Hello Sreekanth,
Hope you are doing good !
I have chosen below 2 funds 30 K each for investment under Tax saving plan ELSS (3 years).
1) ICICI Prudential long term equity fund (G) . NAV - 323
2) HDFC balanced fund - Direct Plan (G).NAV - 135.
Pls. Share opinion on this I am investing this first time so how it would work ? e.g., 30K × 3 years = 90 K (Total investment) .
Also please let me know difference in intrest gaining in lump sump and SIP process .
Kind regards,
Manish
3 Answers
Hi Manish,
Kindly note that HDFC Balanced fund is not an ELSS Tax saving scheme.
Both are good funds.
Kindly read:
https://www.relakhs.com/sip-systematic-investment-plan/
https://www.relakhs.com/best-mutual-fund-schemes-2017/
https://www.relakhs.com/best-elss-funds-2017-2018/
Thank you, Sree !
Can I prefer HDFC Tax Saver plan ? Seems I have HDFC account it would be easy to track inside my netbanking.
- Manish
Hi,
Just for tracking (convenience) sake, do not invest in a scheme.
There are many free online portfolio tracking portals, where in you can track the funds' performance (ex-moneycontrol.com).
As of now, there are better funds in ELSS category than HDFC tax saver. Kindly refer to above links.
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