There is section 80C which offers window of Rs 1,50,000 tax exemption to every class of society. Salaried persons or MSMEs business individuals explore opportunity to invest their money where they can get good return and tax exemption while ITR filing. ELSS (Equity Linked Saving Scheme) is one of that option where you can get both these benefits if your time horizon is minimum five years.
Going with past record, average good ELSS funds have given 16% in 3 years, 11% in 5 years and 14% annualized return in 10 years respectively. Every ELSS funds having 3 years locking period so be assured to invest that part of your money which you do not need in this period of time. ELSS funds are also directly linked with stock market therefore there might be a time when market will be volatile and can go either side in short term & sometimes your portfolio shows negative return. But if we see long term history of stock market it has always been up.
As briefly highlighted about pros & cons of ELSS mutual fund and you find them okay with your investment appetite here are the best 10 funds which can be considered for lumpsum & SIP investment. To select these funds, we have applied various parameters to analyse and choose best plan, like Risk appetite, Expense ratio, Fund’s past performance, Fund manager’s experience, Rating & Fund size etc so an investor gets minimum risk and maximum rewards.
- Quant Tax Plan Direct Growth
Annualized Return in 5 Years – 22%
Annualized Return in 3 Years – 49.7%
Crisil Rank – 5*
Present Fund Size – Rs 2779 Cr
Minimum SIP Amount – Rs 500
2. Mirae Asset Tax Saver Fund Direct Growth
Annualized Return in 5 Years – 15%
Annualized Return in 3 Years – 29%
Crisil Rank – 5*
Present Fund Size – Rs 14043 Cr
Minimum SIP Amount – Rs 500
3. Canara Robeco Equity Tax Saver Fund Direct Growth
Annualized Return in 5 Years – 15%
Annualized Return in 3 Years – 26.3%
Crisil Rank – 5*
Present Fund Size – Rs 4685 Cr
Minimum SIP Amount – Rs 500
4. Parag Parikh Tax Saver Fund Direct Growth
Annualized Return in 5 Years – NA
Annualized Return in 3 Years – 31.4%
Crisil Rank – 5*
Present Fund Size – Rs 1147 Cr
Minimum SIP Amount – Rs 1000
5. Kotak Tax Saver Fund Direct Growth
Annualized Return in 5 Years – 14.3%
Annualized Return in 3 Years – 27.3%
Crisil Rank – 4*
Present Fund Size – Rs 3167 Cr
Minimum SIP Amount – Rs 500
6. Bandhan Tax Advantage (ELSS) Direct Plan Growth
Annualized Return in 5 Years – 12.7%
Annualized Return in 3 Years – 34.1%
Crisil Rank – 4*
Present Fund Size – Rs 4024 Cr
Minimum SIP Amount – Rs 500
7. DSP Tax Saver Direct Plan Growth
Annualized Return in 5 Years – 13.2%
Annualized Return in 3 Years – 27.5%
Crisil Rank – 4*
Present Fund Size – Rs 10129 Cr
Minimum SIP Amount – Rs 500
8. Tata India Tax Savings Growth Direct Growth
Annualized Return in 5 Years – 11.7%
Annualized Return in 3 Years – 25.2%
Crisil Rank – 3*
Present Fund Size – Rs 3078 Cr
Minimum SIP Amount – Rs 500
9. SBI Long Term Equity Fund Direct Plan Growth
Annualized Return in 5 Years – 11.5
Annualized Return in 3 Years – 28.9%
Crisil Rank – 3*
Present Fund Size – Rs 12158 Cr
Minimum SIP Amount – Rs 500
10. Invesco India Tax Plan Direct Growth
Annualized Return in 5 Years – 10.8%
Annualized Return in 3 Years – 20.7%
Crisil Rank – 3*
Present Fund Size – Rs 1833 Cr
Minimum SIP Amount – Rs 500
Declaimer – Given details are not any advice/recommendation to invest and just for information and education purpose. Do your own research or take suggestion from your financial advisor before investing into any plan.
