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- ELSS Funds
- ELSS Funds
- Average Return 19.35%
- No of Funds 31
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What is ELSS Mutual Fund
ELSS funds are equity funds that allow you to save tax while you invest for your long term goals. Investment in these funds can are eligible for Tax deduction under Section 80c. These dual benefits mean anyone looking to invest up to Rs. 9,000 per month should only invest in this category
Advantages of ELSS Funds
- Lock-in period of 3 years. Shortest among all tax saving options
- Their diversified portfolio reduces risk while ensuring you don't miss out on any opportunity
- Invest and get better return potential than traditional options like PPF
Top schemes of ELSS Mutual Funds sorted by ETM Rank
31 funds
Sort by:
- ETM Rank High to Low
- Returns High to Low
- Fund Size High to Low
Show
- Annualized
- Absolute
Returns for
- 1 Month
- 3 Months
- 6 Months
- 1 year
- 3 years
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via
- Monthly SIP
- One-time (Lumpsum)
PGIM India ELSS Tax Saver Fund
#1 of 34
Fund Size
₹683 Crs
Return (p.a)
-8.37% -0.69% + 9.03%+ 1.4% + 12.48%+ 3.42% + 17.9%+ 9.35% + 15.9%+ 26.48% + 20.24%+ 65.31%
ETM Rank
#1 of 34
Invest
HDFC ELSS Tax Saver Fund
#2 of 34
Fund Size
₹14,475 Crs
Return (p.a)
+ 30.27%+ 2.12% + 28.95%+ 4.19% + 34.84%+ 8.99% + 43.31%+ 21.91% + 29.17%+ 51.86% + 27.12%+ 95.06%
ETM Rank
#2 of 34
Invest
Canara Robeco ELSS Tax Saver
#3 of 34
Fund Size
₹7,761 Crs
Return (p.a)
+ 18.03%+ 1.33% + 23.58%+ 3.47% + 26.53%+ 6.99% + 31.45%+ 16.13% + 20.03%+ 34.05% + 22.57%+ 74.89%
ETM Rank
#3 of 34
Invest
Mahindra Manulife ELSS Tax Saver Fund
#4 of 34
Fund Size
₹858 Crs
Return (p.a)
+ 7.2%+ 0.55% + 19.29%+ 2.88% + 23.09%+ 6.14% + 28.34%+ 14.59% + 20.95%+ 35.78% + 23.34%+ 78.18%
ETM Rank
#4 of 34
Invest
Bank of India ELSS Tax Saver Fund
#5 of 34
Fund Size
₹1,298 Crs
Return (p.a)
+ 11.23%+ 0.85% + 29.49%+ 4.26% + 44.42%+ 11.19% + 54.37%+ 27.17% + 30.8%+ 55.2% + 30.34%+ 110.52%
ETM Rank
#5 of 34
Invest
Kotak ELSS Tax Saver Fund
#6 of 34
Fund Size
₹5,608 Crs
Return (p.a)
+ 25.67%+ 1.83% + 38.17%+ 5.36% + 45.52%+ 11.44% + 42.54%+ 21.54% + 26.1%+ 45.7% + 25.75%+ 88.78%
Invest
Quant ELSS Tax Saver Fund
#7 of 34
Fund Size
₹9,361 Crs
Return (p.a)
