Are you looking for top ten best ELSS Mutual Funds in India in 2017? If yes, then you are at the right place at the right time. There are many websites that tell you to choose from hundreds of ELSS funds that they think are performing best but most of the time, the websites take commissions from the Mutual Funds house in India. We are not one of those fake websites, so everything we tell you about the best ELSS mutual funds in India is based on proper research. This list has been compiled from various sources like Moneycontrol. We will suggest the ELSS Mutual funds that have been performing well for the last 1 to 3 years.
What are ELSS Mutual Funds?
ELSS means Equity Linked Savings Scheme. Under this scheme, you can save Income Tax up to 1.5 Lakh in India. On the other hand, you can also get good returns on your investment as Mutual Funds return around 10-15% returns on investments. The risk is moderate but without risk, you can not beat inflation. So, it is advisable for every Indian to invest in ELSS Mutual Funds as it helps in two ways.
Top Ten Best ELSS Mutual Funds in India (2017)
Choosing the best performing ELSS fund is a bit tough because there are so many options and no one can predict which mutual fund is going to do good in the future. But some ELSS Mutual Funds have been performing well for years. We are going to list those funds that are giving good returns on investment.
1- Axis Long Term Equity Fund
Axis Long Term Equity Fund was launched in 2009 and is great for you because it is a trusted brand and it has given 22% returns over the past three years which is very good for an ELSS fund. We personally have used it and we can say that it is an amazing fund to invest in.
2- DSP BlackRock Tax Saver Fund
DSP is a well-known company if you want to invest in Mutual Funds. Some of their Equity funds have given returns above 60%. The DSP BR Tax Saver Fund was launched in 2007 and the returns for last three years have been around 24%. It is one of the best ELSS mutual funds in India.
3- Reliance Tax Saver ELSS Fund
Reliance has been growing rapidly. This mutual fund came into existence in 2005 and the returns for the past three years have been around 25% which is exceptional for a tax saver instrument.
4- Birla Sunlife Tax Relief
Birla Sunlife Tax Relief mutual fund is good for those who want to save tax and see their money grow. It saw the light of the day in 1996 and has been growing at the rate of 25% for the last three years.5- Birla
5- Birla Sunlife Tax Plan Fund
Another fund from Birla which is giving good money to the people. This mutual fund came into existence in 1999 and the returns people have enjoyed over the course of last three years have been 24%.
6- Tata India Tax Saving Fund
Tata is a big brand which owns many companies in the World. They have been selling this fund since 1996 and it is growing at an exceptional growth rate of 25% over the last three years. Worth the investment in my opinion.
7- Franklin India Taxshield Fund
Franklin India funds are performing well. We have tested this one too and the returns were fairly good. You are not going to get amazing returns on ELSS funds as their main purpose is to save tax but the returns Franklin India Tax shield gave for the last three years are 21%. Franklin introduced this fund in 1999.
8- ICICI Prudential Long Term Equity Fund (Tax Saving)
ICICI Prudential Long Term Equity Fund is a great mutual fund to invest in. The returns for the last three years have crossed 21% which is good for a new fund. This fund was introduced in 2013.
9- IDFC Tax Advantage ELSS Fund
IDFC Tax Advantage ELSS Mutual Fund is one of the best ELSS mutual funds in India. IDFC launched this fund in 2013 and has been giving 24% returns for the last three years.
10- Principal Tax Savings Fund
Principal is a good company for mutual funds. This tax saving fund is returning 22% to the investors who showed trust in its ability to grow.
So that was it. We have suggested these ten best ELSS mutual funds in India to invest in 2017. Go ahead with one of them and you won’t regret. We personally consider DSP BR and Axis Long Term Equity the best.