ELSS funds are great way to save tax upto Rs 46,350 (if you invest Rs 1.5 lakhs) and invest for the long run. When you invest in Direct Plans of these funds through a good direct mutual fund platform, you get an extra upto Rs 7,000 off by avoiding commissions.
ELSS funds have a 3 year lockin. Therefore if you want liquidity in the interim, then you can invest inBalanced Funds or Liquid funds depending on your risk appetite.
- Balanced Funds help give better growth while stabilising the volatility.
- Liquid funds allow you get better than bank FD returns.
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