Best Tax Saver Funds

A tax saving fund is a type of mutual where you get an additional benefit of tax saving. These types of mutual funds are eligible for tax deductions under the provisions of Section 80C of the Income Tax Act, 1961. Here you can claim a tax deduction of up to INR 1,50,000 and save taxes up to INR 46,800 in a year. These tax saver funds are also known as ELSS funds which stands for equity-linked savings scheme.

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Best Tax Saver Funds

  1. Quant Tax Plan 

    Quant Tax Plan is an ELSS fund scheme offered by Quant Mutual Fund. This fund aims to generate long-term wealth for its investor by creating a diversified portfolio of equity and equity-related securities with high growth potential. 

    This fund has consistently delivered good returns over the years. 

    Also, this fund has a Sharpe ratio of 1.24. The higher the Sharpe ratio of a fund, the better its returns have been relative to the risk it carries.

    Features of the fund:

    • AUM (Fund Size): Currently, the fund is managing an AUM of ₹555 Crores

    • Minimum Investment: For SIP and lumpsum, the minimum investment is ₹500

    • Exit Load: 0%

    • Lock-in: 3 Years

    • Expense ratio: 0.57%

    Performance of the fund:

    Period

    Returns

    1 year

    61.61 %

    3 years

    36.58%

  2. Mirae Asset Tax Saver Fund

    Mirae Asset Tax Saver Fund is an ELSS mutual fund scheme from Mirae Asset Mutual Fund. This fund aims to generate long-term wealth for its investor by creating a diversified portfolio of equity and equity-related securities with high growth potential.

    Since its inception, the fund has delivered 20.45% CAGR returns. It has delivered returns consistently without many ups and downs in the portfolio.

    Features of the fund:

    • AUM (Fund Size): Currently, the fund is managing an AUM of ₹ 10,087 Crores

    • Minimum Investment: For SIP and lumpsum, the minimum investment is ₹500

    • Exit Load: 0%

    • Lock-in: 3 Years

    • Expense ratio: 0.43%

    Performance of the fund: 

    Period

    Returns

    1 year

    35.42%

    3 years

    24.85%

  3. Canara Robeco Equity Tax Saver

    Canara Robeco Equity Tax Saver is an ELSS mutual fund scheme offered by Canara Robeco. This fund aims to generate long-term wealth for its investor by creating a diversified portfolio of equity and equity-related securities with high growth potential. 

    The fund makes investments both in primary and secondary equity markets and may also invest in ADRs or GDRs, which are the overseas markets dealing with investments in equity.

    Features of the fund:

    • AUM (Fund Size): Currently, the fund is managing an AUM of ₹ 2,876 Crores 

    • Minimum Investment: For SIP and lumpsum, the minimum investment is ₹500

    • Exit Load: 0%

    • Lock-in: 3 Years

    • Expense ratio: 0.76%

    Performance of the fund: 

    Period

    Returns

    1 year

    35.42%

    3 years

    25.06 %

  4. Invesco India Tax Plan

    Invesco India Tax Plan is an ELSS mutual fund scheme from Invesco Mutual Fund. This fund aims to generate long-term wealth for its investor by creating a diversified portfolio of equity and equity-related securities with high growth potential. 

    This fund has been in existence for 15 years, and it was launched on 20/11/2006. Since its inception, it has delivered a return of 15.14% CAGR.

    Features of the fund:

    • AUM (Fund Size): Currently, the fund is managing an AUM of ₹ 1,859 Crores 

    • Minimum Investment: For SIP and lumpsum, the minimum investment is ₹500

    • Exit Load: 0%

    • Lock-in: 3 Years

    • Expense ratio: 0.88%

    Performance of the fund:

    Period

    Returns

    1 year

    32.38%

    3 years

    21.13%

  5. UTI Long Term Equity Fund

    UTI Long Term Equity Fund is an ELSS mutual fund scheme from UTI Mutual Fund. It is an open-ended equity fund that invests a minimum of 80% in equity-related instruments and a maximum of 20% in money market instruments and other liquid instruments. 

