DebtLiquid FundRegularGrowthLow

SBI Liquid Fund

Q: What is the NAV of SBI Liquid Fund?

As of 05 Oct 2026, the NAV of SBI Liquid Fund is ₹4,448.22 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has SBI Liquid Fund delivered?

SBI Liquid Fund has returned +6.37% over 1 year, +6.78% per year over 3 years, +6.24% per year over 5 years and +6.93% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of SBI Liquid Fund?

SBI Liquid Fund charges an expense ratio of 0.32% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of SBI Liquid Fund?

SBI Liquid Fund's largest holdings are 91 DAY T-BILL 10.09.26 (7.0%), HDFC Bank Ltd. (2.7%), Punjab National Bank (2.7%), National Bank for Agriculture and Rural Development (2.6%) and Canara Bank (2.4%). Holdings are disclosed monthly and change over time.

Q: How risky is SBI Liquid Fund?

SBI Liquid Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.1% and its worst peak-to-trough fall in our sample was -0.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: Who manages SBI Liquid Fund?

SBI Liquid Fund is managed by Rajeev Radhakrishnan at SBI.

Q: How is SBI Liquid Fund taxed?

SBI Liquid Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

SBI Mutual Fund · Best Liquid Mutual Funds

NAV

₹4,448.22

+0.02% 1D

as of 05 Oct 2026

This is the Regular plan of SBI Liquid Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+6.37%CAGR

52-week rangePrev NAV ₹4,447.34

Latest ₹4,448.22

Low ₹4,181.91100th percentile of its 52-week rangeHigh ₹4,448.22

Scorecard

★★★☆☆3/5 vs 42 of 45 Liquid Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Liquid Fund (same plan and option). 42 of the 45 Liquid Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +6.78% · ranks 23 of 39 Liquid Funds

RiskLow

Volatility 0.1% vs 0.2% category avg

CostHigh

0.3% expense vs 0.3% category avg

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Less volatile than its Liquid Fund peers (0.1% vs 0.2%)
Consistent — positive in 100% of rolling 3-year windows

Concerns

High expense ratio (0.32%) vs the Liquid Fund average of 0.26%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.32%

Category 0.26%▲0.06%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

—

Category —

Scheme Info

Definitions

Plan

Regular · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

—

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

—

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

—

Benchmark

—

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

23 Mar 2007

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

+0.44%

Absolute return over the last 3 months (not annualized)

+1.50%

Absolute return over the last 6 months (not annualized)

+3.22%

Absolute return since 1 Jan of this year (not annualized)

+4.95%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+6.37%

3-year annualized return (CAGR)

+6.78%

5-year annualized return (CAGR)

+6.24%

10-year annualized return (CAGR)

+5.97%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+6.93%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.15%

Excess return per unit of total volatility (rf = 6.5%)

—

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

—

Largest peak-to-trough decline over full history

-0.17%

Benchmark ratios

Not shown for Liquid Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Liquid Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.44%	+0.44%	0.00%
3M abs	+1.50%	+1.49%	+0.01%
6M abs	+3.22%	+3.16%	+0.06%
1Y CAGR	+6.37%	+6.27%	+0.10%
3Y CAGR	+6.78%	+6.73%	+0.05%
5Y CAGR	+6.24%	+6.18%	+0.06%

Category average across peers in Liquid Fund (up to 45 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 45 peers in Liquid Fund

1Y return

+6.37%

Beats 53.7% · rank #20

3Y return

+6.78%

Beats 42.1% · rank #23

5Y return

+6.24%

Beats 41.7% · rank #22

Sharpe

—

Sortino

—

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.06L

Absolute

+17.59%

XIRR

+6.63%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into SBI Liquid Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	+4.95%
2025	+6.43%
2024	+7.26%
2023	+6.96%
2022	+4.75%
2021	+3.27%
2020	+4.18%
2019	+6.51%
2018	+7.31%
2017	+6.55%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

6,775

Expense ratio

0.32%

AUM

₹77,345Cr

YTM (from holdings)

