ELSS (Tax Saving Mutual Funds)

Equity Linked Saving Scheme (ELSS) or a tax saving mutual fund schemes helps investors to save taxes under Section 80C of the Income Tax Act 1961. The investments in ELSS are subject to a lock-in period of 3 years and qualify for a tax deduction of up to Rs 1.5 lakh. ELSS is one of the best options to save taxes and create wealth in the long term. What’s more, you can avoid the hassles of last-minute tax planning by investing in Equity Linked Saving Scheme (ELSS) via a monthly SIP & end up saving up to Rs. 46,800* in taxes per annum.

Key Benefits

  • Maximum potential tax saving of Rs. 46,800* per annum
  • Enjoy higher returns by investing in a portfolio of Equity Linked Instruments
  • Shortest lock-in period among all 80C investments – of just three years
  • Ease of investment - You can invest your money via a systematic investment plan (SIP) or as a lump sum
  • Lower tax on gains – only long-term capital gains above Rs 1 lakh are taxed at 10%

Top performing** funds as per Morningstar

Scheme Name

MorningstarTM Rating

Returns in 2 Years

Returns in 3 Years

Returns in 5 Years

ICICI Pru Long Term Eq (Tax Sav) Gr





Kotak Taxsaver Reg Gr





Franklin India Taxshield Gr





(ELSS schemes with fund performace, annualized return as per the Morningstar report as on 2nd May 2019. For the complete report, click here)

To know more about investing in ELSS Mutual Funds funds refer our blog articles here : www.dbs.com/digibank/in/learn/articles/mutual-fund-that-helps-you-save-tax

Save Taxes With Mutual Funds

How to Apply for ELSS

For DBS Bank users

  • Using the digibank mobile app
    • Launch the app on your smartphone
    • Log in and tap “Mutual Funds” in the navigation menu
    • Follow instructions to complete verification
    • Start investing!
  • Using the DBS Bank ibanking website
    • Log in and select “Mutual Funds” in the navigation menu
    • Follow instructions to complete verification
    • Start investing!

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New to DBS Bank?

  • Download the digibank mobile app on your smartphone
  • Launch the app and sign up for a full DBS Bank Savings Account
  • Log in and tap “Mutual Funds” in the navigation menu
  • Follow instructions to complete verification
  • Start investing!

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Frequently Asked Questions

How do I avail Tax benefits when investing in ELSS funds?

To avail tax benefits, you will receive your investment statements from the Mutual Fund company directly on your registered email ID

Do ELSS funds have a lock in period ?

ELSS Funds have a lock-in period of 3 years from the date of investment. In case of a SIP, each instalment would be locked in for 3 years

How do I choose the right ELSS fund to invest in ?

To choose the top performing ELSS fund, refer our report here.


*Actual tax benefit will vary from person to person. Tax benefit shown here is calculated at the highest tax slab rate of 31.2% including education cess of 4% on the maximum allowable deduction of Rs. 1,50,000 under Section 80C of the Income Tax Act,1961.

**The information herein is prepared and furnished by Morningstar. The fund report is for your reference and information only. Specifically, such content/report is not intended nor shall it be construed as financial, tax or other advice or as an offer, solicitation or recommendation of securities or other financial products. DBS shall have no liability for any direct, special, indirect, consequential, incidental damages or any other loss or damages of any kind arising from any use of this content/report here in (including any error, omission or misstatement therein, negligent or otherwise) or further communication thereof.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.