How to Invest in LIC MF Banking & Financial Services Fund Direct Growth?

You can easily invest in LIC MF Banking & Financial Services Fund Direct Growth in a hassle-free manner on Groww. The process is extremely simple, quick and completely paperless. Invest in a few minutes with the following steps: Log on to your Groww account Search for LIC MF Banking & Financial Services Fund Direct Growth from the search box In order to invest, you will have to complete all the KYC formalities which are completely online and paperless and take a few minutes to complete Once you are done with that, you can start investing in LIC MF Banking & Financial Services Fund Direct Growth as SIP or lumpsum as per your investment objective and risk tolerance

What kind of returns does LIC MF Banking & Financial Services Fund Direct Growth provide?

The LIC MF Banking & Financial Services Fund Direct Growth has been there from 27 Mar 2015 and the average annual returns provided by this fund is 24.26% since its inception.

How much expense ratio is charged by LIC MF Banking & Financial Services Fund Direct Growth?

The term Expense Ratio used for LIC MF Banking & Financial Services Fund Direct Growth or any other mutual fund is the annual charges one needs to pay to the Mutual Fund company for managing your investments in that fund. The Expense Ratio of LIC MF Banking & Financial Services Fund Direct Growth is 1.16% as of 20 Jan 2026...

What is the AUM of LIC MF Banking & Financial Services Fund Direct Growth?

The AUM, short for Assets Under Management of LIC MF Banking & Financial Services Fund Direct Growth is ₹279.29Cr as of 20 Jan 2026.

How to Redeem LIC MF Banking & Financial Services Fund Direct Growth?

If you want to sell your LIC MF Banking & Financial Services Fund Direct Growth holdings, go to your holding on the app or web and simply click on it. You will get two options - redeem & invest more; click on redeem and enter your desired amount or if you wish to redeem the entire holding amount then select the 'redeem all' checkbox.

What is the NAV of LIC MF Banking & Financial Services Fund Direct Growth?

The NAV of LIC MF Banking & Financial Services Fund Direct Growth is ₹25.42 as of 19 Jan 2026.

What is the PE and PB ratio of LIC MF Banking & Financial Services Fund Direct Growth?

The PE ratio ratio of LIC MF Banking & Financial Services Fund Direct Growth is determined by dividing the market price by its earnings per share and the PB ratio of the same is evaluated by dividing the stock price per share by its book value per share (BVPS).

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LIC MF Banking & Financial Services Fund Direct Growth

Name: LIC MF Banking & Financial Services Fund Direct Growth
Brand: LIC Mutual Fund

Equity

Sectoral

Very High Risk

+14.00%

3Y annualised

-0.26% 1D

All

NAV: 19 Jan '26

₹25.42

Min. SIP amount

₹200

Fund size

₹279.29 Cr

Expense ratio

1.16%

Return calculator

Monthly SIP

One time

Monthly investment

₹5,000

Over the past	Total investment	Would've become	Returns
1 year	₹60,000	₹55,793	-7.01%
3 years	₹1,80,000	₹1,95,385	+8.55%
5 years	₹3,00,000	₹3,95,774	+31.92%
10 years	₹6,00,000	₹9,61,301	+60.22%

Holdings (32)