+ 30.12%+ 2.11% + 33.55%+ 4.78% + 48.32%+ 12.06% + 59.25%+ 29.46% + 33.48%+ 60.78% + 38.85%+ 156.66%
ETM Rank
#7 of 34
Invest
Bandhan ELSS Tax Saver Fund
#8 of 34
Fund Size
₹6,432 Crs
Return (p.a)
-4.12% -0.33% + 5.8%+ 0.91% + 17.74%+ 4.79% + 27.28%+ 14.07% + 22.18%+ 38.1% + 26.26%+ 91.09%
ETM Rank
#8 of 34
Invest
SBI Long Term Equity Fund
#9 of 34
Fund Size
₹23,412 Crs
Return (p.a)
+ 13.0%+ 0.98% + 26.19%+ 3.82% + 43.31%+ 10.94% + 53.47%+ 26.75% + 34.1%+ 62.08% + 30.41%+ 110.83%
ETM Rank
#9 of 34
Invest
DSP ELSS Tax Saver Fund
#10 of 34
Fund Size
₹14,860 Crs
Return (p.a)
+ 27.37%+ 1.94% + 33.27%+ 4.74% + 34.89%+ 9.0% + 41.13%+ 20.86% + 25.13%+ 43.8% + 25.47%+ 87.5%
ETM Rank
#10 of 34
Invest
Union ELSS Tax Saver Fund
#11 of 34
Fund Size
₹876 Crs
Return (p.a)
-11.33% -0.95% + 5.01%+ 0.79% + 15.65%+ 4.25% + 26.33%+ 13.59% + 20.06%+ 34.1% + 22.37%+ 74.08%
ETM Rank
#11 of 34
Invest
Mirae Asset ELSS Tax Saver Fund
#12 of 34
Fund Size
₹22,472 Crs
Return (p.a)
+ 3.58%+ 0.28% + 15.33%+ 2.32% + 22.01%+ 5.87% + 29.82%+ 15.33% + 20.27%+ 34.49% + 23.0%+ 76.71%
ETM Rank
#12 of 34
Invest
ICICI Prudential ELSS Tax Saver
#13 of 34
Fund Size
₹13,415 Crs
Return (p.a)
-19.49% -1.71% + 1.01%+ 0.16% + 14.04%+ 3.83% + 25.1%+ 12.98% + 18.38%+ 30.99% + 20.54%+ 66.53%
ETM Rank
#13 of 34
Invest
Franklin India ELSS Tax Saver Fund
#14 of 34
Fund Size
₹6,383 Crs
Return (p.a)
+ 9.74%+ 0.74% + 17.13%+ 2.58% + 27.42%+ 7.21% + 38.09%+ 19.38% + 25.58%+ 44.68% + 25.44%+ 87.36%
ETM Rank
#14 of 34
Invest
Baroda BNP Paribas ELSS Tax Saver Fund
#16 of 34
Fund Size
₹881 Crs
Return (p.a)
+ 0.55%+ 0.04% + 26.02%+ 3.8% + 31.73%+ 8.25% + 40.6%+ 20.6% + 23.68%+ 40.98% + 21.96%+ 72.34%
ETM Rank
#16 of 34
Invest
JM ELSS Tax Saver Fund
#17 of 34
Fund Size
₹141 Crs
Return (p.a)
+ 11.42%+ 0.86% + 40.99%+ 5.7% + 46.34%+ 11.62% + 46.87%+ 23.62% + 28.2%+ 49.89% + 26.7%+ 93.08%
ETM Rank
#17 of 34
LIC MF ELSS Tax Saver
#18 of 34
Fund Size
₹1,050 Crs
Return (p.a)
+ 21.75%+ 1.58% + 32.51%+ 4.65% + 29.79%+ 7.79% + 29.42%+ 15.13% + 19.57%+ 33.19% + 19.69%+ 63.13%
ETM Rank
#18 of 34
Invest
Motilal Oswal ELSS Tax Saver Fund
#19 of 34
Fund Size
₹3,402 Crs
Return (p.a)
+ 10.24%+ 0.78% + 42.06%+ 5.83% + 49.98%+ 12.43% + 56.2%+ 28.03% + 32.68%+ 59.1% + 28.67%+ 102.36%
ETM Rank
#19 of 34
Invest
Sundaram ELSS Tax Saver Fund
