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Top 5 Best Tax Saving ELSS Mutual Funds for FY 25 - 26

Updated on May 15, 2025 , 9107 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 25 - 26

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	5 YR (%)	2024 (%)
BOI AXA Tax Advantage Fund Growth	₹158.68 ↑ 1.94	₹1,320	12.2	-2.2	-0.1	22.1	26.9	21.6
Principal Tax Savings Fund Growth	₹498.812 ↑ 0.74	₹1,288	8.3	4.4	9.1	18.7	25.2	15.8
Mahindra Mutual Fund Kar Bachat Yojana Growth	₹28.2686 ↑ 0.10	₹895	11.4	5.5	9.6	19.1	25	12.3
PGIM India Tax Savings Fund Growth	₹34.69 ↑ 0.08	₹741	9.2	5.6	13.6	16.9	24.7	15.6
Sundaram Diversified Equity Fund Growth	₹216.103 ↑ 0.21	₹1,428	7.9	4.2	9.2	17.1	23.5	12
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 16 May 25

*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 18.6% since its launch. Ranked 13 in ELSS category. Return for 2024 was 21.6% , 2023 was 34.8% and 2022 was -1.3% .

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund Growth
Launch Date	25 Feb 09
NAV (16 May 25)	₹158.68 ↑ 1.94 (1.24 %)
Net Assets (Cr)	₹1,320 on 31 Mar 25
Category	Equity - ELSS
AMC	BOI AXA Investment Mngrs Private Ltd
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	2.37
Sharpe Ratio	-0.21
Information Ratio	0.26
Alpha Ratio	-5.05
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Apr 20	₹10,000
30 Apr 21	₹16,084
30 Apr 22	₹18,845
30 Apr 23	₹20,112
30 Apr 24	₹31,238
30 Apr 25	₹29,521

BOI AXA Tax Advantage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹584,107.
Net Profit of ₹284,107 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 May 25

Duration	Returns
1 Month	6.9%
3 Month	12.2%
6 Month	-2.2%
1 Year	-0.1%
3 Year	22.1%
5 Year	26.9%
10 Year
15 Year
Since launch	18.6%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	21.6%
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%

Fund Manager information for BOI AXA Tax Advantage Fund

Name	Since	Tenure
Alok Singh	27 Apr 22	3.01 Yr.

Data below for BOI AXA Tax Advantage Fund as on 31 Mar 25

Equity Sector Allocation

Sector	Value
Financial Services	26.06%
Basic Materials	15.61%
Industrials	15.18%
Technology	11.98%
Utility	6.77%
Consumer Cyclical	5.09%
Consumer Defensive	4.01%
Health Care	3.65%
Real Estate	2.62%
Communication Services	1.98%
Energy	1.31%

Asset Allocation

Asset Class	Value
Cash	5.72%
Equity	94.27%
Debt	0.01%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Vedanta Ltd (Basic Materials) Equity, Since 31 Mar 24 \| 500295	5%	₹65 Cr	1,412,000
HDFC Bank Ltd (Financial Services) Equity, Since 31 Dec 10 \| HDFCBANK	5%	₹65 Cr	355,000
State Bank of India (Financial Services) Equity, Since 31 Oct 21 \| SBIN	5%	₹65 Cr	839,000
Coforge Ltd (Technology) Equity, Since 30 Jun 23 \| COFORGE	4%	₹53 Cr	65,600
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 18 \| ICICIBANK	3%	₹41 Cr	305,000 ↑ 20,000
Ami Organics Ltd (Basic Materials) Equity, Since 31 May 24 \| 543349	3%	₹39 Cr	158,900 ↓ -2,571
Hindustan Aeronautics Ltd Ordinary Shares (Industrials) Equity, Since 31 Jul 23 \| HAL	3%	₹36 Cr	86,000
NTPC Ltd (Utilities) Equity, Since 30 Apr 22 \| 532555	3%	₹34 Cr	955,000
REC Ltd (Financial Services) Equity, Since 30 Sep 23 \| 532955	2%	₹32 Cr	741,000 ↑ 121,000
Dixon Technologies (India) Ltd (Technology) Equity, Since 31 Dec 23 \| DIXON	2%	₹32 Cr	24,000

2. 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% since its launch. Ranked 8 in ELSS category. Return for 2024 was 15.8% , 2023 was 24.5% and 2022 was 4.3% .

