7 ELSS Funds Turn Rs. 10,000 Monthly SIP Into Rs. 1 Crore in 25 Years
7 ELSS Mutual Funds turned Rs. 10,000 monthly SIP into over Rs. 1 crore in just 25 years. SBI Long Term Equity Fund, HDFC ELSS Tax saver, ICICI Pru ELSS Tax Saver Fund, Franklin India ELSS Tax Saver Fund, Sundaram ELSS Tax Saver Fund, Taurus ELSS Tax Saver Fund, LIC MF ELSS Tax Saver and these seven ELSS or Tax-Savind Funds have completed 25 years in the market.
7 ELSS Funds that turned Minimum Investment into Crores
1. SBI Long-Term Equity Fund
This fund is the oldest ELSS fund, which turned Rs. 10,000 monthly SIP into Rs. 5.66 crore in the past 25 years. SBI Long Term Equity Fund gave an XIRR of 19.43% during the same time.
2. HDFC ELSS Tax saver
The monthly SIP of this fund has turned Rs. 5.08 crore in the past 25 years with an XIRR of 18.77%.
3. ICICI Prudential ELSS Tax Saver Fund
ICICI Prudential ELSS Tax Saver Fund Transformed Rs. 10,000 monthly SIP to Rs. 4.92 crore in just 25 years. This scheme gave an XIRR of 18.57%.
4. Franklin India ELSS Tax Saver Fund
Franklin India ELSS Tax Saver Fund, which turned Rs. 10,000 monthly SIP into Rs. 4.52 crore in the last two decades with an XIRR of 18.60% during the same period.
5. Sundaram ELSS Tax Saver Fund
The monthly SIP of this fund has turned Rs. 3.30 crore in the past 25 years with an XIRR of 16.15%.
6. Taurus ELSS Tax Saver Fund
Taurus ELSS Tax Saver Fund transformed monthly SIP of Rs. 10,000 to Rs. 2.88 crore in the last 25 years. This scheme gave an XIRR of 15.31%.
7. LIC MF ELSS Tax Saver
LIC MF ELSS Tax Saver monthly SIP turned to Rs. 1.88 crore over the past 25 years.
Conclusion
If you want to invest in these mutual funds, you should always consider your investment horizon, goal, and risk appetite before making any investment decisions.
The ELSS scheme is recommended for those investors who are seeking to save taxes under Section 80C of the Income Tax Act 1961. If investors want to invest in a scheme, they can invest a maximum of Rs. 1.5 lakh, and they can claim a tax deduction in the financial year. ELSS, or Tax Savings Funds, have a three-year lock-in period from the date of investment.
