Nippon India Nifty Bank Index Fund Direct Growth

Nippon India Nifty Bank Index Fund Direct Growth is an equity fund. This fund was started on 22 February, 2024. The fund is managed by . The fund could potentially beat inflation in the long-run.

1. Nippon India Nifty Bank Index Fund Direct Growth has ₹161 Cr worth of assets under management (AUM) as on Jun 2025 and is more than category average.
2. The fund has an expense ratio 0.2.
   

Nippon India Nifty Bank Index Fund Direct Growth has given a CAGR return of 16.91% since inception. Over the last 1 year the fund has given a CAGR return of 9.27%.

Nippon India Nifty Bank Index Fund Direct Growth has allocated its funds majorly in Financial Services, Cash Equivalent. Its top holdings are HDFC Bank Ltd, ICICI Bank Ltd, Axis Bank Ltd, State Bank of India, Kotak Mahindra Bank Ltd

As it is a index funds mutual fund the taxation is as follows:
For short term (less than a year) capital gains will be taxed at 20%
For long term (more than 1 year) capital gains will be taxed at 12.5% without indexation benefit
Dividends will always be taxed at slab rate. Long term gains upto Rs 1 lakh are exempt capital gains tax.

The investment objective of the scheme is to provide investment returns that commensurate to the total returns of the securities as represented by the Nifty Bank Index before expenses, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.

Minimum investment for lump sum payment is INR 1000.00 and for SIP is INR 100.00. Nippon India Nifty Bank Index Fund Direct Growth has no lock in period.