ELSS (Equity Linked Savings Scheme) mutual funds are tax-saving equity funds that qualify for deduction under Section 80C of the Income Tax Act, up to Rs 1.5 lakh per financial year. With the shortest lock-in period of just 3 years among all Section 80C investments, ELSS funds offer the dual benefit of tax saving and wealth creation through equity market participation.
ELSS funds must invest at least 80% of their assets in equity and equity-related instruments as per SEBI guidelines. They are the most efficient tax-saving instrument as they combine equity returns with tax benefits. For investors in the old tax regime, ELSS can save up to Rs 46,800 in taxes annually (at the highest tax bracket).
| # | Fund Name | NAV (₹) | 1Y Return ▼ | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| 1 | quant ELSS Tax Saver Fund - Growth Option | 445.63 | +8.75% | +18.57% | +17.01% |
| 2 | Motilal Oswal ELSS Tax Saver Fund - Direct Plan - Growth Option | 62.64 | +3.72% | +24.01% | +18.97% |
| 3 | Tata ELSS Fund-Growth | 51.46 | +3.21% | +15.16% | +13.93% |
| 4 | BARODA BNP PARIBAS ELSS Tax Saver Fund - Direct Plan - Growth Option | 108.29 | +1.94% | +17.06% | — |
| 5 | Edelweiss ELSS Tax Saver Fund - Direct Plan-Growth Option | 131.78 | +1.60% | +15.13% | +13.68% |
| 6 | Nippon India ELSS Tax Saver Fund - Direct Plan Growth Plan - Growth Option | 140.82 | +0.86% | +16.23% | +14.50% |
| 7 | JM ELSS Tax Saver Fund (Direct) - Growth Option | 55.27 | +0.80% | +16.71% | +15.11% |
| 8 | HSBC ELSS Tax saver Fund | 148.23 | +0.59% | +17.25% | — |
| 9 | BAJAJ FINSERV ELSS TAX SAVER FUND | 11.34 | +0.37% | — | — |
| 10 | Mirae Asset ELSS Tax Saver Fund | 55.03 | -0.14% | +14.85% | +12.82% |
| 11 | BANDHAN ELSS Tax Saver Fund | 172.96 | -0.26% | +12.45% | +13.25% |
| 12 | BANK OF INDIA ELSS Tax Saver | 187.20 | -0.31% | +15.99% | +14.11% |
| 13 | Aditya Birla Sun Life ELSS Tax Saver Fund - Growth | 66.68 | -0.51% | +13.55% | +9.00% |
| 14 | WhiteOak Capital ELSS Tax Saver Fund Direct Plan Growth | 17.91 | -0.57% | +18.30% | — |
| 15 | Union ELSS Tax Saver Fund - Direct Plan - Growth Option | 68.09 | -1.33% | +12.52% | +12.72% |
| 16 | CANARA ROBECO ELSS TAX SAVER - DIRECT PLAN - GROWTH OPTION | 192.99 | -1.62% | +13.21% | +12.17% |
| 17 | DSP ELSS Tax Saver Fund | 149.79 | -3.15% | +16.59% | +13.98% |
| 18 | Shriram ELSS Tax Saver Fund | 22.85 | -3.17% | +9.59% | +9.63% |
| 19 | SBI ELSS Tax Saver FUND | 458.80 | -3.26% | +18.48% | +16.74% |
| 20 | Kotak ELSS Tax Saver Fund-Growth | 130.67 | -3.43% | +12.66% | +12.92% |
Data sourced from AMFI & mfapi.in. Returns are annualised CAGR. Past performance doesn't guarantee future results. Last updated: 07 Jun 2026
Frequently Asked Questions
How much tax can I save with ELSS?
Under Section 80C of the old tax regime, you can claim deductions up to Rs 1.5 lakh per year by investing in ELSS funds. At the highest tax bracket of 30%, this translates to a tax saving of up to Rs 46,800 (including cess).
What is the lock-in period for ELSS funds?
ELSS funds have a mandatory lock-in period of 3 years from the date of each investment. For SIP investors, each monthly installment has its own 3-year lock-in period.
Can I invest more than Rs 1.5 lakh in ELSS?
Yes, you can invest any amount in ELSS funds, but the tax deduction under Section 80C is limited to Rs 1.5 lakh per financial year. Any amount above this does not get additional tax benefit.
Is ELSS better than PPF for tax saving?
ELSS offers potentially higher returns with a shorter 3-year lock-in compared to PPF’s 15-year lock-in. However, ELSS carries market risk while PPF offers guaranteed returns. The choice depends on your risk appetite.