Top 10 Mutual Funds with NAV Below ₹100 and Low Expense Ratio

In mutual fund investing, a fund’s Net Asset Value (NAV) often catches the eye of first-time investors. Many equate a lower NAV with a cheaper or more affordable investment, though the actual performance depends on underlying portfolio quality, not price alone.

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Still, mutual funds with NAVs below ₹100 can be attractive entry points for small investors looking to start with modest capital. When combined with a low expense ratio, such funds can offer cost-effective exposure to well-managed portfolios without eroding returns through high management costs.

Following are the Top 10 Mutual Funds (Regular Schemes) with NAV Below ₹100 and Low Expense Ratio Here is the list of top 10 mutual fund schemes which have NAV below ₹100 and a low expense ratio:

DSP Quant Fund

DSP Quant Fund employs a rules-based, quantitative investment strategy in which data models, rather than human judgment, drive portfolio selection and rebalancing. The fund, which is managed by Aparna Karnik, uses a diversified equity portfolio to pursue long-term capital growth. It was introduced on June 10, 2019, and has an expense ratio of 1.27% and an AUM of ₹929.1 crore. The fund is appropriate for investors looking for a methodical, model-driven equity strategy at a low entry NAV because it has produced a 3-year return of 11.06% with a NAV of ₹22.48.

Parag Parikh Flexi Cap Fund

The Parag Parikh Flexi Cap Fund is renowned for having a flexible investment mandate that permits it to freely move between large, mid, and small caps in both Indian and foreign stocks. The fund is managed by Rajeev Thakkar, who emphasises active stock selection as a means of building long-term wealth. With a competitive expense ratio of 1.28%, it has expanded to an AUM of ₹1,29,782.5 crore since its founding on May 28, 2013. The fund has produced an outstanding 3-year return of 21.18% with a NAV of ₹86.73, demonstrating its excellent stock-picking strategy.

Kotak Flexicap Fund

By dynamically allocating investments across market capitalisations, Kotak Flexicap Fund is able to modify exposure in response to sectoral opportunities and market conditions. The fund, led by Harsha Upadhyaya, uses targeted equity positions to pursue long-term capital growth. The fund was established on September 11, 2009, and it currently oversees assets valued at ₹56,885.1 crore. The expense ratio is still 1.44% in spite of its size. The fund has produced a 3-year return of 15.59% with a NAV of ₹86.62, providing flexibility and balanced exposure.

SBI Large Cap Fund

With little exposure to mid and small caps for incremental growth, the SBI Large Cap Fund mainly invests in the top 100 companies in India based on market capitalisation. The fund, which is run by Saurabh Pant, seeks to offer consistent long-term returns from well-established companies. Since its launch on February 14, 2006, it has amassed an AUM of ₹55,636.6 crore and runs at a 1.47% expense ratio. The fund is a reasonably stable large-cap option below the ₹100 NAV threshold, with a 3-year return of 13.84% and a NAV of ₹95.86.

Nippon India Large Cap Fund

Nippon India Large Cap Fund focuses on leading Indian companies with strong fundamentals, aiming to participate in the long-term growth of large businesses. Managed by Sailesh Raj Bhan, the fund has been operational since August 8, 2007 and currently manages ₹50,312.3 crore in assets. The expense ratio stands at 1.48%. With an NAV of ₹94.05, the fund has delivered a solid 3-year return of 18.42%, reflecting its ability to balance scale with performance.

Axis ELSS Tax Saver Fund

Axis ELSS Tax Saver Fund combines equity investing with tax benefits under Section 80C, along with a mandatory 3-year lock-in period. Managed by Shreyash Devalkar, the fund aims for long-term capital appreciation through predominantly equity exposure. Since its inception on December 29, 2009, it has grown to an AUM of ₹35,083.7 crore. The expense ratio is 1.53%, and the NAV stands at ₹97.58. Over the past three years, the fund has delivered a return of 13.54%, offering tax efficiency alongside moderate growth.

Mirae Asset ELSS Tax Saver Fund

Mirae Asset ELSS Tax Saver Fund provides diversified equity exposure while enabling investors to claim tax deductions under Section 80C. Managed by Neelesh Surana, the fund focuses on long-term capital growth through a well-spread portfolio. Launched on December 28, 2015, it manages assets worth ₹27,271.3 crore with an expense ratio of 1.54%. With an NAV of ₹50.85, the fund has delivered a 3-year return of 16.48%, making it an attractive ELSS option with a relatively low NAV.

ICICI Prudential India Opportunities Fund

ICICI Prudential India Opportunities Fund follows a “special situations” strategy, investing in companies undergoing structural changes, sectoral shifts or corporate events. Managed by Sankaran Naren, the fund aims to capture long-term value from such opportunities. Since its launch on January 15, 2019, it has grown to an AUM of ₹33,946.4 crore. The expense ratio is 1.56%, and the NAV stands at ₹37.49. The fund has delivered a strong 3-year return of 22.51%, highlighting the effectiveness of its event-driven approach.

Axis Large Cap Fund

Axis Large Cap Fund focuses on investing in established, high-quality large-cap companies with the objective of delivering steady long-term growth and relatively lower volatility. Managed by Shreyash Devalkar, the fund was launched on January 5 , 2010 and currently manages ₹34,071.5 crore in assets. With an expense ratio of 1.57% and an NAV of ₹61.92, the fund has delivered a 3-year return of 11.65%, catering to investors seeking stability within the large-cap space.

Kotak Multicap Fund

Kotak Multicap Fund follows a mandated allocation across large, mid, and small-cap stocks, ensuring exposure to all segments of the equity market. Managed by Devender Singhal, the fund aims to capture growth opportunities across market cycles. Launched on September 29, 2021, it has an AUM of ₹22,281.3 crore and an expense ratio of 1.60%. With an NAV of ₹19.91, the fund has delivered a 3-year return of 22.12%, reflecting its diversified and growth-oriented structure.

Choosing mutual funds with a low NAV and minimal expense ratio can help investors start small while maximising long-term gains through cost efficiency.

Note: The NAV mentioned in the above article is as of December 12, 2025, and Asset Under Management (AUM) is as of November 30, 2025.