The top 5 ELSS funds have given excellent returns in the last one year, ranging from 25% to 36%. SBI Long Term Equity Fund has given a return of 32.96%. While Quantum ELSS gave a return of more than 25%.
There has been a huge increase in the number of people investing in the stock market. In such a situation, let us know about these 5 ELSS mutual funds that are earning more than the stock market. Along with this, you also get the benefit of tax saving on these funds. There are many options to save tax, which include PPF, NSC, NPS etc. But it is important to note that most tax saving options come under the old tax regime. Apart from this, you can also invest in equity mutual funds to save tax. These mutual funds are known as ‘Equity Linked Saving Schemes’ (ELSS).
What is ELSS?
Equity Linked Savings Schemes (ELSS) are mutual funds that invest at least 80 per cent of their corpus in the stock market, as notified by the Ministry of Finance in 2005. These funds have a lock-in period of three years, which is the shortest among other tax saving options. ELSS schemes are eligible for tax exemption under Section 80C, and you can save tax by investing up to ₹1,50,000 in a year.
Top ELSS funds based on last one year performance:
- SBI Long Term Equity Fund – 32.96%
- Bank of India ELSS Tax Saver Fund – 27.73%
- Baroda BNP Paribas ELSS Tax Saver Fund – 27.42%
- DSP ELSS Tax Saver Fund – 27.57%
- HSBC ELSS Tax Saver Fund – 36.80%
These top 5 ELSS funds have given excellent returns in the last one year, ranging from 25% to 36%. SBI Long Term Equity Fund has given a return of 32.96%. While Quantum ELSS gave a return of more than 25%. Other well-performing funds include SBI Long Term Equity Fund, Bank of India ELSS Tax Saver Fund, HSBC ELSS Tax Saver Fund and Baroda BNP Paribas ELSS Tax Saver Fund.
