Why Investment in equity-linked savings schemes (ELSS) Mutual Fund is beneficial

There are primarily two reasons:

Best returns: Compared to other investment alternatives such as 5 years Fixed Deposits, PPF, etc.,  ELSS tax saving mutual funds has been generating Inflation-beating returns that would not just save tax but would also help in growing your wealth simultaneously.

 

Lock-in period: ELSS offers one of the shortest lock-in periods of 3 years. It implies, unless you’re choosing to stay invested for reaching your long-term financial goals, the money could be withdrawn after the lock-in period.

Public Provident Fund (PPF) locks your funds for 15 years and permits only limited and conditional withdrawal before the lock-in period. Moreover, the withdrawal process isn’t that easy or quick.

Hence, ELSS tax saving mutual funds is one of the best investment options for investors looking to earn good returns as well as save tax without blocking their funds for a longer period.

 

 
 
 
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