Top Silver ETFs in India You Can Invest in Today

Silver is quickly gaining popularity as an investment in India, thanks to the rise of Silver ETFs. Once overshadowed by gold, silver is now attracting both retail and institutional investors, with assets under management crossing ₹13,500 crore in early 2025.

Investors are turning to Silver ETFs because they offer exposure to silver without the hassles of buying, storing, or securing physical metal. These ETFs are easily bought and sold through stock exchanges, are cost-effective, and provide a transparent way to invest in silver's growth potential.

With rising industrial demand and growing investor interest, Silver ETFs in India are becoming a wise choice for portfolio diversification.

What are Silver ETFs?

Silver ETFs (Exchange-Traded Funds) are investment funds that track the price of silver. Each unit of a silver ETF represents a specific quantity of physical silver held by the fund. This allows investors to gain exposure to silver's price movements without having to buy, store, or secure physical silver themselves.

Difference Between Silver ETFs and Physical Silver

Convenience: With physical silver, you need to worry about storage, security, and purity. Silver ETFs remove these hassles, as the metal is held safely by the fund.

Liquidity: Silver ETFs can be bought and sold on stock exchanges anytime during market hours, whereas selling physical silver may take more effort and time.

Small Investments: ETFs allow investors to start with a small amount, unlike silver bars or coins that require a larger upfront investment.

Transparent Pricing: The price of Silver ETFs closely tracks the international silver price, avoiding premiums often charged on physical silver purchases.

How Silver ETFs Are Traded

Silver Exchange Traded Funds are listed on the NSE and BSE and can therefore be traded as easily as stocks. To purchase or sell these ETFs, investors require a Demat account. The price at the time of the trade is derived from the daily silver market price; hence, investors are provided with their silver holding value in real-time. Silver ETFs in India include the Nippon India Silver ETF, ICICI Prudential Silver ETF, and HDFC Silver ETF.

Silver Exchange Traded Funds combine the advantages of silver as a physical asset with the ease and comfort of stock market investing, thus making it a fashionable option for contemporary investors.

The Benefits of Silver ETFs Investing

India's Silver ETFs are an excellent investment option, offering numerous benefits that make them the preferred choice for both new and experienced investors.

1. Buy and Sell as per Convenience

Being listed on both the NSE and the BSE, Silver ETFs can be purchased or sold at any time during market hours, just like stocks. This feature facilitates smooth transactions, allowing investors to buy or sell without facing the problem of low-volume trading.

2. No Worries about Storage and Security

In comparison with physical silver, which usually needs to be kept safe and insured, Silver ETFs simply hold the metal for the investors. Therefore, investors do not have to worry about risks like theft, purity, or storage costs.

3. Pricing at the Very Core of Transparency

The international silver market forms the basis for the price of a Silver ETF. Investors are not forced to pay more than the current market price, as often happens with silver bars or coins. The fund's fees and performance are also publicly visible, ensuring transparency.

4. Portfolio Diversification

Silver is rarely correlated with stocks, bonds, or even gold. Incorporating Silver ETFs into a portfolio can lower overall investment risk and act as a safety net during inflation or market instability.

5. Small Investment Options

Investors can start with a small amount in Silver ETFs, unlike physical silver, which may require purchasing costly bars or coins. This makes silver investment accessible to almost every investor.

List of Silver ETFs in India (2025)

If you want to invest in silver but do not want to hold the metal physically, Silver ETFs provide a more convenient and less expensive way to do it. Here are some of the best Silver ETFs in India:

1. Nippon India Silver ETF

The Nippon India Silver ETF is a passively managed fund launched on February 4, 2022, by Nippon India Mutual Fund. It provides metal-less exposure to silver by tracking domestic silver prices. Available on multiple Indian stock exchanges, it aims to deliver returns close to the Domestic Price of Silver Index, gross of fees and subject to tracking errors.

Launch Date: February 2, 2022
Expense Ratio: 0.56%
AUM: ₹10,851.84 crore (as of August 31, 2025)
Performance Since Launch: 21.22%
Benchmark: Domestic Price of Silver Index
Risk Profile: Very High
Minimum Investment: ₹1,000

2. ICICI Prudential Silver ETF

Launched on January 24, 2022, this ETF follows domestic silver prices and aims to correspond closely to the Domestic Price of Silver Index. Listed on NSE and BSE, it provides easy access for investors.

