Here is our much awaited list of Top 10 ELSS Funds in India 2024. ELSS Funds or Equity Linked Saving Schemes are Tax Saving Funds which has a minimum lock-in period of 3 Years.
In this Article, We will discuss in detail about Best ELSS Funds in India or Best Tax Saving Funds of 2024. Along with that we will also analyze in-depth performance of these list of Liquid Funds.
What is ELSS or Equity Linked Saving Schemes?
ELSS or Equity Linked Saving Schemes is the most common type of mutual fund. Investors in ELSS or Equity Linked Saving Schemes invest money in the majority of its corpus in equity and equity-related goods and services. Later we will also discuss about the Top 10 ELSS.
ELSS is the stock which comes with the lock-in-period as well as, it will give you many tax benefits. This fund is very suitable for traders who have a high-risk profile attached with them. There can be constant fluctuation in the ELSS depending on the market of equity.
This scheme comes under the open-ended scheme. Mainly, the user sees three different options while choosing and making an investment in this sector such as Growth Option, Dividend Option and Dividend Re-investments option.
- Growth option: The money earned by the fund is never shared to unit holders as well as many traders will not be able to earn during the time-period.
- Dividend option: This is the option in which distributes income received by the stock to the investors as dividends. The fund itself decides the date of the distribution. Apart from that, negative income will not distribute any dividend.
- Dividend Re-investments option: Funds that are declared dividends are reinvested but this only happens when investor choose this option.
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Ranking of Top 10 ELSS Funds or Tax Saving Funds in India:
The Best performing equity linked saving schemes are shown in below table:
| Rank | Name of the Fund | 1 Yr. – Return | 3 Yr. – Return |
| 1 | Quant Tax Plan Direct-G | -1.16% | 16.62% |
| 2 | Motilal Oswal Long Term Equity Fund Direct-Growth | -2.57% | 15.48% |
| 3 | DSP Tax Saver Direct Plan-Growth | -4.18% | 12.70% |
| 4 | Principal Tax Savings Fund Direct | -6.21% | 13.94% |
| 5 | Aditya Birla Sun Life Tax Relief 96-Growth | -1.78% | 12.48% |
| 6 | IDFC Tax Advantage (ELSS) Fund Regular-Growth | -3.88% | 12.84% |
| 7 | HDFC LT Advantage Direct-G | -1.09% | 14.38% |
| 8 | SBI Tax Advantage Series II-G | -8.81% | 14.34% |
| 9 | L&T Tax Adv Direct-G | -1.75% | 14.13% |
| 10 | Invesco India Tax Plan Direct-G | 2.68% | 13.28% |
What are the different types of ELSS?
As we know, ELSS is the fund that gives higher returns on the investments as well as it also qualifies for tax advantages under Section 80C. There are also many types of Equity Linked Saving Schemes such as:
Dynamic Bond Fund
It is the type of fund that can offer returns in two rates such as rising rate and declining rate. Between bonds of varies, maturity profiles its interest rate fluctuates the most.
Small-Cap Equity Fund
This kind of fund invests in high-growth smaller companies which are discovering the market. Well, the potential rate is high in this fund but, it also has a higher risk.
Short-Term Debt Fund
It is the type of the fund which includes investment in shirt tenure binds. It will moderate as well as dependable returns and it can give a base for your entire portfolio.
Gilt Fund
Another most famous type is Gilt fund. It creates one of the most declining interest rate scenarios by investing in long tenure government bonds.. The returns are earned by investors in the form of interest accrued and capital appreciation on the amount which has been invested by the investors.
These funds are provided to the GOI by the reserve bank of India (RBI) who not only act as an apex bank but also act as a banker to the government.
Equity-Oriented Balanced Fund:
If you want a stable return then, this fund is one of the best. Over long run overcoming of the interim lightness, it gives a stable return. The main objective of an equity-oriented balanced fund is to give the best of both worlds-the return potential.
Details of Best ELSS Funds in India
Find detailed analysis of these Top 10 Equity Linked Saving Schemes in India:
Quant Tax Plan Direct-G:
To create maximum capital investment by investing predominantly in a very good portfolio of Equity Shares. This is the open-ended firm and growth is the investment plan with the minimum investment of Rs.500.
The asset size is Rs. 2.29 Cr. and asset date is Sep 30, 2021. This fund was launched on Jan 01, 2013 and Sanjeev Sharma & Shamil Mehra is the fund manager.
| Period | Return |
| 6 month | 2.2.% |
| 1 year | -1.16% |
| 3 years | 16.62% |
Motilal Oswal Long Term Equity Fund Direct-Growth
Nifty 500 is the benchmark of this fund which was launched on Jan 15, 2015. The open-ended fund has an investment plan of growth. The asset size of this product is Rs. 186. 25 Cr and asset date is Sep 30, 2021.
