Equity savings funds in India
24 live funds in the Equity Savings category, ordered by 5-year return, highest first; HSBC Equity Savings Fund leads. Funds younger than five years follow by name. Returns are for the plan each fund's page leads with, Direct where the fund has one, to each fund's latest NAV, the newest of them on 28 Oct 2026; 3 and 5 year returns are a year, compounded.
- Category median, 1 yearCategory median, 1 year. The middle return among the Equity Savings category's funds, each over the same window to its own latest NAV, on their Direct plans.
- +1.40%Middle of 24 funds
- Category median, 3 yearsCategory median, 3 years. The middle return among the Equity Savings category's funds, each over the same window to its own latest NAV, on their Direct plans; a year, compounded.
- +8.13%Middle of 21 funds
- Category median, 5 yearsCategory median, 5 years. The middle return among the Equity Savings category's funds, each over the same window to its own latest NAV, on their Direct plans; a year, compounded.
- +7.21%Middle of 21 funds
Equity Savings funds
Size is the average money the fund managed over its latest quarter. Cost is its yearly expense ratio.Filter them in the screener
HSBC Equity Savings FundHSBC Mutual FundNAV₹40.619527 Oct 20261Y+5.54%3Y+12.65%5Y+10.58%Size₹1,388 CrCost1.41%
Kotak Equity Savings FundKotak Mahindra Mutual FundNAV₹29.859027 Oct 20261Y+0.29%3Y+9.36%5Y+9.16%Size₹10,518 CrCost1.09%
Edelweiss Equity Savings FundEdelweiss Mutual FundNAV₹30.164027 Oct 20261Y+5.01%3Y+10.85%5Y+9.09%Size₹1,592 CrCost1.08%
Mirae Asset Equity Savings FundMirae Asset Mutual FundNAV₹22.738027 Oct 20261Y+2.31%3Y+9.87%5Y+8.38%Size₹2,018 CrCost0.73%
Sundaram Equity Savings FundSundaram Mutual FundNAV₹81.871527 Oct 20261Y−2.43%3Y+8.54%5Y+8.20%Size₹1,012 CrCost1.35%
Mahindra Manulife Equity Savings FundMahindra Manulife Mutual FundNAV₹25.28151Y+2.32%3Y+9.15%5Y+7.89%Size₹531 CrCost1.28%
UTI Equity Savings FundUTI Mutual FundNAV₹19.954727 Oct 20261Y+0.06%3Y+7.95%5Y+7.88%Size₹833 CrCost1.04%
Baroda BNP Paribas Equity Savings FundBaroda BNP Paribas Mutual FundNAV₹18.405627 Oct 20261Y+1.31%3Y+9.05%5Y+7.78%Size₹285 CrCost1.71%
SBI Equity Savings FundSBI Mutual FundNAV₹27.160027 Oct 20261Y+1.02%3Y+7.73%5Y+7.75%Size₹5,539 CrCost1.46%
HDFC Equity Savings FundHDFC Mutual FundNAV₹75.456027 Oct 20261Y−0.05%3Y+8.13%5Y+7.50%Size₹5,699 CrCost1.29%
Axis Equity Savings FundAxis Mutual FundNAV₹26.250027 Oct 20261Y+2.22%3Y+9.28%5Y+7.21%Size₹881 CrCost1.56%
DSP Equity Savings FundDSP Mutual FundNAV₹24.864027 Oct 20261Y−0.10%3Y+8.13%5Y+7.21%Size₹3,334 CrCost1.10%
ICICI Prudential Equity Savings FundICICI Prudential Mutual FundNAV–1Y+1.49%3Y+6.83%5Y+7.16%Size₹15,905 CrCost1.12%
Invesco India Equity Savings FundInvesco Mutual FundNAV₹18.670627 Oct 20261Y−2.17%3Y+8.35%5Y+6.92%Size₹284 CrCost1.51%
LIC MF Equity Savings FundLIC Mutual FundNAV₹31.967927 Oct 20261Y−0.24%3Y+8.27%5Y+6.75%Size₹38 CrCost1.86%
Bandhan Equity Savings FundBandhan Mutual FundNAV₹36.232027 Oct 20261Y+2.84%3Y+7.01%5Y+6.51%Size₹401 CrCost0.63%
Franklin India Equity Savings FundFranklin Templeton Mutual FundNAV₹18.669627 Oct 20261Y+2.13%3Y+7.17%5Y+6.48%Size₹590 CrCost0.82%
Aditya Birla Sun Life Equity Savings FundAditya Birla Sun Life Mutual FundNAV₹25.71001Y+2.68%3Y+7.58%5Y+6.27%Size₹1,126 CrCost1.19%
Nippon India Equity Savings FundNippon India Mutual FundNAV₹17.898327 Oct 20261Y−0.25%3Y+6.32%5Y+6.03%Size₹789 CrCost0.99%
PGIM India Equity Savings FundPGIM India Mutual FundNAV₹57.439227 Oct 20261Y+1.17%3Y+6.17%5Y+5.67%Size₹59 CrCost1.12%
Union Equity Savings FundUnion Mutual FundNAV₹17.890027 Oct 20261Y+0.45%3Y+6.54%5Y+5.56%Size₹119 CrCost2.11%