    This fund aims to create long-term wealth for its investors by investing the majority of funds in equity and equity-related instruments.

    Features of the fund:

    • AUM (Fund Size): Currently, the fund is managing an AUM of ₹ 2,977 Crores 

    • Minimum Investment: For SIP and lumpsum, the minimum investment is ₹500

    • Exit Load: 0%

    • Lock-in: 3 Years

    • Expense ratio: 1.15%

    Performance of the fund: 

    Period

    Returns

    1 year

    32.75%

    3 years

    21.62%

  6. DSP Tax Saver

    DSP Tax Saver is an ELSS mutual fund scheme from DSP Mutual Fund. This fund aims to generate long-term wealth for its investor by creating a diversified portfolio of equity and equity-related securities. 

    This fund has delivered consistent returns over the years and has invested majorly in the finance, technology, construction, energy, and chemical sectors.

    Features of the fund:

    • AUM (Fund Size): Currently, the fund is managing an AUM of ₹ 9,420 Crores 

    • Minimum Investment: For SIP and lumpsum, the minimum investment is ₹500

    • Exit Load: 0%

    • Lock-in: 3 Years

    • Expense ratio: 0.84%

    Performance of the fund: 

    Period

    Returns

    1 year

    34.36%

    3 years

    22.01%

  7. Axis Long Term Equity

    Axis Long Term Equity is an ELSS mutual fund scheme from Axis Mutual Fund. The scheme aims to create long-term wealth and capital growth for its investors by forming a diversified portfolio of equity and equity-related securities. 

    This fund has allocated 78.56% of the money in large-cap stocks, 18.47% in mid-cap stocks, and 1.81% in small-cap stocks. Axis Long Term Equity invests in businesses with high growth and a sustainable business model. 

    Features of the fund: 

    • AUM (Fund Size): Currently, the fund manages an AUM of ₹ 33,529 Crores 

    • Minimum Investment: For SIP and lumpsum, the minimum investment is ₹500

    • Exit Load: 0%

    • Lock-in: 3 Years

    • Expense ratio: 0.74%

    Performance of the fund: 

    Period

    Returns

    1 year

    32.75%

    3 years

    21.62%

  8. Kotak Tax Saver Fund 

    Kotak Tax Saver Fund is an ELSS mutual fund scheme from Kotak Mahindra Mutual Fund. This fund makes investments in companies that have good financial strength, reputation, and a beneficial track record. The fund management selects companies that are relatively less prone to recessions or cycles. 

    Features of the fund:

    • AUM (Fund Size): Currently, the fund has an AUM of ₹ 2,335 Crores 

    • Minimum Investment: For SIP and lumpsum, the minimum investment is ₹500

    • Exit Load: 0%

    • Lock-in: 3 Years

    • Expense ratio: 0.73%

    Performance of the fund: 

    Period

    Returns

    1 year

    32.75%

    3 years

    21.62%

FAQ's

  • Q. What is an ELSS fund?

    A. ELSS stands for Equity Linked Savings Scheme. This is a type of mutual fund where you benefit from wealth creation and get an additional benefit of tax saving.
  • Q. Is there a difference between a tax saver fund and an ELSS fund?

    A. No, they are the same. There is no difference between a tax saver fund and an ELSS fund.
  • Q. What is SIP?

    A. SIP stands for Systematic Investment Plan. This is a method of investing where the investor, instead of investing all the money as a lumpsum, invests small amounts periodically (weekly, monthly, quarterly, annually, etc.)
  • Q. Are mutual funds regulated?

    A. Yes, the Securities and Exchange Board of India (SEBI) is the regulatory body for mutual funds in India.
  • Q. What are dividends?

    A. Dividends are amounts of money paid regularly (could be quarterly, semi-annually, annually, etc.) by a business to its stakeholders out of its profits.
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