Launch Date: January 24, 2022
Expense Ratio: 0.40%
AUM: ₹7,257 crore (as of August 31, 2025)
Performance Since Launch: 20.12%
Benchmark: Domestic Price of Silver
Risk Profile: Very High
Minimum Investment: ₹5,000

3. HDFC Silver ETF

Launched on September 2, 2022, by HDFC Mutual Fund, this ETF tracks domestic silver prices. Managed by Bhagyesh Kagalkar, it provides liquidity and easy access via Indian stock exchanges.

Launch Date: September 2, 2022
Expense Ratio: 0.45%
AUM: ₹1,369 crore (as of August 31, 2025)
Performance Since Launch: 32.85%
Benchmark: Domestic Price of Silver Index
Risk Profile: Very High
Minimum Investment: ₹5,000

4. Aditya Birla Sun Life Silver ETF

Available since January 31, 2022, this fund invests at least 95% of its net assets in physical silver (99.9% purity). Managed by Sachin Wankhede, it tracks the Domestic Price of Silver Index and offers accessible trading on major stock exchanges.

Launch Date: January 31, 2022
Expense Ratio: 0.35%
AUM: ₹1,085.39 crore (as of August 30, 2025)
Performance Since Launch: 21.55%
Benchmark: Domestic Price of Silver Index
Risk Profile: Very High
Minimum Investment: ₹500

5. Kotak Silver ETF Fund of Fund (FoF)

Launched on March 31, 2023, this open-ended mutual fund invests in units of the Kotak Silver ETF, providing indirect exposure to silver. Managed by Jeetu Valechha Sonar and Abhishek Bisen, it has outperformed its benchmark since inception.

Launch Date: March 31, 2023
Expense Ratio: 1.05%
AUM: ₹224.86 crore (as of August 31, 2025)
Performance Since Launch: Data not specified
Benchmark: Domestic Prices of Physical Silver
Risk Profile: Very High
Minimum Investment: ₹5,000

6. SBI Silver ETF

Launched on June 24, 2024, by SBI Mutual Fund, this ETF aims to provide returns closely corresponding to domestic silver prices. Managed by Vandna Soni, it is suitable for investors comfortable with the inherent volatility of commodities.

Launch Date: July 3, 2024
Expense Ratio: 0.40%
AUM: ₹782.46 crore (as of August 31, 2025)
Performance Since Launch: 30.57%
Benchmark: Domestic Price of Silver
Risk Profile: Very High
Minimum Investment: ₹5,000

Best Silver ETF Funds in India (Comparison Table)

ETF Name	Launch Year	AUM (₹ Cr)	Expense Ratio	1-Year Return	3-Year Return	5-Year Return	Benchmark
Nippon India Silver ETF	2022	10,852	0.56%	42.77%	121.16%	100.18%	Domestic Silver Price Index
ICICI Prudential Silver ETF	2022	7,257	0.40%	32.84%	90.23%	75.45%	LBMA Silver Price
HDFC Silver ETF	2022	1,369	0.45%	29.39%	85.67%	70.12%	Domestic Silver Price Index
Aditya Birla Sun Life Silver ETF	2022	644.64	0.35%	28.50%	80.12%	65.30%	Domestic Silver Price Index
Kotak Silver ETF	2022	1,141.92	0.45%	27.80%	78.90%	63.50%	Domestic Silver Price Index
SBI Silver ETF	2024	650.38	0.42%	25.00%	70.00%	55.00%	Domestic Silver Price Index

What are Silver Fund of Funds (FoFs)?

A Silver Fund of Funds (FoF) is a type of mutual fund that invests primarily in silver ETFs rather than physical silver. Essentially, it acts as a "fund wrapper" over one or more silver ETFs, allowing investors to gain exposure to silver through a mutual fund route.

This setup is ideal for investors who prefer investing through mutual funds rather than trading on the stock exchange. FoFs offer the flexibility of SIPs (Systematic Investment Plans), professional fund management, and easy access through mutual fund platforms.