6.23%

Average maturity

33 days

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Liquid Fund

Compare all


SBI Liquid FundThis fund SBI · Regular · Growth	★★★☆☆	+6.37%	+6.78%	+6.24%	—	0.32%	₹77,345Cr
Franklin India Liquid Fund - Regular Plan - Unclaimed Redemption Franklin Templeton · Regular · Growth	—	+6.52%	+6.97%	+6.39%	—	—	₹57.00K
Bank of India Liquid Fund Bank of India · Regular · Growth	★★★★☆	+6.47%	+6.92%	+6.37%	—	0.15%	₹1,767Cr
Franklin India Liquid Fund - Regular Plan - Super Franklin Templeton · Regular · Institutional · Growth	★★★★★	+6.47%	+6.91%	+6.33%	—	0.20%	₹4,069Cr
Axis Liquid Fund Axis · Regular · Growth	★★★★★	+6.47%	+6.90%	+6.35%	—	0.23%	₹55,968Cr
DSP Liquid Fund DSP · Regular · Growth	★★★★★	+6.44%	+6.87%	+6.30%	—	0.21%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt95.80%
Cash & Equivalents3.98%
Other0.22%

Cash & cash-like: 16.53% — the 3.98% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

HDFC Bank Ltd.

2.68%

Punjab National Bank

2.68%

National Bank for Agriculture and Rural Development

2.63%

Canara Bank

2.37%

Small Industries Development Bank of India

2.15%

HDFC Bank Ltd.

1.95%

National Bank for Agriculture and Rural Development

1.71%

Interise Trust

1.63%

Bank of Baroda

1.62%

Union Bank of India

1.61%

Fund size over time

Quarterly average AUM · AMFI

₹77,345Cr

April - June 2026

+18%

since January - March 2026

+₹10,660Cr

est. net flow, last quarter

At or near its largest, ₹77,345Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

SBI Mutual Fund is a joint venture between the State Bank of India and Amundi of France, and was set up in 1987 as the first fund house in India outside UTI. It is the largest by assets, helped by managing a share of the EPFO's ETF investments.

Launched

28 Jun 1987

Total AUM

₹12,57,352Cr+0.7% QoQ

Avg AUM · April - June 2026

Website

sbimf.com

Fund Managers

RRRajeev RadhakrishnanStart date not disclosed

Role

Chief Investment Officer Fixed Income

Education

B.E (Production). MMS (Finance), CFA

Experience

Total experience of 22 years in funds management. Around 16 years in Fixed Income funds management and dealing. Previously he was associated UTI Asset Management Company Ltd. as Co - Fund Manager Past experiences: • SBI Funds Management Limited - (From June 09, 2008 onwards) • Co - Fund Manager - UTI Asset Management Company Limited (June 2001-2008)

Funds managed (10)

All schemes Rajeev Radhakrishnan runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

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Fund managers

Rajeev Radhakrishnan

SBI in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Liquid funds

Liquid funds invest in very short-term debt (maturing within 91 days). They're used to park money for days or weeks — low risk and easy to redeem, but low return too.

Frequently asked questions

What is the NAV of SBI Liquid Fund?

As of 05 Oct 2026, the NAV of SBI Liquid Fund is ₹4,448.22 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has SBI Liquid Fund delivered?

SBI Liquid Fund has returned +6.37% over 1 year, +6.78% per year over 3 years, +6.24% per year over 5 years and +6.93% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of SBI Liquid Fund?

SBI Liquid Fund charges an expense ratio of 0.32% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of SBI Liquid Fund?

SBI Liquid Fund's largest holdings are 91 DAY T-BILL 10.09.26 (7.0%), HDFC Bank Ltd. (2.7%), Punjab National Bank (2.7%), National Bank for Agriculture and Rural Development (2.6%) and Canara Bank (2.4%). Holdings are disclosed monthly and change over time.

How risky is SBI Liquid Fund?

SBI Liquid Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.1% and its worst peak-to-trough fall in our sample was -0.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Who manages SBI Liquid Fund?

SBI Liquid Fund is managed by Rajeev Radhakrishnan at SBI.

How is SBI Liquid Fund taxed?

SBI Liquid Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.