Based on 1-year returns, the top performing Money Market funds are Union Money Market Fund Direct-Growth with 6.91% return, Bank of India Money Market Fund Direct-Growth with 6.78% return, and Tata Money Market Fund Direct-Growth with 6.78% return. The category average 1-year return is 6.60%.
Best Money Market Funds 2026
Money market debt funds invest in Money Market instruments with a maturity of up to 1 year.
Total Schemes
27
No. of schemes
Total AUM
₹ 3.29Lakh Cr
As on latest
Category Return (5Y)
6.56 %
CAGR
Benchmark Data
NA
This category currently has no benchmark assigned.
Category Returns (%)
| Period | 1M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | YTD |
|---|---|---|---|---|---|---|---|
Money Market | 0.67 % | 3.60 % | 6.60 % | 7.29 % | 6.56 % | 6.34 % | 4.59 % |
Benchmark Not Available No benchmark assigned | - | - | - | - | - | - | - |
About Money Market Funds
What is it?
Money market debt funds invest in Money Market instruments with a maturity of up to 1 year.
Objective
A money market fund's primary objective is to generate income while maintaining sufficient liquidity and low-interest rate risk.
Suitability and opinion
These funds are a good option for risk-averse investors looking for a decent return in the short term. These funds aim to generate slightly better returns compared to bank FDs of similar tenure. The risk is very low in this category. But we believe that investors can avoid investing in this fund and invest in liquid funds if they want to park their money for up to 1 year. We feel this because debt funds have different categories even in the shorter time duration and this differentiation does not add any value to retail investors. These funds can help in short-term capital preservation but can't be used for long-term wealth creation.
Money Market vs Other Categories
5Y CAGR Return Comparison
Key Insights
Money Market delivered 6.56% CAGR over the last 5 years.
It ranks #6 out of 18 categories based on 5Y performance.
Above the category average return of 6.49%.
5 categories outperform it, while 12 categories have lower returns.
Top performer: Credit Risk (10.54%).
Lowest performer: Long Term (5.63%).
Let's have a closer look
Now let us jump and check about these top 15 mutual fund schemes.
ICICI Prudential Money Market Direct-Growth
Fund Performance: ICICI Prudential Money Market Direct-Growth has given 7.42% annualized returns in the past three years and 6.68% in the last 5 years. The ICICI Prudential Money Market Direct-Growth comes under the Debt category of ICICI Prudential Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in ICICI Prudential Money Market Direct-Growth via lump sum is ₹ 500.00 and via SIP is ₹ 100.00.
Min Investment Amt
₹ 500.00
AUM
₹ 36,528.70Cr
1Y Returns
6.63%
Expense Ratio
0.21%
Tata Money Market Fund Direct-Growth
Fund Performance: Tata Money Market Fund Direct-Growth has given 7.58% annualized returns in the past three years and 6.85% in the last 5 years. The Tata Money Market Fund Direct-Growth comes under the Debt category of Tata Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in Tata Money Market Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 500.00.
Min Investment Amt
₹ 5,000.00
AUM
₹ 34,511.30Cr
1Y Returns
6.78%
Expense Ratio
0.18%
SBI Money Market Fund Direct-Growth
Fund Performance: SBI Money Market Fund Direct-Growth has given 7.36% annualized returns in the past three years and 6.65% in the last 5 years. The SBI Money Market Fund Direct-Growth comes under the Debt category of SBI Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in SBI Money Market Fund Direct-Growth via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.
Min Investment Amt
₹ 500.00
AUM
₹ 33,894.50Cr
1Y Returns
6.52%
Expense Ratio
0.26%
HDFC Money Market Fund Direct-Growth
Fund Performance: HDFC Money Market Fund Direct-Growth has given 7.44% annualized returns in the past three years and 6.72% in the last 5 years. The HDFC Money Market Fund Direct-Growth comes under the Debt category of HDFC Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in HDFC Money Market Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.
Min Investment Amt
₹ 100.00
AUM
₹ 31,370.80Cr
1Y Returns
6.68%
Expense Ratio
0.22%
Aditya Birla Sun Life Money Market Fund Direct-Growth
Fund Performance: Aditya Birla Sun Life Money Market Fund Direct-Growth has given 7.47% annualized returns in the past three years and 6.76% in the last 5 years. The Aditya Birla Sun Life Money Market Fund Direct-Growth comes under the Debt category of Aditya Birla Sun Life Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in Aditya Birla Sun Life Money Market Fund Direct-Growth via lump sum is ₹ 1,000.00 and via SIP is ₹ 1,000.00.
Min Investment Amt
₹ 1,000.00
AUM
₹ 29,876.80Cr
1Y Returns
6.69%
Expense Ratio
0.22%
Kotak Money Market Fund Direct-Growth
Fund Performance: Kotak Money Market Fund Direct-Growth has given 7.43% annualized returns in the past three years and 6.71% in the last 5 years. The Kotak Money Market Fund Direct-Growth comes under the Debt category of Kotak Mahindra Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in Kotak Money Market Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.