Below is the key information for Principal Tax Savings Fund

Principal Tax Savings Fund Growth
Launch Date	31 Mar 96
NAV (16 May 25)	₹498.812 ↑ 0.74 (0.15 %)
Net Assets (Cr)	₹1,288 on 31 Mar 25
Category	Equity - ELSS
AMC	Principal Pnb Asset Mgmt. Co. Priv. Ltd.
Rating	☆☆☆☆
Risk	Moderately High
Expense Ratio	2.26
Sharpe Ratio	0.02
Information Ratio	-0.26
Alpha Ratio	-0.34
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Apr 20	₹10,000
30 Apr 21	₹15,168
30 Apr 22	₹18,540
30 Apr 23	₹19,428
30 Apr 24	₹26,470
30 Apr 25	₹28,044

Principal Tax Savings Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹570,326.
Net Profit of ₹270,326 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 May 25

Duration	Returns
1 Month	5.3%
3 Month	8.3%
6 Month	4.4%
1 Year	9.1%
3 Year	18.7%
5 Year	25.2%
10 Year
15 Year
Since launch	16%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	15.8%
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%

Fund Manager information for Principal Tax Savings Fund

Name	Since	Tenure
Sudhir Kedia	29 Oct 19	5.51 Yr.
Rohit Seksaria	1 Jan 22	3.33 Yr.

Data below for Principal Tax Savings Fund as on 31 Mar 25

Equity Sector Allocation

Sector	Value
Financial Services	32.79%
Industrials	12.06%
Consumer Cyclical	10.9%
Health Care	6.9%
Technology	6.68%
Basic Materials	5.68%
Consumer Defensive	5.67%
Energy	5.47%
Communication Services	5.18%
Utility	1.94%

Asset Allocation

Asset Class	Value
Cash	6.17%
Equity	93.83%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jul 09 \| HDFCBANK	9%	₹118 Cr	644,000
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 09 \| ICICIBANK	8%	₹99 Cr	737,000
Reliance Industries Ltd (Energy) Equity, Since 31 Dec 21 \| RELIANCE	4%	₹55 Cr	434,000
Larsen & Toubro Ltd (Industrials) Equity, Since 31 Mar 13 \| LT	4%	₹47 Cr	134,000
Infosys Ltd (Technology) Equity, Since 31 Jan 09 \| INFY	3%	₹43 Cr	276,000 ↓ -30,000
State Bank of India (Financial Services) Equity, Since 30 Apr 05 \| SBIN	3%	₹41 Cr	532,000
Axis Bank Ltd (Financial Services) Equity, Since 30 Sep 17 \| 532215	3%	₹34 Cr	311,000
InterGlobe Aviation Ltd (Industrials) Equity, Since 31 Oct 22 \| INDIGO	2%	₹32 Cr	62,000 ↓ -1,000
UltraTech Cement Ltd (Basic Materials) Equity, Since 31 Jan 14 \| 532538	2%	₹31 Cr	27,000
Bharti Airtel Ltd (Partly Paid Rs.1.25) (Communication Services) Equity, Since 30 Nov 21 \| 890157	2%	₹29 Cr	221,000

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 12.8% since its launch. Return for 2024 was 12.3% , 2023 was 25.8% and 2022 was 2% .

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 May 25)	₹28.2686 ↑ 0.10 (0.37 %)
Net Assets (Cr)	₹895 on 31 Mar 25
Category	Equity - ELSS
AMC	Mahindra Asset Management Company Pvt. Ltd.
Rating	Not Rated
Risk	Moderately High
Expense Ratio	2.26
Sharpe Ratio	0.02
Information Ratio	-0.54
Alpha Ratio	-0.4
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Apr 20	₹10,000
30 Apr 21	₹15,133
30 Apr 22	₹18,470
30 Apr 23	₹19,515
30 Apr 24	₹26,238
30 Apr 25	₹27,559

Mahindra Mutual Fund Kar Bachat Yojana SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹556,833.
Net Profit of ₹256,833 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 May 25

Duration	Returns
1 Month	6.6%
3 Month	11.4%
6 Month	5.5%
1 Year	9.6%
3 Year	19.1%
5 Year	25%
10 Year
15 Year
Since launch	12.8%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	12.3%
2023	25.8%
2022	2%
2021	39.4%
2020	14.1%
2019	4.5%
2018	-9.8%
2017	24.8%
2016
2015

Fund Manager information for Mahindra Mutual Fund Kar Bachat Yojana

Name	Since	Tenure
Manish Lodha	21 Dec 20	4.36 Yr.
Fatema Pacha	16 Oct 20	4.54 Yr.

