NFO Alert: Bajaj Finserv Mutual Fund Introduces Bajaj Finserv ELSS Tax Saver Fund
Bajaj Finserv Ltd. (BFS) is a financial services holding company that provides a variety of financial products and services, including personal loans, SME finance, commercial lending, insurance, and wealth management, for both individuals and businesses.
Bajaj Finserv Mutual Fund is launching the Bajaj Finserv ELSS Tax Saver Fund. This is an open-ended equity-linked saving scheme that enjoys tax benefits and has a legal lock-in period of 3 years.
The scheme NFO (new find offer) will open for subscription on December 24, 2024, and close on January 22, 2025, and the scheme will reopen for ongoing sale and repurchase within five business days from the date of allotment.
Bajaj Finserv ELSS Tax Saver Fund will be compared with BSE 500 TRI (Total Return Index), and the scheme will be handled by these fund managers: Nimesh Chandan, Sorbh Gupta, and Siddharth Chaudhary.
The scheme’s main objective is to generate long-term capital gain from a varied portfolio, primarily equity and equity-related securities, when providing tax deductions on investments made under Section 80C of the Income Tax Act, 1961.
When you want to invest in a scheme, you need to choose a scheme based on risk tolerance, investment horizon, and financial goals before making any investment decision.
Why One Should Invest in ELSS (Equity Linked Savings Schemes) Funds?
This scheme helps investors save their income tax under Section 80C of the Income Tax Act 1961. Taxpayers may claim a deduction of up to Rs. 1.5 lakh from their taxable income under Section 80C. It can generate returns in the range of 10-12% in the long run. ELSS funds have a mandatory 3-year lock-in period, which means you cannot withdraw your investment before the end of the 3-year lock-in period. ELSS funds can be invested using both SIPs (systematic investment plans) and lump sums.
