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

Bank of India Overnight Fund Direct Growth Plan is at ₹1,402.6098 as of 15 Sep 2026, with an AUM of ₹108 Cr. Its 1-year, 3-year and 5-year returns are 5.51%, 6.21% and 5.83%, and the fund sits in the Low Risk category.

Our view is that this is a steady, ultra-short-duration style option for conservative investors who want cash-like deployment rather than return chasing. The portfolio is dominated by repo and treasury-bill exposure, so the fund’s profile is defined more by stability and liquidity management than by aggressive growth.

Quick facts

Particular	Details
NAV	₹1,402.6098 as of 15 Sep 2026
AUM	₹108 Cr
Expense Ratio	0.08%
Launch Date	28 Jan 2020
Risk Category	Low Risk
Benchmark	Nifty 50
Fund Category	Liquid
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	0.4%	-4.81%
3M	1.27%	-3.63%
1Y	5.51%	-8.27%
3Y	6.21%	5.59%
5Y	5.83%	5.58%

The recent profile looks calm rather than volatile. Over the last 1M and 3M periods, the fund has produced small positive returns while the benchmark has been negative, which tells us the fund has behaved defensively in short windows.

The longer record is also stable. The 1-year return is 5.51%, while the 3-year and 5-year returns are 6.21% and 5.83%, so the return pattern has stayed in a narrow band instead of swinging sharply. That kind of path is typical of a portfolio built for liquidity and capital preservation, not for rapid appreciation.

Against the benchmark, the fund is ahead across every displayed period. The gap is especially clear over 1Y, where the benchmark return is negative, and it remains positive over 3Y and 5Y as well. For investors, the main takeaway is that this fund has protected the return profile better than the benchmark during weaker market phases.

The 3Y figure is slightly above the 5Y figure, which suggests the recent multi-year phase has been a bit better than the full five-year average. Still, the differences are modest, and that steadiness is more important than a headline burst of performance for a liquid-style fund.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Bank of India Overnight?

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
Bank of India Overnight Fund Direct Growth Plan	5.51%	6.21%	5.83%
360 ONE Overnight Fund Direct Growth Plan	5.32%	Data not available	Data not available
Baroda BNP Paribas Overnight Fund Direct Growth Plan	5.3%	6.08%	5.72%
Nippon India Overnight Fund Direct Growth Plan	5.29%	6.09%	5.73%
DSP Overnight Fund Direct Growth Plan	5.28%	6.08%	5.72%

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

On the 1-year view, the fund is ahead of the peer set in this table, though the differences are not large. That tells us the recent run has been solid rather than exceptional, but still slightly better than the other listed overnight funds on a simple return basis.

Over 3 years, it remains ahead of the other peers with available figures, while the 5-year return is also a touch higher than the comparable peer numbers shown here. So the short-term and longer-term comparisons tell the same story: the fund has been consistently competitive rather than only benefiting from a brief recent spell.

One nuance is that 360 ONE Overnight Fund Direct Growth Plan has no usable 3Y or 5Y figure in this table, so we do not read too much into that row beyond the 1-year outcome. Even after that caveat, the available comparison suggests this fund has delivered a very steady return profile.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Repo	Cash & Cash Equivalents and Net Assets	92.96%
182 Days Tbill (MD 18/09/2026)	Treasury Bills	3.68%
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	1.8%
TREPS	Cash & Cash Equivalents and Net Assets	1.57%

The largest holding is Repo at 92.96%, which is overwhelmingly dominant and is likely to have the greatest influence on day-to-day portfolio behaviour. That single position tells us the fund is built for liquidity first, with only a small slice in other instruments.

The weight drops sharply after the top line. The next holding is Treasury Bills at 3.68%, and the remaining disclosed positions are 1.8% and 1.57%, so the portfolio is not spread evenly across many moving parts. Instead, it is anchored by a very large cash-equivalent allocation with a few small supporting lines.

Because the table includes all four disclosed holdings and they sum to 100%, there is no long tail here to inspect. Our view is that this level of concentration may reduce complexity, but it also means the fund’s performance is likely to track short-term money-market style conditions rather than diversified market movements.

Source data date: as of 15 Sep 2026

Who should invest

This fund suits investors with a very low risk tolerance who want short-horizon parking for money rather than equity-like growth. The Low Risk label, the tight return pattern and the heavy repo and treasury-bill mix all point to a conservative profile.

It is more relevant for investors who value stability, liquidity and predictability over chasing higher returns. The main trade-off is that the fund’s return potential is naturally limited by its defensive structure, so it may not suit those who need meaningful upside over longer horizons.

On a benchmark basis, it has held up well across the displayed periods, and its peer comparison is also steady. That makes it more appealing as a liquidity-oriented holding than as a core wealth-creation vehicle.

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 Overnight Fund Direct Growth Plan?
The current NAV is ₹1,402.6098 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 5.51%, the 3-year return is 6.21% and the 5-year return is 5.83%.

How does the fund compare with its benchmark?
It has been ahead of the benchmark in every displayed period. The gap is most visible in the 1-year figure, where the benchmark return is negative.

How does it compare with the peer funds shown here?
Its 1-year, 3-year and 5-year returns are slightly better than the comparable figures shown for the other listed overnight funds, although the differences are modest.

Is there a minimum SIP amount?
A minimum SIP amount is not listed here.

Who manages the fund and what is the exit load?
The fund is managed by Mithraem Bharucha, and the exit load is nil.

Bottom line

Bank of India Overnight Fund Direct Growth Plan has shown a steadier longer-term pattern than its benchmark and has also stayed slightly ahead of the peer returns shown here. The recent numbers do not look flashy, but they are consistent with a low-risk, liquidity-first fund. Its portfolio is heavily concentrated in repo exposure, which reinforces that profile and keeps the fund close to cash-management behavior rather than market-style volatility.

Published on 16 September 2026 at 2:44 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.