👉 #1. Quant Tax Plan

This is undeniably one of the best-performing ELSS mutual funds in India. Quant Tax Plan Regular Growth has given investors a CAGR of over 20 percent in the last five years. Moreover, this ELSS mutual fund scheme has also outperformed other MFs schemes in the category by a huge margin. Approximately 70 percent of its total corpus is invested in large-cap stocks, with a limited (10.5 percent) exposure in small-cap companies. Around 50 percent of its holdings are in the financial, consumer staples, and energy sectors.

👉 #2. Mirae Asset Tax Saver Fund

Another great ELSS mutual fund scheme is Mirae Asset Tax Saver Fund. Amongst the consistent performers in the category, the scheme’s regular growth option has given investors over 17 percent annual returns in the past three years. Moreover, it also has a reasonably low expense ratio of 1.68 as of February 17th, 2023. It has a small exposure of less than 10 percent in small-cap stocks.

Watch Mirae Asset Tax Saver Fund Review - Watch Here

👉 #3. PGIM India ELSS Tax Saver Fund

If you want to avail tax benefits on your mutual fund investments and get great returns from the same, then PGIM India ELSS Tax Saver Fund can be a great bet. The fund’s impressive past performance makes it one of the best ELSS mutual funds to invest in 2023. PGIM India ELSS Tax Saver Fund has a history of consistent performance and delivered competitive returns over the long term. The fund has received several awards and recognition for its performance, investment strategy, and risk management practices.

👉 #4. Canara Robeco Equity Tax Saver Fund

A consistent performer since its inception, Canara Robeco Equity Tax Saver Fund is the next name on this list of best ELSS mutual fund schemes. Canara Robeco Equity Tax Saver Fund has a negligible exposure of around 2.5 percent in small-cap stocks. Additionally, its holdings in mid-cap companies also amount to less than 20 percent.

Watch Canara Robeco Equity Tax Saver Fund Review - Watch Here

👉 #5. Kotak Tax Saver Scheme

Here is another great mutual fund scheme for you to create wealth in the long term and save tax. The regular growth option of this scheme has given over 15 percent and 13 percent annual returns in the past three and five years, respectively. The scheme has an exposure of less than 10 percent in small-cap stocks and invests almost 70 percent in large-cap companies.

Watch Canara Kotak Tax Saver Scheme Review - Watch Here

👉 #6. DSP Tax Saver Fund

DSP Tax Saver Fund is the top fund in the ELSS category. This fund has consistently outperformed its benchmark as well as category average returns over longer periods.

DSP Tax Saver Fund is ranked among the highest in the parameters of consistency, valuations, and concentration as per the ZFunds ratings.

DSP Tax Saver Fund is a good choice in the category with the perspective of long-term investment for higher returns.

₹10,000 invested in December 2015 would have been approx. Rs.17,800.
₹1,000 invested in monthly SIP since January 2016 would have been approx. ₹81,600.

👉 #7. Axis Long-Term Equity Fund

A Top-performing fund, Axis Long term equity fund has consistently outperformed its benchmark as well as the category average returns in the last 10 years with significant margins.

The fund is amongst the highest scorers in various metrics like Capture ratio, Risk-adjusted score & Consistency as per ZFunds Ratings.

Axis Long Term Equity Fund is an excellent choice in the ELSS category given its consistency & management of downside risks.

₹10,000 invested in December 2015 would have been approx. Rs.18,700.
₹1,000 invested in monthly SIP since January 2016 would have been approx. ₹88,600.

Watch Axis Long Term Equity Fund Review - Watch Here

👉 #8. Kotak Tax Saver Fund

A fund that has outperformed its benchmark consistently over the medium to long periods.

The Fund is amongst the highest scorers in the parameter of consistency (of generating alpha in the last 5 years) & a good score in concentration in the ELSS category. Also, it has been one of the highest scorers in the very important parameter of volatility, thereby taking the fund into the Top 3 ELSS Funds as per ZFunds Ratings.

Kotak Taxsaver Fund is an ideal Tax saving fund for a long-term investment.

₹10,000 invested in December 2015 would have been approx. Rs.17,300.
₹1,000 invested in monthly SIP since January 2016 would have been approx. ₹81,400.

👉 #9. Canara Robeco Equity Tax Saver Fund

Canara Robeco Equity Tax Saver Fund is among the top 5 funds in the category because of its highest score in various metrics like consistency, performance against benchmark, capture ratio, and risk-adjusted score as per the ZFunds ratings

Canara Robeco Equity Tax Saver Fund has 53 stocks in its portfolio with allocation across market capitalizations and therefore, providing a diversified portfolio.

The fund can be a good choice for investment as it has the potential to offer good returns in the long term.

₹10,000 invested in December 2015 would have been approx. Rs.18,300.
₹1,000 invested in monthly SIP since January 2016 would have been approx. ₹89,500.

👉 #10. Invesco India Tax Plan Fund

Invesco India Tax Plan Fund is one of the top performers in the category of ELSS Fund. It has a good score in the various parameters like performance against benchmark, capture ratio, volatility, and consistency score as per the ZFunds ratings.

Invesco India Tax Plan Fund is a good choice in the ELSS category given its good performance against the benchmark and category.

₹10,000 invested in December 2015 would have been approx. Rs.11,500.
₹1,000 invested in monthly SIP since January 2016 would have been approx. ₹82,700.

Faqs:

1. Who Should Invest in ELSS Mutual Funds?

Investors in ELSS seek long-term gains that outperform inflation while also offering tax advantages.

2. How to invest in ELSS Funds?

Investment in the ELSS fund can be done in the same way as in any mutual fund.

3. Advantages of Investing in ELSS Funds

Investing in ELSS (Equity Linked Savings Scheme) funds offers tax benefits and the potential for long-term wealth creation through equity investments in the Indian market.

4. How to invest in Best ELSS mutual funds online?

You can invest in ELSS mutual funds online through online platforms such as ZFunds App..

Log on to Zfunds App.
You can pick the mutual fund house from the list of fund houses
Select the ELSS mutual fund scheme based on your investment objectives and risk tolerance.
Then perform all the formalities related to fund investment.
Select the amount you plan to invest in the ELSS mutual fund scheme and the mode as either One Time or Monthly SIP.

5. Is ELSS a good mutual fund option?

Yes, ELSS can be a good mutual fund option for those seeking tax-saving opportunities with the potential for higher returns through equity investments in India.

6. Is PPF better than ELSS?

PPF (Public Provident Fund) offers safety and fixed returns, while ELSS offers the potential for higher returns but involves market risk; the choice depends on your financial goals and risk tolerance.

7. Is ELSS high risk?

Yes, due to its exposure to stock markets, ELSS (stock Linked Savings Scheme) has a higher risk than other investment options.

More Information:

MFD Karein Shuru

Difference between ELSS and ULIP
ELSS VS PPF
Best large cap mutual funds to invest in India
Best Small Cap Mutual Funds to invest in India
Best Multi Cap Mutual Funds to invest in India
Nippon India Small Cap Fund

Mirae Asset Large Cap Fund

Nippon India Growth Fund

Axis Flexi Cap Fund