Re: Suggestions on ELSS...plsssssss
ELSS is nothing but a normal open ended equity mutual fund with 3 year lock in and tax benefits. As far as ULIPS go, stay away from them. SIP is a method to invest in mutual funds in a systematic way.
One thing you should note is that you will not get high returns with secure investment. MF's & ELSS will give good returns but with an amount of risk. If you are willing to take risk, only then invest in equity MF's. For long term like 15-20 years, investment in equity MF's will definitely be better than any FD's & secure investments. For starters if you want tax benefits, you can invest upto 1 lakh under section 80C in ELSS this year (before March 31, 2011). You can consider following ELSS funds and start a SIP.
Canara Robeco Equity Taxsaver
HDFC Taxsaver
Sundaram Taxsaver
Fidelity Tax Advantage
Franklin India Taxsaver
DSPBR Taxsaver
Birla Taxsaver
ELSS is nothing but a normal open ended equity mutual fund with 3 year lock in and tax benefits. As far as ULIPS go, stay away from them. SIP is a method to invest in mutual funds in a systematic way.
One thing you should note is that you will not get high returns with secure investment. MF's & ELSS will give good returns but with an amount of risk. If you are willing to take risk, only then invest in equity MF's. For long term like 15-20 years, investment in equity MF's will definitely be better than any FD's & secure investments. For starters if you want tax benefits, you can invest upto 1 lakh under section 80C in ELSS this year (before March 31, 2011). You can consider following ELSS funds and start a SIP.
Canara Robeco Equity Taxsaver
HDFC Taxsaver
Sundaram Taxsaver
Fidelity Tax Advantage
Franklin India Taxsaver
DSPBR Taxsaver
Birla Taxsaver