It requires only Rs. 5000 as the minimum investment rate. Gautam Sinha Roy / Snigdha Sharma is the fund manager.
| Period | Return |
| 6 month | -6.9% |
| 1 year | -2.57% |
| 3 years | 15.48% |
DSP Tax Saver Direct Plan-Growth:
An open-ended equity linked savings scheme (ELSS) whose working is based on the investment plan of growth under the benchmark of Nifty 500. This fund is best and it was launched on Jan 01, 2013.
The asset size of this fund is Rs. 573.61 Cr. and asset date is Sep 30, 2021. Rohit Singhania is the fund manager of DSP Tax Saver Direct Plan-Growth.
| Period | Return |
| 6 month | 0.7% |
| 1 year | -4.18% |
| 3 years | 12.70% |
Principal Tax Savings Fund Direct:
The high-quality open-ended fund has an investment plan of growth and the launch date is Jan 01, 2013. The benchmark of this fund is Nifty 500. The asset size is Rs. 20. 46 Cr. and asset date is Sep 30, 2021.
The minimum investment rate is Rs. 500 only. P. V. K. Mohan is the fund manager of the fund.
| Period | Return |
| 6 month | -0.2% |
| 1 year | -6.21% |
| 3 years | 13.94% |
Aditya Birla Sun Life Tax Relief 96-Growth:
This is open-ended equity linked saving scheme which was launched on Feb 03, 2008. The benchmark of this fund is S&P BSE 200 and the investment plan is growth.
The asset size of this fund is Rs. 5808.38 Cr. and asset date is Sep 30, 2021. With the minimum investment of Rs.500 you can start putting your money in this. Ajay Garg is the fund manager of this.
| Period | Return |
| 6 month | -2.3% |
| 1 year | -1.78% |
| 3 years | 12.48% |
IDFC Tax Advantage (ELSS) Fund Regular-Growth:
This is the open-ended fund which was launched on Dec 17, 2008. Well, this is the open-ended fund type which has an investment plan of growth. Well, the main aim of this fund is to make long-term capital growth from a different portfolio. The benchmark of this fund is S&P BSE 200.
The minimum investment is Rs. 500 and Daylynn Pinto is the fund manager. The asset size is Rs. 1437.16 Cr. and asset date is Sep 30, 2021.
| Period | Return |
| 6 month | -5.1% |
| 1 year | -3.88% |
| 3 years | 12.84% |
HDFC LT Advantage Direct-G:
Launched on Jan 01, 2013, HDFC Long Term Advantage Fund is the open-ended fun type which has a minimum investment of just Rs.500. The benchmark of this fund is S&P BSE SENSEX under the investment plan of growth.
The asset size is Rs. 138.17 Cr and asset date is Sep 30, 2021. Chirag Setalvad is the fund manager of HDFC.
| Period | Return |
| 6 month | 3.0 |
| 1 year | -1.09% |
| 3 years | 14.38% |
SBI Tax Advantage Series II-G:
SBI Tax Advantage Fund is the fund that was launched on Mar 21, 2012, under the benchmark of S&P BSE 500. This is the open-ended fund which runs for the investment plan of growth.
Fund Manager Dharmendra Grover has revealed the asset size Rs. 25.31 Cr. and asset date is Sep 30, 2021.
The minimum investment of this is just Rs. 500. The main aim of this fund is to create capital appreciation over a period of 10 years.
| Period | Return |
| 6 month | 3.3 |
| 1 year | -8.81% |
| 3 years | 14.34% |
L&T Tax Adv Direct-G:
L&T Tax Advantage Fund-Direct Plan (G) is working on the investment plan of growth as it is the open-ended fund. The fund was launched on Jan 01, 2013. The benchmark of this fund is S&P BSE 200.
The asset size is Rs. 157. 03 and date are Sep 30, 2021. You only need Rs. 500 for the minimum investment. S. N. Lahiri is the fund manager of this fund.
| Period | Return |
| 6 month | -4.8% |
| 1 year | -1.75% |
| 3 years | 14.13% |
Invesco India Tax Plan Direct-G:
Invesco India Tax Plan – Direct Plan (G) is the open-ended fund which was launched on Dec 29, 2006 under the benchmark of S&P BSE 200. The investment plan of growth can be started with the minimum investment of Rs.500.
Amit Ganatra / Dhimant Kothari is the fund manager of this fund who decided the asset size as 37.81 Cr.
| Period | Return |
| 6 month | -1.6% |
| 1 year | 2.68% |
| 3 years | 13.28% |
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