Best Tax Saving SIP Mutual Funds in India≈
Below is the list of tax saver best SIP plans:
| Fund Name |
Risk |
1Y Returns |
Fund Size(in Cr) |
| Bandhan Tax Advantage (ELSS) Fund |
Very High |
16.8% |
₹5,160 |
| Bank of India Tax Advantage Fund |
Very High |
36.3% |
₹951 |
| Canara Robeco Equity Tax Saver Fund |
Very High |
11.6% |
₹6,041 |
| DSP ELSS Tax Saver Fund |
Very High |
18.3% |
₹16,610 |
| DSP Tax Saver Fund |
Very High |
19.1% |
₹11,693 |
| HDFC ELSS Tax Saver Fund |
Very High |
15.7% |
₹15,728 |
| Mahindra Manulife ELSS Fund |
Very High |
16.4% |
₹658 |
| Mirae Asset Tax Saver Fund |
Very High |
19.9% |
₹18,842 |
| Motilal Oswal ELSS Tax Saver Fund |
Very High |
25.7% |
₹4,414 |
| Parag Parikh ELSS Tax Saver Fund |
Moderately High |
17.1% |
₹4,506 |
| Parag Parikh Tax Saver Fund |
Moderately High |
23.8% |
₹2,137 |
| Quant ELSS Tax Saver Fund |
Very High |
4.0% |
₹10,512 |
| SBI Long-Term Equity Fund |
Very High |
20.1% |
₹27,791 |
Disclaimer: ≈ Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
- Insurance Companies
- Mutual Funds
|
Returns |
| Fund Name |
5 Years |
7 Years |
10 Years |
| SBI Life |
13.36% |
13.07% |
|
| HDFC Life |
19.5% |
15.86% |
|
| Axis Max Life |
22.7% |
22.03% |
|
| ICICI Prudential Life |
16.12% |
14.63% |
|
| Tata AIA Life |
29% |
23.3% |
|
| Bajaj Life |
17.29% |
14.13% |
|
| Birla Sun Life |
19.5% |
16.12% |
|
| PNB MetLife |
31.41% |
24.68% |
|
| Canara HSBC Life |
13.03% |
11.54% |
|
| Star Union Dai-ichi Life |
15.2% |
- |
|
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Last updated: Nov 2025
What are Tax Saving SIPs?
Tax Saving SIPs, short for Systematic Investment Plans in Equity Linked Savings Schemes (ELSS), are a popular investment option in India. ELSS funds are a type of mutual fund that primarily invests in equities.
- How they work: You invest a fixed amount of money regularly (monthly, quarterly, etc.) into an ELSS fund.
- SIP Tax Benefits: The biggest advantage is the tax deduction under Section 80C of the Income Tax Act. You can claim a deduction of up to ₹1.5 lakhs per year on your investments in ELSS funds. This helps reduce your taxable income and, consequently, your tax liability.
- Lock-in Period: ELSS funds have a mandatory lock-in period of 3 years. This means you cannot withdraw your investments before the completion of 3 years from the date of investment.
SIP Calculator
Monthly Investment
₹22.4 L
Top Funds with High Returns (Past 7 Years)
13.06%
Equity Pension
15.9%
Opportunities Fund
19.1%
Pension Growth Super
13.24%
Opportunities Fund
20.99%
Multi Cap Fund
14.21%
Accelerator Mid-Cap Fund II
15.9%
Multiplier
14.71%
Frontline Equity Fund
18.41%
Pension Mid Cap Fund
11.24%
Equity II Fund
14.8%
US Equity Fund
15.09%
Growth Opportunities Plus Fund
11.69%
Equity Top 250 Fund
14.14%
Future Apex Fund
12.11%
Pension Dynamic Equity Fund
14.5%
Pension Enhanced Equity
Who Should Save in Tax Saving SIPs?
Tax Saving SIPs can be a suitable investment option for a wide range of individuals, especially those who:
- Fall under the tax bracket: Individuals who fall under the tax bracket and are looking to reduce their tax burden can benefit significantly from investing in ELSS funds.
- Have a long-term investment horizon: Since ELSS funds have a lock-in period of 3 years, they are most suitable for individuals with a long-term investment horizon of at least 5-7 years or more.
- Seek equity exposure: Individuals who are comfortable with the inherent risks associated with equity investments and are looking to build long-term wealth can consider investing in ELSS funds.
- Prefer systematic investing: SIPs promote disciplined investing by encouraging regular contributions, making them suitable for individuals who prefer a systematic approach to investing.
Conclusion
Tax Saving SIPs present a valuable opportunity for individuals seeking a combination of tax benefits and long-term wealth creation. By investing systematically in equity-oriented funds, you can harness the power of compounding and potentially achieve significant returns. However, it's crucial to carefully consider factors such as fund performance, fund manager expertise, and your own risk tolerance before making investment decisions. Remember that ELSS funds have a mandatory lock-in period of 3 years, so they are most suitable for investors with a long-term investment horizon. By conducting thorough research and aligning your investment strategy with your financial goals, you can effectively leverage Tax Saving SIPs to build a strong financial future while optimizing your tax savings.
