ELSS (Tax Saving) Mutual Funds
At least 80% in equity, with every investment locked for three years.
The only mutual fund that cuts your tax bill — up to ₹1.5 lakh a year under Section 80C of the old regime. The three-year lock is per instalment, so a SIP started today frees up one instalment at a time.
Who it suits. Anybody using the old tax regime who would be investing in equity anyway. Hold for The 3-year lock is a floor, not a plan — treat it as 7 years.
Direct plans in this category
- Motilal Oswal ELSS Tax Saver FundMotilal Oswal Mutual Fund · NAV ₹65.81 8.7% 21.7% 17.1%
- SBI Long Term Advantage Fund - Series VSBI Mutual Fund · NAV ₹33.55 1.6% 20.7% 15.1%
- Quant ELSS Tax Saver Fundquant Mutual Fund · NAV ₹456.72 10.2% 14.9% 14.9%
- SBI ELSS Tax Saver FundSBI Mutual Fund · NAV ₹451.60 -4.3% 13.1% 14.2%
- JM ELSS - Tax Saver FundJM Financial Mutual Fund · NAV ₹60.35 7.4% 16.5% 13.7%
- HDFC ELSS - Tax Saver FundHDFC Mutual Fund · NAV ₹1,441.84 -7.3% 12.3% 13.3%
- ITI ELSS Tax Saver FundITI Mutual Fund · NAV ₹28.57 3.2% 17.1% 12.9%
- SBI Long Term Advantage Fund - Series VISBI Mutual Fund · NAV ₹31.74 -0.7% 9.7% 11.9%
- Tata ELSS - Tax Saver FundTata Mutual Fund · NAV ₹53.21 4.2% 12.7% 11.7%
- BANK OF INDIA MID CAP TAX FUND SERIES 1Bank of India Mutual Fund · NAV ₹31.08 9.7% 14.7% 11.6%
- Kotak ELSS Tax Saver FundKotak Mahindra Mutual Fund · NAV ₹136.23 0.2% 10.9% 11.5%
- Edelweiss ELSS Tax Saver FundEdelweiss Mutual Fund · NAV ₹134.91 3.4% 13.2% 11.3%
- Nippon India ELSS Tax Saver FundNippon India Mutual Fund · NAV ₹141.17 -0.7% 12.1% 11.3%
- DSP ELSS Tax Saver FundDSP Mutual Fund · NAV ₹149.71 -3.2% 12.5% 11.2%
- Franklin India ELSS Tax Saver FundFranklin Templeton Mutual Fund · NAV ₹1,552.86 -5.6% 10.3% 10.9%
- BANDHAN ELSS - Tax Saver FundBandhan Mutual Fund · NAV ₹175.03 -0.4% 9.4% 10.9%
- BANK OF INDIA ELSS TAX SAVER FUNDBank of India Mutual Fund · NAV ₹192.04 3.1% 12.2% 10.9%
- BANK OF INDIA MID CAP TAX FUND Series 2Bank of India Mutual Fund · NAV ₹36.09 5.7% 13.7% 10.7%
- Taurus ELSS Tax Saver FundTaurus Mutual Fund · NAV ₹200.96 -1.6% 10.6% 10.5%
- Mirae Asset ELSS Tax Saver FundMirae Asset Mutual Fund · NAV ₹55.77 -0.3% 12.0% 10.4%
- Parag Parikh ELSS Tax Saver FundPPFAS Mutual Fund · NAV ₹31.05 -10.7% 8.4% 10.2%
- Union ELSS Tax Saver Fund (Formerly Union Tax Saver (ELSS) FundUnion Mutual Fund · NAV ₹70.45 -1.6% 10.3% 9.7%
- PGIM India ELSS Tax Saver FundPGIM India Mutual Fund · NAV ₹39.72 -0.9% 9.4% 9.6%
- Invesco India ELSS Tax Saver FundInvesco Mutual Fund · NAV ₹149.69 -0.5% 12.7% 9.6%
- Canara Robeco ELSS - Tax Saver FundCanara Robeco Mutual Fund · NAV ₹195.88 -1.0% 11.2% 9.5%
- ICICI Prudential ELSS - Tax Saver FundICICI Prudential Mutual Fund · NAV ₹1,016.37 -3.8% 10.9% 9.3%
- SBI Long Term Advantage Fund - Series IVSBI Mutual Fund · NAV ₹47.61 -4.4% 7.7% 9.2%
