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Bank of India Ultra Short Term Fund

Q: What is the NAV of Bank of India Ultra Short Term Fund?

As of 01 Oct 2026, the NAV of Bank of India Ultra Short Term Fund is ₹3,523.45 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Bank of India Ultra Short Term Fund delivered?

Bank of India Ultra Short Term Fund has returned +6.51% over 1 year, +6.92% per year over 3 years, +6.27% per year over 5 years and +6.95% 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 Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term Fund charges an expense ratio of 0.42% 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 Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term Fund's largest holdings are Bajaj Finance Limited (02/09/2026) (8.7%), 6.27% Power Finance Corporation Limited (15/07/2027) (7.5%), Kotak Mahindra Bank Limited (21/12/2026) (7.5%), 7.59% REC Limited (31/05/2027) (6.5%) and Indian Bank (04/12/2026) (6.4%). Holdings are disclosed monthly and change over time.

Q: How risky is Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term 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 -0.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term Fund is benchmarked against the CRISIL Ultra Short Duration Debt A-I Index. Its alpha and beta on this page are measured against that index.

Q: Who manages Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term Fund is managed by Mithraem Bharucha at Bank of India.

Q: How is Bank of India Ultra Short Term Fund taxed?

Bank of India Ultra Short Term 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.

Bank of India Mutual Fund · Best Ultra Short Duration Mutual Funds

NAV

₹3,523.45

+0.03% 1D

as of 01 Oct 2026

This is the Direct plan of Bank of India Ultra Short Term Fund — bought from the fund house, with no distributor commission in its expense ratio.

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NAV history

+6.52%CAGR

52-week rangePrev NAV ₹3,522.22

Latest ₹3,523.45

Low ₹3,308.13100th percentile of its 52-week rangeHigh ₹3,523.45

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.

PerformanceBelow avg

3Y CAGR +6.92% · ranks 23 of 25 Ultra Short Duration Funds

RiskModerate

Volatility 0.4% vs 0.4% category avg

CostHigh

0.4% 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

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

Concerns

High expense ratio (0.42%) vs the Ultra Short Duration Fund average of 0.30%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.42%

Category 0.30%▲0.12%

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

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.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹1,000

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

CRISIL Ultra Short Duration Debt A-I Index

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.

27 Jun 2014

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.50%

Absolute return over the last 3 months (not annualized)

+1.50%

Absolute return over the last 6 months (not annualized)

+3.50%

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

+4.99%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.51%

3-year annualized return (CAGR)

+6.92%

5-year annualized return (CAGR)

+6.27%

10-year annualized return (CAGR)

+6.45%

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.

+6.95%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.38%

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

-0.76%

Benchmark ratios

Not shown for Ultra Short Duration 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 (Ultra Short Duration Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.50%	+0.51%	-0.01%
3M abs	+1.50%	+1.53%	-0.03%
6M abs	+3.50%	+3.57%	-0.07%
1Y CAGR	+6.51%	+6.50%	+0.01%
3Y CAGR	+6.92%	+7.23%	-0.31%
5Y CAGR	+6.27%	+6.56%	-0.29%

Category average across peers in Ultra Short Duration Fund (up to 27 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 27 peers in Ultra Short Duration Fund

1Y return

+6.51%

Beats 42.3% · rank #16

3Y return

+6.92%

Beats 8.3% · rank #23

5Y return

+6.27%

Beats 8.7% · 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

₹7.08L

Absolute

+18.00%

XIRR

+6.77%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Bank of India Ultra Short Term 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	+4.99%
2025	+7.00%
2024	+7.20%
2023	+6.68%
2022	+4.58%
2021	+3.38%
2020	+5.20%
2019	+7.80%
2018	+7.69%
2017	+8.00%

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

2,962

Expense ratio

0.42%

YTM

6.66%

Macaulay duration

161 days

Average maturity

157 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 · Ultra Short Duration Fund

