Tax Saving Mutual Fund: Equity Linked Saving Scheme or ELSS Mutual Fund is considered to be a best investment. Where there is tax savings along with great returns. According to the Income Tax Act, under 80C, an investor can claim tax savings of up to Rs 1.5 lakh in a financial year. In such a situation, mutual funds can be a better option for investors who want great returns along with saving tax. Union Long Term Equity Fund is a better example of this. Let us know how much return has been received in this fund since January 2, 2013 till now –
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What does the SIP calculator say?
During the last one year, SIP investors have got 10 per cent annual return and 5.36 per cent absolute return through Union Long Term Equity Fund. At the same time, in 2 years, the annual return through this fund is 31% and the absolute return is 34%. If we talk about 3 years Union Long Term Equity Fund has got annual return of 25.50% and absolute return 45%.
According to the Value Research website, if an investor invests 10 thousand rupees every month in this scheme, then after a year it becomes 1.26 lakh rupees. The same investment made 3 years ago has now increased to Rs 5.20 lakh. At the same time, any investor who would have reposed faith in this fund 7 years ago, today his return would have increased to Rs 14.55.