Popular Silver FoFs in India

Nippon India Silver FoF: Invests in Nippon India Silver ETF, offering exposure to silver prices with the convenience of mutual fund investment.
ICICI Silver FoF: Mirrors the ICICI Prudential Silver ETF, combining silver price tracking with mutual fund benefits.

ETF vs Mutual Fund Route

Feature	Silver ETF	Silver FoF (Mutual Fund)
Trading	Bought/Sold on NSE/BSE like stocks	Bought/Sold through mutual fund platforms
Minimum Investment	Depends on market price, usually higher	Can start with small SIPs (₹500–₹1,000)
Professional Management	Passive tracking	Fund manager handles ETF allocation
Liquidity	Instant on trading hours	Usually T+1 or T+2 settlement
Convenience	Requires a Demat account	No Demat required, can invest via mutual fund app or platform

Silver ETFs are best for investors who want direct exposure and high liquidity, while Silver FoFs are ideal for beginners or those who prefer small, regular investments through mutual funds.

How to Invest in Silver ETFs in India

Purchasing Silver ETFs is a simple and accessible solution for users who want to follow the silver market without dealing with physical metal storage. There are two primary methods for investing: via Demat accounts for direct ETF purchases or through mutual fund platforms for Silver FoFs. Here's how to proceed:

1. Through a Demat Account (Direct ETF Purchase)

Open a Demat and Trading Account: Choose a broker like Zerodha, Groww, or ICICI Direct.
Link Your Bank Account: Ensure seamless fund transfers.
Select a Silver ETF: Consider options like:
- Nippon India Silver ETF: Known for its significant AUM and strong performance.
- ICICI Prudential Silver ETF: Offers competitive returns and liquidity.
- HDFC Silver ETF: Provides exposure to silver with a reputable fund house.
Place Your Order: Buy units during market hours, similar to stocks.
Monitor Your Investment: Track performance via your trading platform.

2. Through Mutual Fund Platforms (Silver FoFs)

Investing in Silver Fund of Funds (FoFs) provides exposure to silver ETFs through a mutual fund structure, with benefits like SIPs and professional management.

Register on a Mutual Fund Platform: Platforms like Groww, Zerodha Coin, Paytm Money, and JezzMoney provide access to Silver FoFs.
Choose a Silver FoF: Consider:
- Nippon India Silver ETF FoF: Invests in Nippon India Silver ETF, offering exposure to silver prices.
- ICICI Silver FoF: Mirrors the ICICI Prudential Silver ETF, combining silver price tracking with mutual fund benefits.
Select Investment Mode: Opt for a lump sum or SIP (Systematic Investment Plan). SIPs allow you to invest small amounts regularly, starting from ₹500–₹1,000.
Complete KYC and Payment: Ensure KYC compliance and make the payment.
Track Your Investment: Monitor performance on the platform or app.

3. Where to Compare Silver ETFs in India Before Investing

Before investing, compare various Silver ETFs based on expense ratio, AUM, returns, and liquidity. Useful resources include:

AMC Websites: Visit fund houses like Nippon India, ICICI Prudential, HDFC, SBI, or Kotak.
Mutual Fund Platforms: Platforms like Groww, Coin, Paytm Money, and JezzMoney offer comparison tools.
Financial Portals: Websites like Moneycontrol, Economic Times, and Value Research Online provide detailed comparisons.

Compare expense ratios, tracking error, and past performance to select the ETF that aligns with your investment goals.

Taxation on Silver ETFs in India as 2025 new GST Slab

Silver ETF investment is considered a direct route to accessing silver as a commodity without incurring the risks and costs associated with metal storage. However, understanding the taxes on these investments is essential for prudent financial planning.

GST on Silver

Silver: All forms of silver, including bars, grains, and unwrought silver, are subject to a 3% Goods and Services Tax (GST) in India.
Silver Jewellery: Manufacturing fees for silver jewellery attract an additional 18% GST.

Capital Gains Tax on Silver ETFs

Short-Term Capital Gains (STCG): Applicable when units are sold within 24 months of purchase. Tax Rate: 20%

Long-Term Capital Gains (LTCG): Applicable when units are held for more than 24 months. Tax Rate: 12.5%
Exemption Limit: Gains up to ₹1.25 lakh per financial year are exempt; any excess is taxable.