#20 of 34
Fund Size
₹1,287 Crs
Return (p.a)
-4.84% -0.39% + 13.35%+ 2.04% + 22.1%+ 5.9% + 27.88%+ 14.36% + 19.68%+ 33.4% + 21.65%+ 71.08%
ETM Rank
#20 of 34
Invest
UTI ELSS Tax Saver Fund
#21 of 34
Fund Size
₹3,615 Crs
Return (p.a)
+ 8.37%+ 0.64% + 23.46%+ 3.46% + 20.01%+ 5.37% + 25.82%+ 13.34% + 16.94%+ 28.36% + 19.59%+ 62.75%
ETM Rank
#21 of 34
Invest
Invesco India ELSS Tax Saver Fund
#22 of 34
Fund Size
₹2,633 Crs
Return (p.a)
+ 5.37%+ 0.42% + 17.18%+ 2.59% + 23.77%+ 6.31% + 33.74%+ 17.26% + 21.23%+ 36.31% + 21.41%+ 70.08%
ETM Rank
#22 of 34
Invest
Edelweiss ELSS Tax Saver Fund
#23 of 34
Fund Size
₹343 Crs
Return (p.a)
+ 20.93%+ 1.52% + 23.92%+ 3.52% + 29.65%+ 7.75% + 34.35%+ 17.56% + 22.17%+ 38.08% + 22.31%+ 73.79%
ETM Rank
#23 of 34
Invest
Quantum ELSS Tax Saver Fund
#24 of 34
Fund Size
₹182 Crs
Return (p.a)
+ 10.62%+ 0.8% + 18.66%+ 2.79% + 27.09%+ 7.13% + 35.09%+ 17.92% + 22.69%+ 39.08% + 22.02%+ 72.59%
ETM Rank
#24 of 34
Invest
Aditya Birla Sun Life ELSS Tax Saver Fund
#25 of 34
Fund Size
₹15,384 Crs
Return (p.a)
+ 16.97%+ 1.25% + 26.02%+ 3.8% + 28.87%+ 7.56% + 31.22%+ 16.02% + 17.3%+ 29.01% + 15.71%+ 48.02%
ETM Rank
#25 of 34
Invest
Tata ELSS Tax Saver Fund
#26 of 34
Fund Size
₹4,197 Crs
Return (p.a)
+ 3.08%+ 0.24% + 16.28%+ 2.46% + 20.04%+ 5.38% + 27.56%+ 14.21% + 20.32%+ 34.53% + 21.5%+ 70.38%
ETM Rank
#26 of 34
Invest
Nippon India ELSS Tax Saver Fund
#27 of 34
Fund Size
₹14,932 Crs
Return (p.a)
+ 8.63%+ 0.66% + 27.49%+ 3.99% + 32.81%+ 8.51% + 39.69%+ 20.16% + 25.07%+ 43.68% + 24.56%+ 83.47%
ETM Rank
#27 of 34
Invest
Axis ELSS Tax Saver Fund
#28 of 34
Fund Size
₹35,642 Crs
Return (p.a)
-16.1% -1.39% + 6.92%+ 1.08% + 18.92%+ 5.09% + 25.16%+ 13.01% + 14.01%+ 23.12% + 15.33%+ 46.67%
ETM Rank
#28 of 34
Invest
HSBC ELSS Tax saver Fund
#32 of 34
Fund Size
₹3,889 Crs
Return (p.a)
+ 22.06%+ 1.6% + 41.15%+ 5.72% + 45.75%+ 11.49% + 44.49%+ 22.48% + 25.37%+ 44.26% + 23.27%+ 77.89%
ETM Rank
#32 of 34
Invest
Navi ELSS Tax Saver Nifty 50 Index Fund
Unranked
Fund Size
₹50 Crs
Return (p.a)
-2.26% -0.18% + 2.81%+ 0.45% + 11.24%+ 3.09% + 19.95%+ 10.39% N.A.N.A. N.A.N.A.
ETM Rank
Unranked
Invest
Parag Parikh ELSS Tax Saver Fund
Unranked
Fund Size
₹3,361 Crs
Return (p.a)
+ 0.06%+ 0.0% + 6.62%+ 1.04% + 15.43%+ 4.2% + 26.44%+ 13.65% + 21.7%+ 37.19% N.A.N.A.
