5 top ELSS mutual funds with up to 32% returns in 3 years
ELLS comes with a lock-in period of three years, which means you can't withdraw funds from them until three years. These funds are known to give steady returns.
Equity-linked Savings Scheme (ELSS) is a unique mutual fund category that provides tax relaxation on deposits of up to Rs 1.50 lakh under Section 80C of the Income Tax Act. Unlike many other equity funds, ELLS comes with a lock-in period of three years, which means you can't withdraw funds from them until three years. ELLS funds are known to give steady returns. Some of them have given up to 32 per cent returns in the last 3 years.
(Data: AMFI as of April 16, 2024)
Quant ELSS Tax Saver Fund
The fund has given returns of 32.87 per cent in three years. Its NAV is Rs 405.72.
SBI Long Term Equity Fund
This SBI fund has given 28.44 per cent in three years. Its NAV is Rs 406.09.
HDFC ELSS Tax Saver Fund
This fund from HDFC has given 26.99 per cent in three years. Its NAV is Rs 1,247.57.
Motilal Oswal ELSS Tax Saver Fund
This Motilal Oswal tax saving fund has given 25.92 per cent in three years. Its NAV is Rs 47.46.
Bank of India ELSS Tax Saver Fund
The fund has given 25.90 per cent in three years. Its NAV is Rs 176.06.