
| — | LIC MF Money Market Fund | 6.6% | 6.8% | — | — | — | — | 0.16% |
| — | Trustmf Money Market Fund | 6.4% | 7.2% | — | — | — | — | 0.16% |
Direct plans, Growth option, to 30 Sep 2026. Funds that closed or merged are not in AMFI's current list, so the category looks a little better than investors actually did (survivorship). Returns are yearly (CAGR) from AMFI month-end NAVs of the Growth option. An index's return is measured through a low-cost index fund's direct plan, so it is a little below the index itself. Past returns do not tell you what a fund will do next, and this is not a recommendation to buy or sell any fund. Other categories: all mutual fund categories.
Key takeaways
Frequently asked questions
Which money market fund has given the highest returns?
Over the 5 years to 30 Sep 2026, Tata Money Market Fund (direct plan) at 6.9% a year. Past returns do not predict future ones.
What is the average return of money market funds?
The median direct plan returned 6.7% a year over 5 years to 30 Sep 2026.