ETM Rank
Unranked
Invest
WhiteOak Capital ELSS Tax Saver Fund
Unranked
Fund Size
₹212 Crs
Return (p.a)
+ 2.63%+ 0.21% + 19.03%+ 2.85% + 26.2%+ 6.91% + 35.57%+ 18.16% N.A.N.A. N.A.N.A.
ETM Rank
Unranked
Invest
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ELSS Funds Returns Calculator
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PGIM India ELSS Tax Saver Fund
- PGIM India ELSS Tax Saver Fund
- HDFC ELSS Tax Saver Fund
- Canara Robeco ELSS Tax Saver
- Mahindra Manulife ELSS Tax Saver Fund
- Bank of India ELSS Tax Saver Fund
- Kotak ELSS Tax Saver Fund
- Quant ELSS Tax Saver Fund
- Bandhan ELSS Tax Saver Fund
- SBI Long Term Equity Fund
- DSP ELSS Tax Saver Fund
- Union ELSS Tax Saver Fund
- Mirae Asset ELSS Tax Saver Fund
- ICICI Prudential ELSS Tax Saver
- Franklin India ELSS Tax Saver Fund
- Baroda BNP Paribas ELSS Tax Saver Fund
- JM ELSS Tax Saver Fund
- LIC MF ELSS Tax Saver
- Motilal Oswal ELSS Tax Saver Fund
- Sundaram ELSS Tax Saver Fund
- UTI ELSS Tax Saver Fund
- Invesco India ELSS Tax Saver Fund
- Edelweiss ELSS Tax Saver Fund
- Quantum ELSS Tax Saver Fund
- Aditya Birla Sun Life ELSS Tax Saver Fund
- Tata ELSS Tax Saver Fund
- Nippon India ELSS Tax Saver Fund
- Axis ELSS Tax Saver Fund
- HSBC ELSS Tax saver Fund
- Navi ELSS Tax Saver Nifty 50 Index Fund
- Parag Parikh ELSS Tax Saver Fund
- WhiteOak Capital ELSS Tax Saver Fund
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Minimum: ₹1,000
for a period of for
- 1 Month
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- 6 Months
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Invested Gains
You would have got
Total investment Invested ₹ 6 Lakh
Profit ₹ 3.33 Lakh
Current value Current value ₹ 9.33 Lakh
This fund has generated an XIRR of 20.24% over the past 5 Years
See scheme details Invest now
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- How ELSS Mutual Funds Work?
- Who Should Invest in ELSS Mutual Funds
- Taxation on ELSS Funds
- How to invest in ELSS Funds?
- Frequently Asked Questions
How ELSS Mutual Funds Work?
ELSS Funds are diversified equity funds. These funds primarily invest in stocks of listed companies in a specific proportion according to the investment objective of the fund. The stocks are chosen from across market capitalization (Large Caps, Mid Caps, Small Caps) and industry sectors. These funds aim to maximize capital appreciation over the long run. The fund manager picks stocks after conducting in-depth market research to deliver optimal risk-adjusted portfolio returns. Learn more about tax saver elss funds to save more tax.
Who Should Invest in ELSS Mutual Funds
- Salaried Individuals: When you are a salaried employee, there is a certain amount that goes towards Employee Provident Fund (EPF) which is a fixed income product. If one wants to balance out risk & return on their investment portfolio then ELSS is the best option. In addition to the upside of extraordinary returns, investments in ELSS are also eligible for tax deduction under section 80C. While other products like Unit Linked Insurance Plans (ULIPs) also offer tax benefits, they have a higher lock-in period & lesser return potential. For instance, ULIPs have a lock-in period of five years while PPF has a 15-year lock-in. ELSS Funds have the shortest lock-in period of only three years.