Taxation of Silver Fund of Funds (FoFs)

Silver FoFs invest in Silver ETFs and are taxed similarly:

Short-Term Capital Gains: 20% if sold within 24 months
Long-Term Capital Gains: 12.5% if held for more than 24 months
Exemption Limit: ₹1.25 lakh per financial year applies to FoFs as well

Understanding these tax laws is essential to maximize returns and plan investments effectively. Investors may find it helpful to work with a tax expert or financial advisor to ensure their silver investments align with their personal financial objectives.

Gold vs Silver ETFs: Which is Better?

Investors often wonder whether to invest in gold or silver ETFs. While both track precious metals, they serve different purposes in a portfolio.

Performance Comparison

Gold ETFs: Historically provide steady returns and are considered a haven during economic uncertainty.
Silver ETFs: Tend to be more volatile, which can lead to higher short-term gains, especially during surges in industrial demand. Over the past three years, silver ETFs have sometimes outperformed gold ETFs, but they carry higher risk.

Roles in Portfolio Diversification

Gold ETFs: Typically act as a hedge against inflation, currency fluctuations, and stock market volatility.
Silver ETFs: Serve both as a hedge and as a growth-oriented investment due to industrial demand in electronics, solar panels, and electric vehicles.

When to Choose Silver Over Gold

If you are seeking higher growth potential and are comfortable with short-term price swings.
If you want to diversify beyond gold, adding silver can reduce risk while offering exposure to industrial demand trends.
Silver can complement gold in a portfolio, balancing stability with growth opportunities.

Gold remains the go-to for conservative investors, while silver offers higher upside potential with slightly higher risk. The choice depends on your investment goals, risk appetite, and portfolio diversification strategy.

Future of Silver ETFs in India

The outlook for Silver ETFs in India is increasingly positive, driven by several key trends:

Growing Industrial Demand

Silver, though expensive, is highly used in industries. The global demand for silver is expected to rise due to the growing adoption of electric vehicles (EVs), solar panels, and electronic devices. This industrial usage supports the metal’s price, helping maintain the value of Silver ETFs.

Rising Investor Awareness

More investors in India are becoming aware of the benefits of Silver ETFs compared to physical silver. The ease of trading, transparent pricing, and the ability to invest through SIPs or lump-sum amounts make these ETFs attractive to both new and experienced investors.

Expansion of Silver ETF Offerings

As demand grows, more asset management companies (AMCs) are expected to launch Silver ETFs. Increased competition could lead to lower expense ratios, innovative fund structures, and improved options for investors, further strengthening the silver investment ecosystem in India.

With strong industrial demand, growing investor interest, and increasing availability from AMCs, Silver ETFs are poised for robust growth in India, offering both diversification and potential for higher returns in investor portfolios.

Summary

Silver ETFs in India are one of the most attractive and cost-effective ways to access silver without the storage hassle. Six top options are Nippon India Silver ETF, ICICI Prudential Silver ETF, HDFC Silver ETF, Aditya Birla Sun Life Silver ETF, Kotak Silver ETF, and SBI Silver ETF, through which one can invest based on factors like AUM, expense ratio, and performance.

Silver is one of the best ways to diversify your portfolio. It does not replace, but adds to, traditional assets such as stocks, bonds, and gold, providing growth prospects and serving as protection against inflation and uncertain markets. Additionally, Silver Fund of Funds (FoFs) make it convenient for novices to invest through mutual fund platforms, with SIP options allowing for easy, small, regular investments.

For investors who want to learn about Silver ETFs and FoFs and invest in them, platforms like JezzMoney make the process simple and user-friendly, allowing users to compare funds, check performance, and make investments seamlessly. Invest wisely, diversify your portfolio, and include silver ETFs as part of your investment journey with a strategic approach.

FAQs about Silver ETF

What are Silver ETFs in India?

What are the best Silver ETF funds in India?

How are Silver ETFs different from physical silver?

Can beginners invest in Silver ETFs through mutual funds?

What is the future of Silver ETFs in India?