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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesCompare liquid mutual funds on three separate questions: what they returned over the same past period, what their portfolios hold and risk, and when a redemption gets its applicable NAV versus when cash is paid. Liquid funds are market-linked mutual-fund schemes, not guaranteed deposits; choose using current, comparable scheme information rather than a past-return ranking alone.
Compare returns on the same basis
Returns vary with short-term interest rates and with the tenor and credit quality of a fund’s securities, according to the Association of Mutual Funds in India (AMFI). A higher past return can therefore reflect differences in portfolio composition as well as market conditions; it is not a promise of future performance.
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For a fair comparison, collect each scheme’s return for the same trailing period, as of the same date, and for the same plan type. Match direct plan with direct plan or regular plan with regular plan. Identify whether the figure is annualized where relevant, and use the scheme’s current official factsheet or scheme page for the data. AMFI’s category overview describes liquid funds and their return drivers at Types of Mutual Fund Schemes.
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AMFI states: “Mutual Fund Schemes are not guaranteed or assured return products.” Treat historical returns as one comparison input, not a forecast or a substitute for checking risk and access terms. See Risk in Mutual Funds.
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Compare portfolio risk, not just the liquid-fund label
AMFI describes liquid schemes as investing in money-market instruments with maturities not exceeding 91 days. That category limit does not make every scheme’s holdings identical or eliminate investment risk.
Check each fund’s current portfolio and scheme risk disclosures. Compare the credit quality of holdings and their maturity profile, and consider whether the assets match your tolerance for risk when parking short-term cash. AMFI identifies liquidity risk and default risk among mutual-fund risks, and principal can be lost; liquid-fund status is not a guarantee of capital or immediate access to it. The category description is on AMFI’s scheme types page.
Compare redemption time: NAV cutoff versus cash payout
Two different timings matter when you redeem: the cutoff that determines the applicable NAV, and the time proceeds are paid. The NAV cutoff is not the time cash arrives.
Applicable NAV for a redemption
AMFI says a liquid-fund redemption application received by 3:00 p.m. gets the closing NAV of the day immediately preceding the next business day. An application received after 3:00 p.m. gets the closing NAV of the next business day. These are rules for determining the applicable NAV, not a promise of same-day payment. Check AMFI’s cut-off timings and applicable NAV guidance.
When proceeds are paid
AMFI’s investor guidance says redemption proceeds for liquid and overnight funds are paid the next business day. Treat that as category-level guidance, not instant access: operational details, applicable holidays and any scheme-specific conditions can affect your transaction. Confirm current terms with the scheme and the platform you use. AMFI explains the general payout timing under Advantages of Investing in Mutual Funds.
Subscriptions have a separate NAV rule
If you are comparing how quickly money can be invested as well as withdrawn, purchase timing is a separate issue. AMFI describes a 1:30 p.m. subscription cutoff for liquid funds, with the applicable NAV also depending on when the funds are available for utilization. Check the current rule and fund-realization requirements before relying on a particular purchase NAV; see AMFI’s applicable NAV guidance.
Compare plan costs and scheme terms
Include plan type and costs in the comparison. Review direct versus regular plan, expenses, and the current scheme-specific exit load and other terms. AMFI explains that the redemption price takes an exit load into account where one applies; consult Net Asset Value (NAV) and the scheme’s current documents before deciding.
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Build a like-for-like comparison
Record the date you collected the information prominently. Do not rank schemes using returns from different dates or compare mismatched plan types.
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| Comparison area | What to record for each scheme | How to use it |
|---|---|---|
| Historical returns | Matching trailing period, as-of date, plan type, and whether the return is annualized | Use as historical context, not a guarantee. |
| Portfolio risk | Current holdings, credit quality, maturity profile, and scheme risk disclosure | Look beyond the category label; schemes can hold different portfolios. |
| Redemption | Applicable NAV cutoff, expected payout timing, business-day calendar, and scheme facility conditions | Keep the NAV date separate from the date proceeds arrive. |
| Costs and plan | Direct or regular plan, expense information, exit load, and other current scheme terms | Check the terms that apply to the specific plan and transaction. |
A current “best fund” cannot be identified from category-level rules alone. A meaningful scheme-to-scheme comparison requires contemporaneous official data for the same as-of date across returns, holdings, credit quality, maturity, risk disclosure, expenses, exit load, and redemption terms.
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