The table below shows the Best Money Market Funds based on AUM, NAV, and minimum SIP.
| Name | AUM | Minimum Lump Sum | NAV |
| SBI Savings Fund | 19387.50 | 500.00 | 39.11 |
| HDFC Money Market Fund | 17088.23 | 100.00 | 5124.06 |
| Kotak Money Market Fund | 15748.10 | 100.00 | 3984.64 |
| ICICI Pru Money Market Fund | 15516.20 | 500.00 | 337.65 |
| Aditya Birla SL Money Manager Fund | 15103.34 | 1000.00 | 329.32 |
| Tata Money Market Fund | 14824.67 | 5000.00 | 4217.69 |
| Nippon India Money Market Fund | 11608.96 | 500.00 | 3692.86 |
| UTI Money Market Fund | 10839.36 | 500.00 | 2743.36 |
| Axis Money Market Fund | 7785.13 | 5000.00 | 1268.02 |
| DSP Savings Fund | 4981.89 | 100.00 | 47.86 |
Contents:
- Top Money Market Funds
- Best Performing Money Market Funds
- Top Money Market Mutual Funds
- Best Money Market Funds India
- Best Money Market Funds- FAQs
- Introduction to Best Money Market Funds
Top Money Market Funds
The table below shows the Top Money Market Funds based on lowest to highest expense ratio.
| Name | Expense Ratio |
| Franklin India Money Market Fund | 0.09 |
| PGIM India Money Market Fund | 0.15 |
| TRUSTMF Money Market Fund | 0.16 |
| Tata Money Market Fund | 0.17 |
| Axis Money Market Fund | 0.17 |
| LIC MF Money Market Fund | 0.18 |
| UTI Money Market Fund | 0.20 |
| ICICI Pru Money Market Fund | 0.21 |
| Aditya Birla SL Money Manager Fund | 0.21 |
| Bandhan Money Manager Fund | 0.22 |
Best Performing Money Market Funds
The table below shows Best Performing Money Market Funds based on Highest 3Y CAGR.
| Name | CAGR 3Y |
| Tata Money Market Fund | 5.38 |
| Aditya Birla SL Money Manager Fund | 5.27 |
| Nippon India Money Market Fund | 5.27 |
| Axis Money Market Fund | 5.23 |
| UTI Money Market Fund | 5.22 |
| HDFC Money Market Fund | 5.21 |
| PGIM India Money Market Fund | 5.18 |
| SBI Savings Fund | 5.17 |
| Kotak Money Market Fund | 5.16 |
| ICICI Pru Money Market Fund | 5.14 |
Top Money Market Mutual Funds
The table below shows Top Money Market Mutual Funds based on exit load i.e. the fee that the AMC charges investors when exiting or redeeming their fund units.
| Name | Exit Load | AMC |
| HDFC Money Market Fund | 0.00 | HDFC Asset Management Company Limited |
| PGIM India Money Market Fund | 0.00 | PGIM India Asset Management Private Limited |
| Kotak Money Market Fund | 0.00 | Kotak Mahindra Asset Management Company Limited |
| ICICI Pru Money Market Fund | 0.00 | ICICI Prudential Asset Management Company Limited |
| Bandhan Money Manager Fund | 0.00 | Bandhan AMC Limited |
| Franklin India Money Market Fund | 0.00 | Franklin Templeton Asset Management (India) Private Limited |
| Invesco India Money Market Fund | 0.00 | Invesco Asset Management Company Pvt Ltd. |
| DSP Savings Fund | 0.00 | DSP Investment Managers Private Limited |
| HSBC Money Market Fund | 0.00 | HSBC Global Asset Management (India) Private Limited |
| Edelweiss Money Market Fund | 0.00 | Edelweiss Asset Management Limited |
Best Money Market Funds India
The table below shows the Best Money Market Funds in India based on Absolute 1 Year Return and AMC.
| Name | Absolute Returns – 1Y | AMC |
| Tata Money Market Fund | 7.66 | Tata Asset Management Private Limited |
| Aditya Birla SL Money Manager Fund | 7.60 | Aditya Birla Sun Life AMC Limited |
| Axis Money Market Fund | 7.55 | Axis Asset Management Company Ltd. |
| UTI Money Market Fund | 7.52 | UTI Asset Management Company Private Limited |
| Nippon India Money Market Fund | 7.52 | Nippon Life India Asset Management Limited |
| HDFC Money Market Fund | 7.51 | HDFC Asset Management Company Limited |
| SBI Savings Fund | 7.48 | SBI Funds Management Limited |
| PGIM India Money Market Fund | 7.47 | PGIM India Asset Management Private Limited |
| Franklin India Money Market Fund | 7.46 | Franklin Templeton Asset Management (India) Private Limited |
| ICICI Pru Money Market Fund | 7.46 | ICICI Prudential Asset Management Company Limited |
Best Money Market Funds- FAQs
1. What are the best money market funds right now?
Best Money Market Funds #1: Aditya Birla SL Money Manager Fund
Best Money Market Funds #2: HDFC Money Market Fund
Best Money Market Funds #3: SBI Savings Fund
Best Money Market Funds #4: Kotak Money Market Fund
Best Money Market Funds #5: ICICI Pru Money Market Fund
These funds are listed based on the Highest AUM.
