Herein we report a rapid low cost one step green synthetic method using Actinidia deliciosa fruit extract for preparation of stable and multifunctional silver and gold nanoparticles. The synthesized nanoparticles were successfully used as green catalysts for the reduction of 4-nitrophenol (4-NP) and methylene blue (MB). The enhanced biological activity of the prepared nanoparticles was investigated based on its highly stable antioxidant, anticancer and bactericidal effects. TEM micrographs showed that the silver nanoparticles (AgNPs) formed were predominantly spherical in shape having diameters ranging from 25 to 40nm, while gold nanoparticles (AuNPs) shown particle size ranges from 7 to 20nm. EDAX (energy-dispersive X-ray spectroscopy) and XPS (X-ray photoelectron spectroscopy) results confirmed the presence of elemental silver and gold. X-ray diffraction (XRD) pattern revealed the formation of face-centered cubic structure for AgNPs and AuNPs. The Fourier-transform infrared (FTIR) spectrum indicated the presence of possible functional groups in the biomolecule responsible for capping the nanoparticles. The AgNPs treated HCT116 cells showed 78% viability at highest concentration (350μg/mL), while AuNPs showed 71% viability at highest concentration (350μg/mL) using MTT assay, which provides promising approach for alternative nano-drug development. The antimicrobial activity of the nanoparticles was investigated using Pseudomonas aeruginosa (P.aeruginosa) in which damaging the cell membrane was observed by TEM images. Our results revealed that the green synthesis method is easy, rapid, inexpensive, eco-friendly and efficient in developing multifunctional nanoparticles in near future in the field of biomedicine, water treatment and nanobiotechnology.