Min Investment Amt
₹ 100.00
AUM
₹ 29,764.20Cr
1Y Returns
6.69%
Expense Ratio
0.16%
Nippon India Money Market Fund Direct-Growth
Fund Performance: Nippon India Money Market Fund Direct-Growth has given 7.47% annualized returns in the past three years and 6.77% in the last 5 years. The Nippon India Money Market Fund Direct-Growth comes under the Debt category of Nippon India Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in Nippon India Money Market Fund Direct-Growth via lump sum is ₹ 500.00 and via SIP is ₹ 100.00.
Min Investment Amt
₹ 500.00
AUM
₹ 23,624.50Cr
1Y Returns
6.66%
Expense Ratio
0.22%
Axis Money Market Fund Direct-Growth
Fund Performance: Axis Money Market Fund Direct-Growth has given 7.50% annualized returns in the past three years and 6.76% in the last 5 years. The Axis Money Market Fund Direct-Growth comes under the Debt category of Axis Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in Axis Money Market Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.
Min Investment Amt
₹ 100.00
AUM
₹ 21,405.40Cr
1Y Returns
6.73%
Expense Ratio
0.16%
UTI Money Market Fund Direct-Growth
Fund Performance: UTI Money Market Fund Direct-Growth has given 7.43% annualized returns in the past three years and 6.73% in the last 5 years. The UTI Money Market Fund Direct-Growth comes under the Debt category of UTI Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in UTI Money Market Fund Direct-Growth via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.
Min Investment Amt
₹ 500.00
AUM
₹ 18,782.50Cr
1Y Returns
6.65%
Expense Ratio
0.17%
Bandhan Money Market Fund Direct-Growth
Fund Performance: Bandhan Money Market Fund Direct-Growth has given 7.46% annualized returns in the past three years and 6.67% in the last 5 years. The Bandhan Money Market Fund Direct-Growth comes under the Debt category of Bandhan Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in Bandhan Money Market Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.
Min Investment Amt
₹ 100.00
AUM
₹ 14,089.80Cr
1Y Returns
6.76%
Expense Ratio
0.10%
DSP Money Market Fund Direct Plan-Growth
Fund Performance: DSP Money Market Fund Direct Plan-Growth has given 7.29% annualized returns in the past three years and 6.46% in the last 5 years. The DSP Money Market Fund Direct Plan-Growth comes under the Debt category of DSP Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in DSP Money Market Fund Direct Plan-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.
Min Investment Amt
₹ 100.00
AUM
₹ 10,991.60Cr
1Y Returns
6.73%
Expense Ratio
0.18%
HSBC Money Market Fund Direct-Growth
Fund Performance: HSBC Money Market Fund Direct-Growth has given 7.36% annualized returns in the past three years and 6.54% in the last 5 years. The HSBC Money Market Fund Direct-Growth comes under the Debt category of HSBC Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in HSBC Money Market Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 1,000.00.
Min Investment Amt
₹ 5,000.00
AUM
₹ 6,992.96Cr
1Y Returns
6.61%
Expense Ratio
0.15%
Invesco India Money Market Fund Direct-Growth
Fund Performance: Invesco India Money Market Fund Direct-Growth has given 7.29% annualized returns in the past three years and 6.46% in the last 5 years. The Invesco India Money Market Fund Direct-Growth comes under the Debt category of Invesco Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in Invesco India Money Market Fund Direct-Growth via lump sum is ₹ 1,000.00 and via SIP is ₹ 1,000.00.
Min Investment Amt
₹ 1,000.00
AUM
₹ 6,607.18Cr
1Y Returns
6.60%
Expense Ratio
0.16%
Bajaj Finserv Money Market Fund Direct-Growth
Fund Performance: Bajaj Finserv Money Market Fund Direct-Growth has given 7.42% annualized returns in the past three years. The Bajaj Finserv Money Market Fund Direct-Growth comes under the Debt category of Bajaj Finserv Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in Bajaj Finserv Money Market Fund Direct-Growth via lump sum is ₹ 1,000.00 and via SIP is ₹ 1,000.00.
Min Investment Amt
₹ 1,000.00
AUM
₹ 5,325.89Cr
1Y Returns
6.66%
Expense Ratio
0.13%
LIC MF Money Market Fund Direct-Growth
Fund Performance: LIC MF Money Market Fund Direct-Growth has given 6.84% annualized returns in the past three years. The LIC MF Money Market Fund Direct-Growth comes under the Debt category of LIC Mutual Fund.
Minimum Investment Amount: The minimum amount required to invest in LIC MF Money Market Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 200.00.
Min Investment Amt
₹ 5,000.00
AUM
₹ 4,215.78Cr
1Y Returns
6.77%
Expense Ratio
0.16%
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