Name	Sector	Instruments	Assets
HDFC Bank Ltd.	Financial	Equity	21.88%
ICICI Bank Ltd.	Financial	Equity	12.21%
Axis Bank Ltd.	Financial	Equity	7.69%
Kotak Mahindra Bank Ltd.	Financial	Equity	6.89%
State Bank of India	Financial	Equity	4.91%
MAS Financial Services Ltd.	Financial	Equity	4.55%
SBI Cards And Payment Services Ltd.	Financial	Equity	3.55%
Piramal Finance Ltd.	Financial	Equity	2.94%
IIFL Finance Ltd.	Financial	Equity	2.73%
CreditAccess Grameen Ltd.	Financial	Equity	2.72%
Power Finance Corporation Ltd.	Financial	Equity	2.69%
Motilal Oswal Financial Services Ltd.	Financial	Equity	2.12%
Shriram Finance Ltd	Financial	Equity	1.98%
TVS Holdings Ltd.	Automobile	Equity	1.88%
CSB Bank Ltd.	Financial	Equity	1.82%
Ujjivan Small Finance Bank Ltd.	Financial	Equity	1.71%
Aadhar Housing Finance Ltd	Financial	Equity	1.58%
DCB Bank Ltd.	Financial	Equity	1.55%
The South Indian Bank Ltd.	Financial	Equity	1.54%
Computer Age Management Services Ltd.	Services	Equity	1.41%
Sundaram Finance Ltd.	Financial	Equity	1.37%
Crisil Ltd.	Services	Equity	1.32%
General Insurance Corporation of India	Insurance	Equity	1.16%
360 One Wam Ltd.	Financial	Equity	1.15%
One97 Communications Ltd.	Services	Equity	1.11%
Bajaj Housing Finance Ltd.	Financial	Equity	0.91%
Nippon Life India Asset Management Ltd.	Financial	Equity	0.90%
Five-Star Business Finance Ltd.	Financial	Equity	0.87%
Muthoot Finance Ltd.	Financial	Equity	0.63%
BSE Ltd.	Services	Equity	0.54%
PB Fintech Ltd.	Services	Equity	0.27%
Prudent Corporate Advisory Services Ltd.	Financial	Equity	0.25%

See All

Minimum investments

Min. for 1st investment

₹5,000

Min. for 2nd investment

₹500

Min. for SIP

₹200

Returns and rankings

Annualised returns

Absolute returns

Name	3Y	5Y	10Y	All
Fund returns	+14.0%	+13.2%	+12.8%	+8.8%
Category average (Equity Sectoral)	+14.4%	+16.1%	+13.7%	--
Rank (Equity Sectoral)	14	12	11	--

Exit load, stamp duty and tax

Exit load

Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 90 days.

Stamp duty on investment: 0.005% (from July 1st, 2020)

from July 1st 2020

Tax implication

If you redeem within one year, returns are taxed at 20%. If you redeem after one year, returns exceeding Rs 1.25 lakh in a financial year are taxed at 12.5%.

Check past data

Fund management

JT
Jaiprakash Toshniwal
Sep 2021 - Present
View details

Education

Mr. Toshniwal is a CFA - CFA Institute, USA. MS Finance (CFA) - ICFAI, India. B.com - Gujarat University.

Experience

Prior to joining LIC Mutual Fund Asset Management Ltd., he has worked with India First Life Insurance and Taurus Mutual Fund.

Also manages these schemes

LIC MF Banking & Financial Services Fund Direct Growth

LIC MF Balanced Advantage Fund Direct Growth

LIC MF Multi Asset Allocation Fund Direct Growth

LIC MF Flexi Cap Fund Direct Growth

LIC MF Focused Fund Direct Growth

About LIC MF Banking & Financial Services Fund Direct Growth

LIC MF Banking & Financial Services Fund Direct Growth is a Equity Mutual Fund Scheme launched by LIC Mutual Fund. This scheme was made available to investors on 20 Apr 1994. Jaiprakash Toshniwal is the Current Fund Manager of LIC MF Banking & Financial Services Fund Direct Growth fund. The fund currently has an Asset Under Management(AUM) of ₹45,363 Cr and the Latest NAV as of 19 Jan 2026 is ₹25.42. The LIC MF Banking & Financial Services Fund Direct Growth is rated Very High risk. Minimum SIP Investment is set to ₹200. Minimum Lumpsum Investment is ₹5,000. Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 90 days. ;

Investment Objective

The scheme seeks to generate long-term capital appreciation from a portfolio that invested substantially in equity and equity related securities of companies engaged in banking and financial services sector.

Fund benchmarkNIFTY Financial Services Total Return Index

Scheme Information Document(SID)