These ELSS mutual funds have given returns of over 20% in last 5 years, see list – India TV Hindi

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mutual fund SIP is considered as one of the best investment methods. With this, you get the benefit of compounding over the long term, which can help grow your wealth. Today in this article we are going to tell about the ELSS mutual funds which have given an average annual return of more than 20% in the last 5 years. But before that let us know what ELSS mutual funds are.

What is ELSS Mutual Fund?

ELSS mutual funds are also known as tax saving mutual funds. There is a lock-in period of 3 years. By investing in it, a tax deduction of Rs 1.5 lakh is available under Section 80C of Income Tax. In ELSS mutual funds, money is invested in equity, debt and gold etc.

ELSS Mutual Funds which gave highest returns in last 5 years.

Quant ELSS Tax Saver Fund: This mutual fund has given an average annual return of 29.98% in the last 5 years. If you had invested Rs 1 lakh in this fund 5 years ago, the amount would have grown to around Rs 3.70 lakh by now.

Bank of India ELSS Tax Saver Fund: This fund has given an average annual return of 24.26% in the last 5 years. If you had invested one year in this fund 5 years ago, the amount would have increased to around Rs 2.90 lakh.

SBI Long Term Equity Fund: This fund has given an average return of 20.57% in the last 5 years. By investing Rs 1 lakh in this fund, your profit would have increased to Rs 2.55 lakh in 5 years.

Bandhan ELSS Tax Saver Fund: This mutual fund has given an average return of 19.39% to its investors in the last 5 years. If you had invested in it 5 years ago, your money would have grown to Rs 2.42 lakh.

(Note: These figures are taken from AMFI and are based on data up to 20 March 2024.)

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