Mutual Fund SIP: ELSS stands for Equity Linked Savings Scheme. These funds come with a lock-in period of 3 years. These are called tax saver funds because up to Rs 1.5 lakh tax can be saved in them under section 80C of Income Tax.
Mutual Fund SIP: The decline in the Indian stock market continues. Investors’ portfolios have been destroyed in this long-running decline. Mutual fund portfolios have also been devastated due to the ongoing decline in the market. However, in this period of decline, there are many mutual fund schemes that have given strong returns to investors. Today we are going to tell you about a scheme here, which has converted a SIP of just Rs 10,000 into Rs 3 crore in 25 years. Apart from this, a scheme has converted a SIP of Rs 10,000 into Rs 1.18 crore in 18 years.
Quant ELSS Tax Saver Fund
Quant launched ELSS Tax Saver Fund in April 2000. This mutual fund scheme has given a return of 15.41 percent since its launch. This simply means that if a person had started a SIP of Rs 10,000 in Quant ELSS Tax Saver Fund in the year 2000, then today his total investment would have been Rs 28.80 lakh and the total value of his fund would have been Rs 3.03 crore.
DSP ELSS Tax Saver Fund
DSP ELSS Tax Saver Fund was launched in January 2007. This fund has given a total return of 15.53 percent since its launch. If a person had started a SIP of Rs 10,000 in DSP ELSS Tax Saver Fund in the year 2007, then today his total investment would have been Rs 21.60 lakh and the total value of his fund would have been Rs 1.18 crore.
What are ELSS funds
ELSS is Equity Linked Savings Scheme. These funds come with a lock-in period of 3 years. These are called tax saver funds because in these, tax up to Rs 1.5 lakh can be saved under section 80C of Income Tax
Most Read Articles:
- Bank New Update: This bank issued alert to customers! check alert immediately otherwise the account can be empty
- Bank FD: Golden opportunity for senior citizens, Bumper interest on special FD, Know FD details
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
