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Top 5 Best Tax Saving ELSS Mutual Funds for FY 24 - 25

Updated on April 14, 2024 , 8128 views

Best elss Funds or Equity Linked Savings Schemes (Tax Saving) are equity diversified Mutual Funds that majorly invest in equity-linked instruments (like shares and stocks) to provide Market-linked returns. Typically, 80% of the fund corpus is invested in equity and the remaining in debt instruments.

Best ELSS funds are also known as the tax saving Mutual Funds as they offer tax benefits under Section 80C of the income tax Act. Moreover, the ELSS Mutual Funds are open-ended, which means that the investors can subscribe in these funds as and when they want.

However, before Investing in these tax saving Mutual Funds, it is suggested to consider a list of best ELSS funds.

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Top 5 ELSS Funds To Invest In FY 24 - 25

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2023 (%)
BOI AXA Tax Advantage Fund Growth ₹153.38
↑ 0.05
₹1,1509.328.453.624.624.734.8
HDFC Long Term Advantage Fund Growth ₹595.168
↑ 0.28
₹1,3181.215.435.520.617.4
Mahindra Mutual Fund Kar Bachat Yojana Growth ₹25.1461
↓ -0.14
₹7901.312.830.819.116.525.8
BNP Paribas Long Term Equity Fund (ELSS) Growth ₹81.3874
↓ -0.14
₹8364.521.341.217.316.331.3
Principal Tax Savings Fund Growth ₹443.396
↓ -1.39
₹1,2223.914.133.619.515.924.5
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 16 Apr 24
*List of ELSS Tax saving mutual funds having net assets > 250 Crore and haing best CAGR returns in last 5 yr

1. BOI AXA Tax Advantage Fund

The Scheme seeks to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities across all market capitalisations. The Scheme is in the nature of diversified multi-cap fund. The Scheme is not providing any assured or guaranteed returns.(There can be no assurance that the investment objectives of the Scheme will be realized.)

BOI AXA Tax Advantage Fund is a Equity - ELSS fund was launched on 25 Feb 09. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 19.8% since its launch.  Ranked 13 in ELSS category.  Return for 2023 was 34.8% , 2022 was -1.3% and 2021 was 41.5% .

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund
Growth
Launch Date 25 Feb 09
NAV (16 Apr 24) ₹153.38 ↑ 0.05   (0.03 %)
Net Assets (Cr) ₹1,150 on 29 Feb 24
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.49
Sharpe Ratio 2.81
Information Ratio 0.74
Alpha Ratio 5.67
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 19₹10,000
31 Mar 20₹8,986
31 Mar 21₹15,681
31 Mar 22₹19,443
31 Mar 23₹19,377
31 Mar 24₹29,944

BOI AXA Tax Advantage Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹556,833.
Net Profit of ₹256,833
Invest Now

Returns for BOI AXA Tax Advantage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 16 Apr 24

DurationReturns
1 Month 5.9%
3 Month 9.3%
6 Month 28.4%
1 Year 53.6%
3 Year 24.6%
5 Year 24.7%
10 Year
15 Year
Since launch 19.8%
Historical performance (Yearly) on absolute basis
YearReturns
2023 34.8%
2022 -1.3%
2021 41.5%
2020 31.2%
2019 14.6%
2018 -16.3%
2017 57.7%
2016 -1.2%
2015 2.1%
2014 44%
Fund Manager information for BOI AXA Tax Advantage Fund
NameSinceTenure
Alok Singh27 Apr 221.93 Yr.

Data below for BOI AXA Tax Advantage Fund as on 29 Feb 24

Equity Sector Allocation
SectorValue
Financial Services25.25%
Industrials10.47%
Consumer Cyclical9.03%
Health Care8.58%
Basic Materials8.09%
Energy7.7%
Technology5.05%
Utility3.86%
Consumer Defensive2.52%
Real Estate1.36%
Asset Allocation
Asset ClassValue
Cash15.6%
Equity81.91%
Debt2.49%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN
4%₹46 Cr620,000
↓ -160,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
3%₹39 Cr280,000
Canara Bank (Financial Services)
Equity, Since 31 Aug 22 | 532483
3%₹39 Cr695,000
↓ -200,000
Oil India Ltd (Energy)
Equity, Since 31 Mar 23 | OIL
3%₹38 Cr702,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
3%₹38 Cr130,000
Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 30 Jun 22 | SUNPHARMA
3%₹34 Cr217,000
Bank of Baroda (Financial Services)
Equity, Since 31 Oct 22 | 532134
3%₹33 Cr1,236,338
↓ -413,662
NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | 532555
3%₹31 Cr920,000
↓ -118,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Dec 22 | LT
3%₹29 Cr82,800
Kotak Mahindra Bank Ltd.
Debentures | -
2%₹28 Cr3,000,000