Data below for Mahindra Mutual Fund Kar Bachat Yojana as on 31 Mar 25

Equity Sector Allocation

Sector	Value
Financial Services	35.94%
Consumer Cyclical	15.5%
Industrials	8.89%
Technology	8.13%
Basic Materials	7.75%
Consumer Defensive	7.08%
Energy	5.59%
Communication Services	4.31%
Health Care	3.26%
Utility	2%

Asset Allocation

Asset Class	Value
Cash	1.54%
Equity	98.46%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Dec 16 \| HDFCBANK	9%	₹86 Cr	446,000 ↓ -29,000
ICICI Bank Ltd (Financial Services) Equity, Since 31 May 19 \| ICICIBANK	9%	₹82 Cr	575,120
Reliance Industries Ltd (Energy) Equity, Since 31 Mar 18 \| RELIANCE	6%	₹52 Cr	367,708 ↑ 35,400
Axis Bank Ltd (Financial Services) Equity, Since 30 Apr 24 \| 532215	4%	₹37 Cr	315,000
Larsen & Toubro Ltd (Industrials) Equity, Since 31 Aug 18 \| LT	4%	₹34 Cr	102,761
Infosys Ltd (Technology) Equity, Since 29 Feb 20 \| INFY	4%	₹33 Cr	222,498 ↑ 35,150
Tata Consultancy Services Ltd (Technology) Equity, Since 31 May 19 \| TCS	3%	₹32 Cr	93,476 ↑ 22,500
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Oct 24 \| BHARTIARTL	3%	₹29 Cr	157,000
Hindustan Unilever Ltd (Consumer Defensive) Equity, Since 30 Apr 20 \| HINDUNILVR	3%	₹27 Cr	116,000
State Bank of India (Financial Services) Equity, Since 29 Feb 24 \| SBIN	3%	₹24 Cr	308,000 ↓ -58,000

4. PGIM India Tax Savings Fund

"The primary objective of the Scheme is to generate long-term capital appreciation by predominantly investing in equity & equity related instruments and to enable eligible investors to avail deduction from total income, as permitted under the Income Tax Act, 1961 as amended from time to time. However, there is no assurance that the investment objective shall be realize"

PGIM India Tax Savings Fund is a Equity - ELSS fund was launched on 11 Dec 15. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 14.1% since its launch. Return for 2024 was 15.6% , 2023 was 19.5% and 2022 was 4.7% .

Below is the key information for PGIM India Tax Savings Fund

PGIM India Tax Savings Fund Growth
Launch Date	11 Dec 15
NAV (16 May 25)	₹34.69 ↑ 0.08 (0.23 %)
Net Assets (Cr)	₹741 on 31 Mar 25
Category	Equity - ELSS
AMC	Pramerica Asset Managers Private Limited
Rating	Not Rated
Risk	Moderately High
Expense Ratio	2.32
Sharpe Ratio	0.19
Information Ratio	-0.7
Alpha Ratio	2.29
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Apr 20	₹10,000
30 Apr 21	₹15,500
30 Apr 22	₹19,295
30 Apr 23	₹20,385
30 Apr 24	₹25,270
30 Apr 25	₹27,648

PGIM India Tax Savings Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹556,833.
Net Profit of ₹256,833 Invest Now

Returns for PGIM India 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 May 25

Duration	Returns
1 Month	6.2%
3 Month	9.2%
6 Month	5.6%
1 Year	13.6%
3 Year	16.9%
5 Year	24.7%
10 Year
15 Year
Since launch	14.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	15.6%
2023	19.5%
2022	4.7%
2021	37.5%
2020	17.9%
2019	8.2%
2018	-6.4%
2017	39.3%
2016	1.7%
2015

Fund Manager information for PGIM India Tax Savings Fund

Name	Since	Tenure
Bhupesh Kalyani	1 Apr 23	2.08 Yr.
Vinay Paharia	1 Apr 23	2.08 Yr.
Utsav Mehta	15 Apr 24	1.04 Yr.
Vivek Sharma	15 Apr 24	1.04 Yr.

Data below for PGIM India Tax Savings Fund as on 31 Mar 25

Equity Sector Allocation

Sector	Value
Financial Services	29.76%
Industrials	11.49%
Consumer Cyclical	10.88%
Health Care	10.71%
Technology	10.07%
Basic Materials	6.76%
Energy	6.5%
Consumer Defensive	6.07%
Communication Services	4.13%
Real Estate	0.46%