Compare all


Bank of India Ultra Short Term FundThis fund Bank of India · Direct	—	+6.51%	+6.92%	+6.27%	—	0.42%	—
Nippon India Ultra Short Term Fund Nippon India · Direct · Growth	★★★★☆	+6.97%	+7.58%	+7.00%	—	0.34%	—
Tata Ultra Short Term Fund Tata · Direct · Growth	★★★☆☆	+7.00%	+7.51%	+6.80%	—	0.33%	₹5,343Cr
Aditya Birla Sun Life Ultra Short Term Fund Aditya Birla Sun Life · Direct · Growth	★★★★☆	+6.59%	+7.48%	+6.78%	—	0.32%	—
Axis Ultra Short Term Fund Axis · Direct · Growth	★★★☆☆	+6.76%	+7.44%	+6.80%	—	0.36%	—
Axis Ultra Short Term Fund Axis · Direct · IDCW	—	+6.76%	+7.44%	+6.80%	—	0.36%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt94.92%
Cash & Equivalents5.08%

Cash & cash-like: 6.63% — the 5.08% 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

Bajaj Finance Limited (02/09/2026)

8.68%

Kotak Mahindra Bank Limited (21/12/2026)

7.45%

Indian Bank (04/12/2026)

6.40%

National Bank For Agriculture and Rural Development (17/03/2027)

5.75%

Bank of Baroda (11/12/2026)

5.33%

Small Industries Dev Bank of India (05/02/2027)

5.27%

Axis Bank Limited (12/02/2027)

5.27%

HDFC Bank Limited (24/02/2027)

5.25%

LIC Housing Finance Limited (23/02/2027)

5.25%

Aditya Birla Housing Finance Limited (09/03/2027)

5.24%

AMC Profile

Bank of India Mutual Fund is run by Bank of India Investment Managers, wholly owned by the bank since its former joint-venture partner AXA Investment Managers exited — the house was branded BOI AXA until then. It runs a compact equity, hybrid and debt line-up.

Launched

30 Mar 2008

Total AUM

₹15,446Cr+9.0% QoQ

Avg AUM · April - June 2026

Website

boimf.in

Fund Managers

MBMithraem BharuchaManaging since 17 Aug 2021

Education

BMS; MBA; CFA Level 1 and MCOM Part 1

Experience

Over 15 years of experience in Fixed Income market domain, Investment strategy development, Trade idea generation, Trade execution, Cash Management, Fixed Income portfolio monitoring, Cash flow verification. Experience Details: 1. Bank of India Investment Managers Private Limited (August 17, 2021 - present) 2. YES Asset Management (India) Limited (October 2017 to August 10, 2021) 3. BNP Paribas Asset Management India Pvt. Ltd. (March 2007 to October 2017)

Funds managed (4)

All schemes Mithraem Bharucha 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

Mithraem Bharucha

Bank of India 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 Ultra Short Duration funds

Ultra short duration funds run a Macaulay duration of 3 to 6 months. That is a step out from a liquid fund — slightly more interest-rate sensitivity in exchange for slightly more yield, for money you need in months rather than days.

Frequently asked questions

What is the NAV of Bank of India Ultra Short Term Fund?

As of 01 Oct 2026, the NAV of Bank of India Ultra Short Term Fund is ₹3,523.45 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Bank of India Ultra Short Term Fund delivered?

Bank of India Ultra Short Term Fund has returned +6.51% over 1 year, +6.92% per year over 3 years, +6.27% per year over 5 years and +6.95% 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 Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term Fund charges an expense ratio of 0.42% 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 Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term Fund's largest holdings are Bajaj Finance Limited (02/09/2026) (8.7%), 6.27% Power Finance Corporation Limited (15/07/2027) (7.5%), Kotak Mahindra Bank Limited (21/12/2026) (7.5%), 7.59% REC Limited (31/05/2027) (6.5%) and Indian Bank (04/12/2026) (6.4%). Holdings are disclosed monthly and change over time.

How risky is Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term 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 -0.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term Fund is benchmarked against the CRISIL Ultra Short Duration Debt A-I Index. Its alpha and beta on this page are measured against that index.

Who manages Bank of India Ultra Short Term Fund?

Bank of India Ultra Short Term Fund is managed by Mithraem Bharucha at Bank of India.

How is Bank of India Ultra Short Term Fund taxed?

Bank of India Ultra Short Term 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.