2. HDFC Long Term Advantage Fund

To generate long term capital appreciation from a portfolio that is predominantly in equity and equity related instruments

HDFC Long Term Advantage Fund is a Equity - ELSS fund was launched on 2 Jan 01. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 21.4% since its launch.  Ranked 23 in ELSS category. .

Below is the key information for HDFC Long Term Advantage Fund

HDFC Long Term Advantage Fund
Growth
Launch Date 2 Jan 01
NAV (14 Jan 22) ₹595.168 ↑ 0.28   (0.05 %)
Net Assets (Cr) ₹1,318 on 30 Nov 21
Category Equity - ELSS
AMC HDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.25
Sharpe Ratio 2.27
Information Ratio -0.15
Alpha Ratio 1.75
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 19₹10,000
31 Mar 20₹7,062
31 Mar 21₹12,561

HDFC Long Term Advantage Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹470,047.
Net Profit of ₹170,047
Invest Now

Purchase not allowed

Returns for HDFC Long Term Advantage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 16 Apr 24

DurationReturns
1 Month 4.4%
3 Month 1.2%
6 Month 15.4%
1 Year 35.5%
3 Year 20.6%
5 Year 17.4%
10 Year
15 Year
Since launch 21.4%
Historical performance (Yearly) on absolute basis
YearReturns
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund Manager information for HDFC Long Term Advantage Fund
NameSinceTenure

Data below for HDFC Long Term Advantage Fund as on 30 Nov 21

Equity Sector Allocation
SectorValue
Asset Allocation
Asset ClassValue
Top Securities Holdings / Portfolio
NameHoldingValueQuantity

3. Mahindra Mutual Fund Kar Bachat Yojana

The investment objective of the Scheme is to generate long-term capital appreciation through a diversified portfolio of equity and equity related securities. The Scheme does not guarantee or assure any returns.

Mahindra Mutual Fund Kar Bachat Yojana is a Equity - ELSS fund was launched on 18 Oct 16. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 13.1% since its launch.  Return for 2023 was 25.8% , 2022 was 2% and 2021 was 39.4% .

Below is the key information for Mahindra Mutual Fund Kar Bachat Yojana

Mahindra Mutual Fund Kar Bachat Yojana
Growth
Launch Date 18 Oct 16
NAV (16 Apr 24) ₹25.1461 ↓ -0.14   (-0.57 %)
Net Assets (Cr) ₹790 on 29 Feb 24
Category Equity - ELSS
AMC Mahindra Asset Management Company Pvt. Ltd.
Rating Not Rated
Risk Moderately High
Expense Ratio 2.48
Sharpe Ratio 2.07
Information Ratio -0.1
Alpha Ratio -4.07
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 19₹10,000
31 Mar 20₹7,563
31 Mar 21₹12,908
31 Mar 22₹16,147
31 Mar 23₹16,184
31 Mar 24₹21,499

Mahindra Mutual Fund Kar Bachat Yojana SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹458,689.
Net Profit of ₹158,689
Invest Now

Returns for Mahindra Mutual Fund Kar Bachat Yojana

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 16 Apr 24

DurationReturns
1 Month 3.2%
3 Month 1.3%
6 Month 12.8%
1 Year 30.8%
3 Year 19.1%
5 Year 16.5%
10 Year
15 Year
Since launch 13.1%
Historical performance (Yearly) on absolute basis
YearReturns
2023 25.8%
2022 2%
2021 39.4%
2020 14.1%
2019 4.5%
2018 -9.8%
2017 24.8%
2016
2015
2014
Fund Manager information for Mahindra Mutual Fund Kar Bachat Yojana
NameSinceTenure
Manish Lodha21 Dec 203.28 Yr.
Fatema Pacha16 Oct 203.46 Yr.

