Crorepati Mutual Fund Schemes: Equity Linked Savings Scheme (ELSS) Mutual Funds are such funds which not only generate money for their investors but also help in saving tax. And you will be surprised to know that there are many Equity Linked Savings Scheme mutual fund schemes, after its launch, investors who have invested Rs 10,000 every month in these funds through Systematic Investment Plan (SIP). These funds have made those investors millionaires.
According to a report by Economic Times, there are seven equity linked mutual fund schemes which have completed 25 years. And after the launch of these schemes, if an investor has started a SIP of Rs 10000, then the investors’ corpus has crossed Rs 1 crore in 25 years.
SBI Long Term Equity Fund
For example, SBI Long Term Equity Fund is the oldest ELSS fund. And in the last 25 years, the investment of investors who made SIP of Rs 10,000 in this fund has increased to Rs 5.66 crore. This fund has given an annual return of 19.42 percent to investors.
HDFC ELSS Tax Saver Scheme
HDFC ELSS Tax Saver Scheme of HDFC Mutual Fund has also given strong returns to its unitholders. If an investor has started a SIP of Rs 10,000 in this fund 25 years ago, his corpus has increased to Rs 5.08 crore. This fund has given annual returns of 18.77 percent.
ICICI Pru ELSS Tax Saver Fund
Even in ICICI Pru ELSS Tax Saver Fund of ICICI Prudential Mutual Fund, if an investor had started a SIP of Rs 10,000 25 years ago, his investment has increased to Rs 4.92 crore. This fund has given a return of 18.57 percent to investors.
Franklin India ELSS Tax Saver Fund
Franklin India ELSS Tax Saver Fund is also included in those tax saving schemes which have given bumper returns to investors. If investors have invested Rs 10,000 in this fund through SIP, then their investment has increased to Rs 4.52 crore and this fund has given a return of 18.06 percent.
Along with giving returns, it also saves tax.
Let us tell you that tax saving mutual funds with equity linked saving schemes are such schemes in which investors invest to save tax under Section 80C of the Income Tax Act with better returns. Investments in ELSS funds remain in the lock-in period for three years.
read this also