Difference between Liquid Fund vs Debt Fund

“Mutual funds are subject to market risks. Read all scheme-related documents carefully.”

Depending on their investment horizon, risk tolerance, and financial objectives, investors can select from a variety of mutual fund schemes.

Liquid funds & debt funds typically  two separate categories.

Debt funds, which cover overnight funds, liquid funds, duration funds, gilt funds, credit opportunities funds, etc.

Liquid funds with maturity up to 91 days only.

Investment objective

Depending on the investment goal of scheme, debt funds with different durations and maturities.

Liquid Funds, credit risk and interest rate risk are low due to lower portfolio maturity

Investment risk

Debt Funds interest rate risk & credit risk vary depending upon  the investment portfolio

Liquid fund returns are less volatile - portfolio's maturity is shorter.

Returns 

Debt funds may fluctuate less to more depending on portfolio maturity, changes in interest rates & credit profile

Liquid funds tend to provide better liquidity since they invest in short maturity

Liquidity

Debt funds is a function of residual maturity, credit profile and interest rate cycle

Since liquid funds fall within the category of debt funds, the taxation on investments in liquid funds and other debt funds is same.

Taxation

Long Term Capital Gains – held for 36 Month or more  - Short Term Capital Gains – held for less than 36 Month

Capital Gain 

Depending on their financial objectives, risk tolerance, and investment horizon, investors can choose from a wide range of debt funds.