2. Is a Money Market Fund safe?
Due to their relatively low risk and easy accessibility, money market funds are favored for short-term cash management and capital preservation.
3. How to invest in MMF?
Step 1: Log in to your Alice Blue Mutual Fund account.
Step 2: Go to the Mutual Funds section.
Step 3: Find the specific Mutual Fund you intend to invest in.
Step 4: Choose the desired Mutual Fund and click on either the “Buy Direct” or “Direct SIP” button.
Step 5: Specify the amount you wish to invest.
Step 6: Your order will now be added to your “Cart”.
Step 7: Access the “Cart”, select the funds by checking the respective boxes, and provide necessary details such as payment type and other required information.
Step 8: Review your order details and confirm the investment.
4. What is the safest type of money market fund?
These funds are categorized based on the highest Compound Annual Growth Rate (CAGR) over the past three years.
| Name | CAGR 3Y |
| Tata Money Market Fund | 6.06 |
| Nippon India Money Market Fund | 5.97 |
| Aditya Birla SL Money Manager Fund | 5.97 |
| Axis Money Market Fund | 5.92 |
| UTI Money Market Fund | 5.91 |
5. What is the best way to invest in the money market?
Money market funds are accessible for investors with a 90-365 day investment horizon. These funds facilitate portfolio diversification and enable the investment of excess cash while ensuring liquidity. It is essential to align your investments with your predetermined investment strategy.
Introduction to Best Money Market Funds
Best Money Market Funds – AUM, NAV
SBI Savings Fund
The SBI Savings Fund-Growth, offered by SBI Mutual Fund, is a money market mutual fund scheme that has been operational for 19 years and 3 months. Currently, it manages assets worth ₹19387 crores.
HDFC Money Market Fund
The HDFC Money Market Fund Direct Plan-Growth, provided by HDFC Mutual Fund, is a money market mutual fund scheme with a tenure of 10 years and 9 months. Presently, it oversees assets totaling ₹17088 crores.
Kotak Money Market Fund
The Kotak Money Market Fund Direct-Growth, offered by Kotak Mahindra Mutual Fund, has a tenure of 10 years and 9 months. Currently, it manages assets worth ₹15748 crores.
Top Money Market Funds – Expense Ratio
TRUSTMF Money Market Fund
The TRUSTMF Money Market Fund Direct – Growth, provided by Trust Mutual Fund, is a money market mutual fund scheme with a duration of 1 year and 2 months. It boasts an expense ratio of 0.16.
PGIM India Money Market Fund
The PGIM India Money Market Fund Direct – Growth, offered by PGIM India Mutual Fund, has a track record of 3 years and 7 months. It comes with an expense ratio of 0.15.
Franklin India Money Market Fund
The Franklin India Money Market Fund Direct-Growth, managed by Franklin Templeton Mutual Fund, has been active for 10 years and 9 months. It carries an expense ratio of 0.09.
Best Performing Money Market Funds – CAGR 3Y
Tata Money Market Fund
The Tata Money Market Fund Direct-Growth, offered by Tata Mutual Fund, has a tenure of 10 years and 9 months. It has achieved a Compound Annual Growth Rate (CAGR) of 5.38% over the past 3 years.
Aditya Birla SL Money Manager Fund
The Aditya Birla Sun Life Money Manager Fund-Growth, managed by Aditya Birla Sun Life Mutual Fund, has a history of 18 years. It has achieved a Compound Annual Growth Rate (CAGR) of 5.27% over the past 3 years.
Nippon India Money Market Fund
The Nippon India Money Market Fund Direct-Growth, offered by Nippon India Mutual Fund, has a tenure of 10 years and 9 months. It has achieved a Compound Annual Growth Rate (CAGR) of 5.27% over the past 3 years.
Top Money Market Mutual Funds – Exit Load
Bandhan Money Manager Fund
The Bandhan Money Manager Fund Direct-Growth, managed by Bandhan Mutual Fund, has a tenure of 10 years and 9 months. Notably, it does not impose any exit load fees upon redemption.
Invesco India Money Market Fund
The Invesco India Money Market Fund Direct-Growth, offered by Invesco Mutual Fund, has a tenure of 10 years and 9 months. It is worth noting that this fund does not charge any exit load fees, making it convenient for investors to redeem their investments without any additional charges.
DSP Savings Fund
The DSP Equity Savings Fund Direct-Growth, managed by DSP Mutual Fund, has a history of 7 years and 7 months. Importantly, this fund does not impose any exit load fees, providing investors the flexibility to redeem their investments without incurring any additional charges.
Best Money Market Funds India – Absolute Returns – 1Y
Axis Money Market Fund
The Axis Money Market Fund Direct-Growth, offered by Axis Mutual Fund, has been operational for 4 years and 2 months. It has delivered an absolute return of 7.55% over the past year.
UTI Money Market Fund
The UTI Money Market Fund Direct-Growth, managed by UTI Mutual Fund, has a tenure of 10 years and 9 months. It has delivered an absolute return of 7.52% over the past year.
ICICI Pru Money Market Fund
The ICICI Prudential Money Market-Growth, offered by ICICI Prudential Mutual Fund, has a history of 17 years and 7 months. It has delivered an absolute return of 7.46% over the specified time period.
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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change over time.
