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Frequently Asked Questions
What are the benefits of investing in ELSS?
An opportunity to compound money
Tax-free long-term capital gains up to Rs. 1 lakh
Three-year lock-in period compared to longer lock-in period in other tax-saving instruments
Ability to invest through SIPs
Should I invest in SIPs or lumpsum?
While you can invest a lumpsum amount, it’s always advisable to invest in SIPs, as investing in a SIP gives you an advantage of rupee cost averaging, as well as reduces the stress of arranging a huge sum at one go to save tax.
Who can invest in an ELSS?
Anyone who wishes to reduce income tax payment by investing under Section 80C of the Income Tax Act. However, it's advisable to invest in ELSS only if you are open to risk.