Bajaj Finserv Equity Savings FundBajaj Finserv Mutual FundNAV₹10.451027 Oct 20261Y+3.47%3Y–5Y–Size₹40 CrCost1.05%
quant Equity Savings Fundquant Mutual FundNAV₹10.880527 Oct 20261Y+6.45%3Y–5Y–Size₹57 CrCost2.02%
WhiteOak Capital Equity Savings FundWhiteOak Capital Mutual FundNAV₹11.670027 Oct 20261Y+3.86%3Y–5Y–Size₹271 CrCost1.53%
Tax on equity savings funds
Tax depends on the fund's own mix. With 65% or more in shares of listed Indian companies, gains on units held over 12 months are taxed at 12.5% above ₹1.25 lakh a year, and gains on units held 12 months or less at 20%; with more than 65% in debt and money market instruments, gains on units bought on or after 1 Apr 2023 are taxed at the income tax slab rate however long they are held, and on units bought earlier at 12.5% after 24 months; otherwise, gains on units held over 24 months are taxed at 12.5%, and gains on units held 24 months or less at the income tax slab rate.
Rules in force from 1 Apr 2025, checked 27 Oct 2026. Surcharge and cess are not included.
About equity savings funds in India
Equity savings funds in India are open-ended mutual funds that hold equity, arbitrage positions and debt together. SEBI requires at least 65% of assets in equity and equity-related instruments, with net equity exposure of 15% to 40%, and at least 10% in debt.
What SEBI requires
SEBI's categorisation circular of 26 Feb 2026 sets four limits for the category. Equity and equity-related instruments must make up at least 65% of total assets. Net equity exposure must stay between 15% and 40% of total assets. Debt must be at least 10% of total assets. Each scheme must state its limit on arbitrage exposure and its minimum hedged and unhedged exposure in its scheme information document.
Net equity exposure is the equity a fund holds less the equity it has sold through futures. The 65% figure counts every share held, including those offset by a futures sale, so it sits well above the net figure.
How the three parts work
Arbitrage means buying a share in the cash market and selling its future at the same time, so the price move cancels out and the gap between the two prices is the return. Such a position is hedged: its equity exposure is offset. Shares held without a matching sale are unhedged, and these make up the net equity part. Debt holdings supply interest income.
The mix varies by fund, because each scheme states its own arbitrage limit and hedged and unhedged floor.
Difference from neighbouring categories
An arbitrage fund must also hold at least 65% in equity and related instruments, but it follows an arbitrage strategy only and its debt is limited to certificates of deposit, government securities maturing within a year and units of funds with a Macaulay duration under one year. An equity savings fund adds unhedged equity and a debt allocation. An aggressive hybrid fund holds 65% to 80% in equity with no hedging requirement, and 20% to 35% in debt.
Tax treatment
A fund counts as equity-oriented for tax when at least 65% of its assets are in equity. Gains on units sold after more than 12 months are taxed at 12.5% on the amount above ₹1.25 lakh in a year, and gains on units sold within 12 months at 20%.
How this page lists the funds
The page lists every live fund in the category, ordered by 5-year return, highest first. Returns use each fund's Direct plan (the plan without distributor commission) where one exists, measured to the latest NAV, and the 3-year and 5-year figures are compounded yearly. Funds under five years old follow the others, sorted by name. Size is the average money managed over the latest quarter, and cost is the yearly expense ratio. Category medians are the middle return among funds with data for each window.