- Quantum ELSS Tax Saver FundQuantum Mutual Fund · NAV ₹120.23 -7.9% 9.0% 9.1%
- Mahindra Manulife ELSS Tax Saver FundMahindra Manulife Mutual Fund · NAV ₹31.58 -6.4% 7.7% 8.6%
- LIC MF ELSS Tax Saver FundLIC Mutual Fund · NAV ₹168.72 -4.0% 9.9% 8.6%
- Groww ELSS Tax Saver FundGroww Mutual Fund · NAV ₹21.24 -7.0% 9.1% 7.9%
- Aditya Birla Sun Life ELSS Tax Saver FundAditya Birla Sun Life Mutual Fund · NAV ₹67.28 -1.6% 10.6% 7.6%
- UTI ELSS Tax Saver FundUTI Mutual Fund · NAV ₹219.80 -5.1% 8.0% 6.8%
- Shriram ELSS Tax Saver FundShriram Mutual Fund · NAV ₹23.00 -2.6% 7.1% 6.6%
- Axis ELSS- Tax Saver FundAxis Mutual Fund · NAV ₹108.05 -1.6% 10.3% 5.0%
- Bajaj Finserv ELSS - Tax Saver FundBajaj Finserv Mutual Fund · NAV ₹11.65 — — —
- Baroda BNP Paribas ELSS Tax Saver FundBaroda BNP Paribas Mutual Fund · NAV ₹110.80 3.3% 14.9% —
- HSBC ELSS Tax saver FundHSBC Mutual Fund · NAV ₹153.68 3.5% 16.0% —
- NAVI ELSS TAX SAVER NIFTY50 INDEX FUNDNavi Mutual Fund · NAV ₹14.04 -7.2% 6.4% —
- NJ ELSS Tax Saver FundNJ Mutual Fund · NAV ₹14.62 -2.5% 9.3% —
- Samco ELSS Tax Saver FundSamco Mutual Fund · NAV ₹13.93 1.6% 4.9% —
- Sundaram ELSS Tax Saver FundSundaram Mutual Fund · NAV ₹515.59 -6.3% 8.0% —
- WhiteOak Capital ELSS Tax Saver FundWhiteOak Capital Mutual Fund · NAV ₹18.80 2.2% 15.9% —
Point-to-point CAGR from AMFI NAV history, Direct plans only. Ordered by five-year return so the list has a shape, not because the order is a judgement. Past returns do not predict future ones — a fund near the top is usually there because its style suited the last five years, and styles take turns.
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Questions people ask
What is a ELSS (Tax Saving) fund?
At least 80% in equity, with every investment locked for three years. The only mutual fund that cuts your tax bill — up to ₹1.5 lakh a year under Section 80C of the old regime. The three-year lock is per instalment, so a SIP started today frees up one instalment at a time.
Who should invest in ELSS (Tax Saving) funds?
Anybody using the old tax regime who would be investing in equity anyway. A sensible holding period is The 3-year lock is a floor, not a plan — treat it as 7 years.
How is this list ordered?
By five-year CAGR computed from AMFI's published NAV history, within one plan type. It is a sort, not a verdict — a fund near the top is there because its style suited the last five years, which is not a promise about the next five.
Should I choose the Direct or Regular plan?
A Direct plan holds exactly the same portfolio without the distributor commission, so its expense ratio is lower — commonly 0.5% to 1.2% a year — and it compounds ahead of the Regular plan for ever. Choose Regular only if you want an intermediary's advice and are content to pay for it annually.