Bank of India Money Market Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Bank of India Money Market Fund Direct Growth Plan had a NAV of ₹11.1915 as of 15 Sep 2026 and managed ₹442 Cr. Its 1-year, 3-year and 5-year returns are 6.75%, Data not available and Data not available, and the fund sits in the Balanced Risk category.

Our view is that this is a short-duration debt option with modest recent compounding and a fairly steady portfolio structure, but the return history is still too short to judge through a full multi-year cycle. It may suit investors who want a debt fund with limited equity-style volatility and who are comfortable with a benchmark that has moved very differently over the same periods.

Quick facts

Particular	Details
NAV	₹11.1915 as of 15 Sep 2026
AUM	₹442 Cr
Expense Ratio	0.11%
Launch Date	04 Feb 2025
Min SIP	₹1,000
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Mithraem Bharucha

The fund is managed by Mithraem Bharucha.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.49%	-4.81%
3M	1.86%	-3.63%
1Y	6.75%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Over the last month, the fund has been close to flat to slightly positive while the benchmark has been weaker. That pattern is repeated over three months and one year, where the fund’s returns remain positive and the benchmark is negative. For a debt scheme, that kind of relative stability is useful, because it suggests the portfolio has not been dragged around by the same moves that affected the benchmark.

The 1-year return of 6.75% is the only fully meaningful longer-period figure available here, so our read is necessarily limited. Even so, the trend from the series is more consistent than volatile, with gradual improvement rather than sharp swings. That is what investors usually want from a money-market style debt fund: steady accrual rather than dramatic short-term jumps.

At the same time, the benchmark comparison is not straightforward because the benchmark itself has been negative across 1M, 3M and 1Y. So the fund looks better on relative terms, but that relative edge should be interpreted carefully. It tells us more about the benchmark’s weakness than about the fund being a high-return product.

Because there is no usable 3-year or 5-year figure, we would not treat this as a long-history compounder. The more practical interpretation is that the fund has shown stable near-term behaviour, while the longer-term evidence remains incomplete.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Bank of India Money Market?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Union Money Market Fund Direct Growth Plan	6.82%	7.22%	6.48%
Bank of India Money Market Fund Direct Growth Plan	6.75%	Data not available	Data not available
Tata Money Market Fund Direct Growth Plan	6.73%	7.55%	6.84%
Bandhan Money Market Fund Direct Growth Plan	6.69%	7.42%	6.67%
LIC MF Money Market Fund Direct Growth Plan	6.69%	6.81%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s 1-year return is close to the peer group’s better readings, but it is marginally below Union Money Market Fund Direct Growth Plan and slightly above Tata Money Market Fund Direct Growth Plan and Bandhan Money Market Fund Direct Growth Plan. That keeps the short-term picture broadly competitive without making it stand out on the numbers alone. On longer periods, the comparison is limited because this fund does not have usable 3-year or 5-year figures, while several peers do.

That difference matters. Peers with published 3-year and 5-year data show more complete compounding histories, so their longer-run picture is easier to assess. By contrast, this fund currently tells a shorter story: acceptable recent return, but incomplete multi-period evidence. For investors comparing debt options, the short-term behaviour looks steady enough, while the longer-term peer comparison remains more informative for funds with a longer track record.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Union Bank of India (19/01/2027) ** #	Certificate of Deposit	5.51%
364 Days Tbill (MD 25/02/2027)	Treasury Bills	5.50%
Kotak Mahindra Bank Limited (04/02/2027) ** #	Certificate of Deposit	5.49%
Axis Bank Limited (12/02/2027) ** #	Certificate of Deposit	5.48%
Axis Finance Limited (12/02/2027) **	Commercial Paper	5.47%
Kotak Securities Limited (12/02/2027) **	Commercial Paper	5.47%
HDFC Bank Limited (05/03/2027) ** #	Certificate of Deposit	5.46%
Manappuram Finance Limited (10/02/2027) **	Commercial Paper	5.46%
National Bank for Agriculture and Rural Development (05/03/2027) ** #	Certificate of Deposit	5.46%
ICICI Bank Limited (25/03/2027) ** #	Certificate of Deposit	5.44%

The largest holding is 5.51%, which is not especially large for a debt portfolio that spreads money across multiple short-dated instruments. The gap from the first holding to the tenth is small, at just 0.07 percentage points, so the top layer is tightly clustered rather than dominated by one outsized position.

The displayed ten holdings together account for 54.74% of the portfolio, and the fund discloses 29 holdings in total. That suggests a reasonably broad spread beyond the top names, even though the first ten still carry meaningful weight. In practical terms, the portfolio may be influenced by several large positions rather than a single dominant exposure, which can help reduce reliance on any one issuer.

For investors, the main takeaway is that the structure looks disciplined and diversified across short-term debt instruments. The mix of certificate of deposit, treasury bill and commercial paper holdings may support stability, but it also means the fund’s outcome depends on the credit and rate environment faced by those instruments.

To see all holdings, visit the Bank of India Money Market Fund Direct Growth Plan page

Source data date: as of 15 Sep 2026

Who should invest

This fund fits investors who are comfortable with a debt fund carrying a Balanced Risk label and who want a short-term parking option rather than a long-horizon growth engine. The recent return pattern is stable, and the benchmark comparison is favourable over the available periods, but the absence of usable 3-year and 5-year figures means the longer history is not yet fully established.

It may suit investors with a relatively short investment horizon and a preference for modest, steady movement over sharp price swings. The key trade-off is that the fund appears steadier than its benchmark, but it does not have the kind of long compounding record that lets us assess it across full market cycles.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: No exit load

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of Bank of India Money Market Fund Direct Growth Plan?
The current NAV is ₹11.1915 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 6.75%. The 3-year and 5-year returns are Data not available.

How has the fund performed against the benchmark?
It has outperformed the benchmark over 1M, 3M and 1Y. The benchmark returns are negative over those same periods, while the fund stays positive.

How does it compare with peer funds on available return data?
Its 1-year return is close to the stronger peer readings, but several peers have longer 3-year and 5-year histories that make their longer-run performance easier to assess.

What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.

Who manages the fund and what is the exit load?
The fund is managed by Mithraem Bharucha. There is no exit load.

Bottom line

Bank of India Money Market Fund Direct Growth Plan has shown a steadier recent pattern than its benchmark, but the longer-run story is still incomplete because usable 3-year and 5-year returns are not available. Against peers, the 1-year number is broadly competitive, though other funds in the set offer fuller longer-term histories. The portfolio is spread across many short-dated debt instruments, with the top ten holdings accounting for 54.74% of assets and no single holding dominating the structure.

Published on 16 September 2026 at 12:47 PM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.