Asset Allocation

Asset Class	Value
Cash	3.03%
Equity	96.84%
Debt	0.13%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Dec 15 \| HDFCBANK	9%	₹68 Cr	355,514
ICICI Bank Ltd (Financial Services) Equity, Since 31 Jan 16 \| ICICIBANK	9%	₹67 Cr	469,764
Reliance Industries Ltd (Energy) Equity, Since 31 Aug 17 \| RELIANCE	7%	₹50 Cr	353,591
Bharti Airtel Ltd (Communication Services) Equity, Since 28 Feb 19 \| BHARTIARTL	4%	₹28 Cr	148,605
Dixon Technologies (India) Ltd (Technology) Equity, Since 30 Apr 23 \| DIXON	3%	₹20 Cr	12,000
ICICI Lombard General Insurance Co Ltd (Financial Services) Equity, Since 31 Jul 23 \| ICICIGI	2%	₹19 Cr	98,882
Kotak Mahindra Bank Ltd (Financial Services) Equity, Since 30 Jun 23 \| KOTAKBANK	2%	₹19 Cr	84,000
Tata Consultancy Services Ltd (Technology) Equity, Since 30 Apr 24 \| TCS	2%	₹18 Cr	53,406
Infosys Ltd (Technology) Equity, Since 30 Jun 24 \| INFY	2%	₹18 Cr	122,500
UltraTech Cement Ltd (Basic Materials) Equity, Since 31 Dec 21 \| 532538	2%	₹17 Cr	14,185

5. Sundaram Diversified Equity Fund

To achieve capital appreciation by investing predominantly in equities and equity-related instruments. A three-year lock-in period shall apply in line with the regulation for ELSS schemes.

Sundaram Diversified Equity Fund is a Equity - ELSS fund was launched on 22 Nov 99. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 15.9% since its launch. Ranked 14 in ELSS category. Return for 2024 was 12% , 2023 was 23.3% and 2022 was 4% .

Below is the key information for Sundaram Diversified Equity Fund

Sundaram Diversified Equity Fund Growth
Launch Date	22 Nov 99
NAV (16 May 25)	₹216.103 ↑ 0.21 (0.10 %)
Net Assets (Cr)	₹1,428 on 31 Mar 25
Category	Equity - ELSS
AMC	Sundaram Asset Management Company Ltd
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	2.16
Sharpe Ratio	-0.05
Information Ratio	-0.67
Alpha Ratio	-1.4
Min Investment	500
Min SIP Investment	250
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Apr 20	₹10,000
30 Apr 21	₹15,105
30 Apr 22	₹18,099
30 Apr 23	₹19,254
30 Apr 24	₹24,818
30 Apr 25	₹26,412

Sundaram Diversified Equity Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹543,623.
Net Profit of ₹243,623 Invest Now

Returns for Sundaram Diversified Equity 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 May 25

Duration	Returns
1 Month	5.2%
3 Month	7.9%
6 Month	4.2%
1 Year	9.2%
3 Year	17.1%
5 Year	23.5%
10 Year
15 Year
Since launch	15.9%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	12%
2023	23.3%
2022	4%
2021	31.5%
2020	9.9%
2019	6.2%
2018	-10.6%
2017	38.4%
2016	6.8%
2015	3.1%

Fund Manager information for Sundaram Diversified Equity Fund

Name	Since	Tenure
Sudhir Kedia	1 Jan 22	3.33 Yr.
Rohit Seksaria	24 Feb 21	4.18 Yr.

Data below for Sundaram Diversified Equity Fund as on 31 Mar 25

Equity Sector Allocation

Sector	Value
Financial Services	34.2%
Industrials	11.39%
Consumer Cyclical	10.87%
Health Care	6.94%
Technology	6.81%
Consumer Defensive	6.07%
Basic Materials	6.05%
Energy	5.78%
Communication Services	5.51%
Utility	2%

Asset Allocation

Asset Class	Value
Cash	3.86%
Equity	96.14%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Mar 13 \| HDFCBANK	9%	₹132 Cr	724,000
ICICI Bank Ltd (Financial Services) Equity, Since 30 Nov 11 \| ICICIBANK	8%	₹119 Cr	883,000
Reliance Industries Ltd (Energy) Equity, Since 30 Apr 12 \| RELIANCE	5%	₹64 Cr	504,000
Larsen & Toubro Ltd (Industrials) Equity, Since 31 May 18 \| LT	4%	₹55 Cr	156,446
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Oct 19 \| BHARTIARTL	3%	₹49 Cr	280,000
Infosys Ltd (Technology) Equity, Since 30 Nov 16 \| INFY	3%	₹48 Cr	306,000 ↓ -58,000
Axis Bank Ltd (Financial Services) Equity, Since 31 May 18 \| 532215	3%	₹46 Cr	419,000
State Bank of India (Financial Services) Equity, Since 31 Aug 20 \| SBIN	3%	₹46 Cr	595,000
InterGlobe Aviation Ltd (Industrials) Equity, Since 31 Oct 22 \| INDIGO	3%	₹38 Cr	74,000 ↓ -9,000
UltraTech Cement Ltd (Basic Materials) Equity, Since 30 Apr 19 \| 532538	3%	₹37 Cr	32,000

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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.