This is how investors who did monthly SIP in tax saving schemes!
Equity Linked Saving Scheme (ELSS) mutual funds are such funds which not only make money for their investors but also save tax. And you will be surprised to know that there are many such mutual fund schemes with equity linked savings scheme, after the launch of which, the investors who have invested Rs 10,000 every month in these funds through Systematic Investment Plan (SIP) have been made crorepatis by these funds. According to a report of Economic Times, there are seven such equity linked mutual fund schemes which have completed their 25 years. And since the launch of these schemes, if any investor has started a SIP of Rs 10,000, then the corpus of the investors has crossed Rs 1 crore in 25 years.
sbi Long Term Equity Fund
For example, sbi Long Term Equity Fund is the oldest ELSS fund. And in the last 25 years, the investment of investors who made a SIP of Rs 10,000 in this fund has increased to Rs 5.66 crore. This fund has given an annual return of 19.42 percent to the investors.
hdfc ELSS Tax Saver Scheme
hdfc Mutual Fund's hdfc ELSS Tax Saver Scheme has also given strong returns to its unit holders. If an investor started a SIP of Rs 10,000 in this fund 25 years ago, then his corpus has increased to Rs 5.08 crore. This fund has given an annual return of 18.77 percent.
ICICI Pru ELSS Tax Saver Fund
Even in ICICI Prudential Mutual Fund's ICICI Pru ELSS Tax Saver Fund, if an investor started a SIP of Rs 10,000 25 years ago, his investment has grown to Rs 4.92 crore. This fund has given investors a return of 18.57 percent.