DebtMoney Market FundDirectIDCWLow

SBI Money Market Fund

Q: What is the NAV of SBI Money Market Fund?

As of 05 Oct 2026, the NAV of SBI Money Market Fund is ₹19.11 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has SBI Money Market Fund delivered?

SBI Money Market Fund has returned +6.39% over 1 year, +7.31% per year over 3 years, +6.69% per year over 5 years and +4.02% 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 Money Market Fund?

SBI Money Market Fund charges an expense ratio of 0.26% 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 Money Market Fund?

SBI Money Market Fund's largest holdings are ICICI Bank Ltd. (4.5%), National Bank for Financing Infrastructure and Development (4.3%), LIC Housing Finance Ltd. (4.1%), 182 DAY T-BILL 24.12.26 (4.0%) and 364 DAY T-BILL 04.03.27 (3.9%). Holdings are disclosed monthly and change over time.

Q: How risky is SBI Money Market Fund?

SBI Money Market Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.4% and its worst peak-to-trough fall in our sample was -1.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: Who manages SBI Money Market Fund?

SBI Money Market Fund is managed by Rajeev Radhakrishnan, Pradeep Kesavan and R Arun at SBI.

Q: How is SBI Money Market Fund taxed?

SBI Money Market 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 Money Market Mutual Funds

NAV

₹19.11

+0.08% 1D

as of 05 Oct 2026

This is the Direct plan of SBI Money Market Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

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NAV history

+6.36%absolute

52-week rangePrev NAV ₹19.09

Latest ₹19.11

Low ₹17.96100th percentile of its 52-week rangeHigh ₹19.11

Scorecard

Not rated

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. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.

Performance—

Not enough Money Market Fund peers to rank yet

Risk—

Volatility 0.4% (no category average yet)

Cost—

0.3% expense (no category average yet)

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

Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.26%

Category —

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

Direct · IDCW

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

None

Exit Load

None

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.

03 Jan 2013

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)

+1.58%

Absolute return over the last 6 months (not annualized)

+3.61%

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

+4.92%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.39%

3-year annualized return (CAGR)

+7.31%

5-year annualized return (CAGR)

+6.69%

10-year annualized return (CAGR)

+4.94%

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.

+4.02%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.42%

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

-1.76%

Benchmark ratios

Not shown for Money Market 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 (Money Market Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.44%	—	—
3M abs	+1.58%	—	—
6M abs	+3.61%	—	—
1Y CAGR	+6.39%	—	—
3Y CAGR	+7.31%	—	—
5Y CAGR	+6.69%	—	—

Category average across peers in Money Market Fund, 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.

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

₹7.14L

Absolute

+19.02%

XIRR

+7.12%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into SBI Money Market 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	+4.92%
2025	+7.51%
2024	+7.81%
2023	+7.45%
2022	+4.86%
2021	+3.86%
2020	+5.45%
2019	+3.31%
2018	+4.05%
2017	+0.27%

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

3,329

Expense ratio

0.26%

AUM

₹32,054Cr

YTM (from holdings)

6.77%

Average maturity

153 days

Exit load

Nil

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 · Money Market Fund

Compare all


SBI Money Market FundThis fund SBI · Direct · IDCW	—	+6.39%	+7.31%	+6.69%	—	0.26%	₹32,054Cr
Bandhan Money Market Fund Bandhan · Direct · Periodic IDCW	—	+6.66%	+7.45%	+6.75%	—	—	₹13.51L
Mirae Asset Money Market Fund Mirae Asset · Direct · IDCW	—	+6.46%	+7.39%	+6.61%	—	0.11%	₹3,539Cr
UTI - Money Market Fund UTI · Direct · Flexi IDCW	—	+6.52%	+7.38%	+6.76%	—	—	₹1.88L
UTI - Money Market Fund UTI · Direct · Half-Yearly IDCW	—	+6.52%	+7.38%	+6.77%	—	0.17%	₹1,175Cr
UTI - Money Market Fund UTI · Direct · Annual IDCW	—	+6.52%	+7.38%	+6.77%	—	0.17%	₹1,175Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt97.21%
Cash & Equivalents2.49%
Other0.30%

Cash & cash-like: 12.07% — the 2.49% 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

ICICI Bank Ltd.

4.49%

National Bank for Financing Infrastructure and Development

4.35%

LIC Housing Finance Ltd.

4.07%

Union Bank of India

3.05%

Punjab National Bank

3.00%

Jio Credit Ltd.

2.99%

Union Bank of India

2.95%

Punjab National Bank

2.64%

Small Industries Development Bank of India

2.56%

Canara Bank

2.54%

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

₹13,09,607Cr+4.2% QoQ

Avg AUM · July - September 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 →

PKPradeep KesavanManaging since 01 Dec 2023

Education

B.com, MBA (Finance), CFA (USA)

Experience

Mr. Pradeep Kesavan joined SBIFML in July 2021. He has over 18 years of experience in financial services sector. Prior to joining SBIFML, he was associated with following entities-: Elara Securities Private Limited (from September 2017 to April 2021) –Primarily involved in top down equity strategy Accenture Solutions Private Limited (from October 2013 to August 2017) – Responsible for Strategy Consulting. Morgan Stanley India Private Limited (from March 2005 to September 2013) – Primarily responsible for corporate finance strategy. He is the dedicated Fund Manager for managing overseas investments of the Schemes of SBI Mutual Fund which have a mandate to invest in overseas securities and also managing

Funds managed (6)

All schemes Pradeep Kesavan runs →

RAR ArunManaging since 01 Dec 2023

Education

Financial Risk Manager B.Com

Experience

Mr. R. Arun has over 14.5 years of work mutual fund Industry as Credit Research Analyst. He has been associated with SBI Funds Management Ltd. from March 2009 onwards as Credit Analyst. Prior to joining SBI Funds Management, he worked with ING Investment Management, Deutsche Bank Operations India & Crisil as Credit Analyst. Presently, he is also fund manager of SBI Arbitrage Opportunities Fund (Debt), SBI Magnum Low Duration Fund, SBI Overnight Fund, SBI Liquid Fund and

All schemes R Arun 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 Pradeep Kesavan

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 Money Market funds

Money market funds hold only money market instruments — treasury bills, commercial paper, certificates of deposit — maturing within one year. The one-year ceiling is on each instrument, which keeps both interest-rate and credit risk short.

Frequently asked questions

What is the NAV of SBI Money Market Fund?

As of 05 Oct 2026, the NAV of SBI Money Market Fund is ₹19.11 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has SBI Money Market Fund delivered?

SBI Money Market Fund has returned +6.39% over 1 year, +7.31% per year over 3 years, +6.69% per year over 5 years and +4.02% 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 Money Market Fund?

SBI Money Market Fund charges an expense ratio of 0.26% 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 Money Market Fund?

SBI Money Market Fund's largest holdings are ICICI Bank Ltd. (4.5%), National Bank for Financing Infrastructure and Development (4.3%), LIC Housing Finance Ltd. (4.1%), 182 DAY T-BILL 24.12.26 (4.0%) and 364 DAY T-BILL 04.03.27 (3.9%). Holdings are disclosed monthly and change over time.

How risky is SBI Money Market Fund?

SBI Money Market Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.4% and its worst peak-to-trough fall in our sample was -1.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Who manages SBI Money Market Fund?

SBI Money Market Fund is managed by Rajeev Radhakrishnan, Pradeep Kesavan and R Arun at SBI.

How is SBI Money Market Fund taxed?

SBI Money Market 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.