ELSS (Equity Linked Savings Scheme), as the name suggests, mainly invests in equity. Most ELSS funds invest in a diversified manner, ranging from small cap to large cap and across various sectors. There is no maximum tenure for investment, but there is a lock-in period of 3 years. Most ELSS schemes allow investors to invest with as little as Rs 500, making it convenient for all. Here, we will explore some of the top tax-saving ELSS funds. See how Rs 50,000 invested in these schemes has grown to at least Rs 92 lakh in 3 years.
SBI Long Term Equity Fund
In 5 years, SBI Long Term Equity Fund has given 22.70 per cent annualised SIP returns. Its assets under management (AUM) are Rs 25,724 crore, while its net asset value (NAV) is Rs 436.69. Benchmarked against BSE 500 TRI, the fund has given annualised returns of 16.41 per cent since its launch in January 2013.
With an expense ratio of 1.07 per cent, the fund has Rs 500 as the minimum SIP investment and Rs 1,000 as the minimum lump sum investment. With a lump sum investment of Rs 50,000 in 5 years, the fund has given a total of Rs 2,07,000.
Motilal Oswal ELSS Tax Saver Fund
Motilal Oswal ELSS Fund has given 21.59 per cent annualised SIP returns in 5 years. Its assets under management (AUM) are Rs 3,405 crore, while its net asset value (NAV) is Rs 51.2549. Benchmarked against NIFTY 500 TRI, the fund has given annualised returns of 17.27 per cent since its launch in December 2014.
With an expense ratio of 0.72 per cent, the fund has Rs 500 as the minimum SIP investment and Rs 1,000 as the minimum lump sum investment. With a lump sum investment of Rs 50,000 in 5 years, the fund has given a total of Rs 1,88,000.
HDFC ELSS Tax Saver Fund
In 5 years, HDFC ELSS Tax Saver Fund has given 31.37 per cent annualised SIP returns. Its assets under management (AUM) are Rs 14,671 crore, while its net asset value (NAV) is Rs 1392.162. Benchmarked against NIFTY 500 TRI, the fund has given annualised returns of 15.17 per cent since its launch in January 2013.
With an expense ratio of 1.09 per cent, the fund has Rs 500 as the minimum SIP investment and Rs 1,000 as the minimum lump sum investment. With a lump sum investment of Rs 50,000 in 5 years, the fund has given a total of Rs 1,96,000.
DSP ELSS Tax Saver Fund
DSP ELSS Tax Saver Fund has given 31.17 per cent annualised SIP returns in 5 years. Its assets under management (AUM) are Rs 14,981 crore, while its net asset value (NAV) is Rs 143.457. Benchmarked against NIFTY 500 TRI, the fund has given annualised returns of 17.82 per cent since its launch in January 2013.
With an expense ratio of 0.72 per cent, the fund has Rs 500 as the minimum SIP investment and Rs 1,000 as the minimum lump sum investment. With a lump sum investment of Rs 50,000 in 5 years, the fund has given a total of Rs 1,94,000.
Parag Parikh ELSS Tax Saver Fund
In 5 years, Parag Parikh ELSS Fund has given 31.23 per cent annualised SIP returns. Its assets under management (AUM) are Rs 4,477 crore, while its net asset value (NAV) is Rs 31.7. Benchmarked against NIFTY 500 TRI, the fund has given annualised returns of 22.45 per cent since its launch in July 2019.
With an expense ratio of 0.63 per cent, the fund has Rs 1,000 as the minimum SIP investment and Rs 1,000 as the minimum lump sum investment. With a lump sum investment of Rs 50,000 in 5 years, the fund has given a total of Rs 1,95,000.
DISCLAIMER: Not financial advice; invest at your own risk