Data below for Mahindra Mutual Fund Kar Bachat Yojana as on 29 Feb 24

Equity Sector Allocation
SectorValue
Financial Services26.46%
Industrials13.1%
Technology12.6%
Consumer Cyclical10.89%
Energy8.91%
Consumer Defensive7.66%
Basic Materials6.94%
Health Care5.39%
Communication Services3.03%
Utility2.68%
Real Estate1.2%
Asset Allocation
Asset ClassValue
Cash1.04%
Equity98.96%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 19 | ICICIBANK
9%₹69 Cr655,620
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 16 | HDFCBANK
7%₹54 Cr387,876
Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 18 | RELIANCE
5%₹43 Cr148,154
Infosys Ltd (Technology)
Equity, Since 29 Feb 20 | INFY
5%₹41 Cr243,807
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 May 19 | TCS
3%₹25 Cr60,651
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Aug 18 | LT
3%₹21 Cr61,571
↑ 23,000
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 28 Feb 18 | MARUTI
3%₹20 Cr18,076
IndusInd Bank Ltd (Financial Services)
Equity, Since 30 Jun 22 | INDUSINDBK
2%₹18 Cr124,300
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 21 | 500034
2%₹17 Cr26,200
Voltas Ltd (Industrials)
Equity, Since 31 Aug 23 | VOLTAS
2%₹16 Cr141,000

4. BNP Paribas Long Term Equity Fund (ELSS)

The investment objective of the Scheme is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities along with income tax rebate, as may be prevalent fromtime to time. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns.

BNP Paribas Long Term Equity Fund (ELSS) is a Equity - ELSS fund was launched on 5 Jan 06. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 12.2% since its launch.  Ranked 22 in ELSS category.  Return for 2023 was 31.3% , 2022 was -2.1% and 2021 was 23.6% .

Below is the key information for BNP Paribas Long Term Equity Fund (ELSS)

BNP Paribas Long Term Equity Fund (ELSS)
Growth
Launch Date 5 Jan 06
NAV (16 Apr 24) ₹81.3874 ↓ -0.14   (-0.17 %)
Net Assets (Cr) ₹836 on 29 Feb 24
Category Equity - ELSS
AMC BNP Paribas Asset Mgmt India Pvt. Ltd
Rating
Risk Moderately High
Expense Ratio 2.37
Sharpe Ratio 2.32
Information Ratio 0
Alpha Ratio 0
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 19₹10,000
31 Mar 20₹8,583
31 Mar 21₹13,596
31 Mar 22₹15,599
31 Mar 23₹14,992
31 Mar 24₹21,302

BNP Paribas Long Term Equity Fund (ELSS) SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹458,689.
Net Profit of ₹158,689
Invest Now

Returns for BNP Paribas Long Term Equity Fund (ELSS)

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 16 Apr 24

DurationReturns
1 Month 4.8%
3 Month 4.5%
6 Month 21.3%
1 Year 41.2%
3 Year 17.3%
5 Year 16.3%
10 Year
15 Year
Since launch 12.2%
Historical performance (Yearly) on absolute basis
YearReturns
2023 31.3%
2022 -2.1%
2021 23.6%
2020 17.8%
2019 14.3%
2018 -9.3%
2017 42.3%
2016 -6.6%
2015 7.7%
2014 53%
Fund Manager information for BNP Paribas Long Term Equity Fund (ELSS)
NameSinceTenure
Sanjay Chawla14 Mar 222.05 Yr.
Pratish Krishnan14 Mar 222.05 Yr.
Miten Vora1 Dec 221.33 Yr.