- First-time Investors: If you are a new investor, ELSS is an ideal choice, since in addition to tax benefits you get a flavor of equity investing and mutual funds. Equity investing requires patience and discipline of staying invested for the long term. Investors often lack this discipline and pull out of equity investments due to short-term fluctuations in the fund?s performance caused by equity market movements. The lock-in ensures that the investor stays invested for the long term. Like all equity investments, you can invest in ELSS through SIP, which ensures regular investing. SIP helps in rupee cost averaging. Through SIP you accumulate more units when the market is in red and this benefits you when the markets turn favorable. Read our blog on Why ELSS should be your first Mutual fund? to understand the benefits in detail.
Taxation on ELSS Funds
Capital gains from ELSS get the same treatment in Income Tax Calculation as the rest of the Equity Instruments. Short-term capital gains (STCG) attract a tax of 15%, while Long Term Capital gains (LTCG) are only taxable if the gains exceed ?1 lac during the financial year. LTCG attracts a tax of 10% on the amount exceeding ?1 lac. Read ETMONEY's blog on How Mutual Fund Investments are taxed to understand the taxation in detail.
How to invest in ELSS Funds?
It is quite easy to invest in ELSS mutual funds on ET Money. Here are the steps that you have to follow.
- Register online on ET Money app or website
- Head to Mutual Funds sections and choose the ELSS fund you want to invest in.
- Click on invest and choose the amount and mode of investment (SIP or Lumpsum)
- Provide your KYC details (Pan number, Bank details) and complete your investment.
Frequently Asked Questions
Which are the best ELSS Mutual Funds to invest in 2024?
These are top 5 ELSS funds you can invest in 2024
| Fund Name | Fund Category | ETM Rank | Consistency | 5 Year Return (Annualized) |
|---|---|---|---|---|
| JM ELSS Tax Saver Fund | Equity | # 17 of 34 | 21.22 % p.a. | |
| Tata ELSS Tax Saver Fund | Equity | # 26 of 34 | 17.23 % p.a. | |
| Invesco India ELSS Tax Saver Fund | Equity | # 22 of 34 | 17.73 % p.a. | |
| Canara Robeco ELSS Tax Saver | Equity | # 3 of 34 | 19.63 % p.a. | |
| ICICI Prudential ELSS Tax Saver | Equity | # 13 of 34 | 16.34 % p.a. |
How long should I stay invested in ELSS Mutual Funds?
Since ELSS Funds are equity funds i.e. they invest in stocks of companies, you need to stay invested for at least 5 years.
Where do ELSS Mutual Funds invest?
ELSS Mutual Funds have to invest at least 80% of their assets in equities. There is no regulation on which sector or company size they have to allocate. This allows funds in this category flexibility a portfolio fund manager thinks has the chance to give the best returns. Moreover, a Fund Manager can modify the portfolio as per his understanding of the markets. Despite this flexibility, most funds in the category are large cap heavy, i.e., they have a majority of their money invested in India's top 100 companies. They do allocate to mid caps and small caps but a smaller amount as compared to large caps.
Are ELSS Mutual Funds high risk?
ELSS Funds invest in equities, so in a short term, they can be volatile. However, over a long-term, the risk comes down substantially.
What kind of returns can i earn from ELSS ?
ELSS Funds have on an average delivered 18.47% p.a. returns in the last 5 years. Their 3 and 10 year annualized returns are 19.35% and 15.96% p.a.
Should i invest in ELSS Mutual Funds?
ELSS Funds give you dual benefits of tax saving and wealth creation. Your investments in these funds can be claimed as tax deduction under Section 80C, which has a limit of Rs. 1.5 lakh. So, by investing these funds, you can save up to Rs. 46,800 in taxes. The second benefit is wealth creation. Because you are investing in equities, you can align them to your long-term goals. There is an added advantage of them have the lowest lock-in period amongst all tax-saving options.To estimate the value of your ELSS investment done over a specific time, you can use the ELSS calculator. Depending on the inputs you give, the ELSS calculator will display the amount your investment would have accumulated at the end of the investment period.
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