Data below for BNP Paribas Long Term Equity Fund (ELSS) as on 29 Feb 24

Equity Sector Allocation
SectorValue
Financial Services28.46%
Technology13.71%
Consumer Cyclical12.41%
Industrials11.15%
Health Care7.35%
Energy6.39%
Basic Materials4.63%
Utility4.62%
Communication Services2.96%
Real Estate2.88%
Consumer Defensive1.18%
Asset Allocation
Asset ClassValue
Cash4.26%
Equity95.74%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFCBANK
6%₹48 Cr342,160
↑ 15,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Oct 18 | RELIANCE
5%₹44 Cr152,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 12 | ICICIBANK
5%₹39 Cr371,000
↓ -41,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Apr 20 | LT
3%₹27 Cr77,620
↓ -8,500
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jan 23 | TCS
3%₹25 Cr60,120
Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 23 | 543320
3%₹22 Cr1,345,013
↓ -104,987
Trent Ltd (Consumer Cyclical)
Equity, Since 31 May 22 | 500251
2%₹21 Cr53,614
↓ -10,000
Infosys Ltd (Technology)
Equity, Since 29 Feb 24 | INFY
2%₹20 Cr120,000
↑ 120,000
Bharat Heavy Electricals Ltd (Industrials)
Equity, Since 31 Jan 24 | 500103
2%₹18 Cr775,000
↑ 150,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | 532215
2%₹17 Cr160,000
↑ 21,000

5. Principal Tax Savings Fund

To build a high quality growth-oriented portfolio to provide long-term capital gains to the investors, the scheme aims at providing returns through capital appreciation.

Principal Tax Savings Fund is a Equity - ELSS fund was launched on 31 Mar 96. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 16.2% since its launch.  Ranked 8 in ELSS category.  Return for 2023 was 24.5% , 2022 was 4.3% and 2021 was 32.1% .

Below is the key information for Principal Tax Savings Fund

Principal Tax Savings Fund
Growth
Launch Date 31 Mar 96
NAV (16 Apr 24) ₹443.396 ↓ -1.39   (-0.31 %)
Net Assets (Cr) ₹1,222 on 29 Feb 24
Category Equity - ELSS
AMC Principal Pnb Asset Mgmt. Co. Priv. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.36
Sharpe Ratio 2.17
Information Ratio -0.28
Alpha Ratio -2.44
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 19₹10,000
31 Mar 20₹7,274
31 Mar 21₹12,485
31 Mar 22₹15,564
31 Mar 23₹15,503
31 Mar 24₹21,126

Principal Tax Savings Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹447,579.
Net Profit of ₹147,579
Invest Now

Returns for Principal Tax Savings Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 16 Apr 24

DurationReturns
1 Month 2.6%
3 Month 3.9%
6 Month 14.1%
1 Year 33.6%
3 Year 19.5%
5 Year 15.9%
10 Year
15 Year
Since launch 16.2%
Historical performance (Yearly) on absolute basis
YearReturns
2023 24.5%
2022 4.3%
2021 32.1%
2020 18.9%
2019 2.5%
2018 -9.2%
2017 48.8%
2016 6.2%
2015 2.7%
2014 49.4%
Fund Manager information for Principal Tax Savings Fund
NameSinceTenure
Sudhir Kedia29 Oct 194.42 Yr.
Rohit Seksaria1 Jan 222.25 Yr.

Data below for Principal Tax Savings Fund as on 29 Feb 24

Equity Sector Allocation
SectorValue
Financial Services32.53%
Technology11.35%
Consumer Cyclical11.13%
Industrials9.07%
Health Care8.39%
Consumer Defensive8.27%
Energy6.55%
Basic Materials5.47%
Communication Services2.62%
Real Estate0.42%
Asset Allocation
Asset ClassValue
Cash4.18%
Equity95.82%
Other0%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 09 | HDFCBANK
7%₹85 Cr606,077
Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 21 | RELIANCE
7%₹80 Cr274,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
6%₹70 Cr661,000
Infosys Ltd (Technology)
Equity, Since 31 Jan 09 | INFY
4%₹52 Cr313,000
Force Motors Ltd (Consumer Cyclical)
Equity, Since 30 Nov 21 | 500033
3%₹38 Cr56,000
↓ -3,013
Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 31 Aug 15 | SUNPHARMA
3%₹37 Cr233,000
Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 17 | 532215
3%₹33 Cr311,000
State Bank of India (Financial Services)
Equity, Since 30 Apr 05 | SBIN
3%₹33 Cr444,000
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 21 | TATAMOTORS
2%₹27 Cr288,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 14 | TCS
2%₹25 Cr61,324

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Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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