Best Tax Saving Mutual Fund

5 Best Tax Saving Mutual Fund in 2019

An investment that secures your future. Finding the best tax saving mutual fund is way more straightforward now.

Mutual funds are a smart form of investment in which the money from a large number of people is pooled in, and a mutual fund manager uses it in different sectors to generate revenues. Whatever profit is made in the process is divided proportionately among the investors after keeping aside a certain amount as deductible charges by the manager.

Investing in mutual funds is less risky than most other forms of investment, mainly because your money gets redirected to several avenues. Most of the mutual funds come with a locking period of 3 years, and the return is calculated based on the numbers after that. It is also a potent tax saver.

The 5 best tax saving mutual fund for investment include-

●    Reliance tax saver– one of the most popular mutual fund in India, it has a minimum locking period of 3 years and an average return every year at 11.09% when calculated for 5 years. You can save up to 46,800 rupees in tax every year using the scheme given by them. The brand value of reliance is an assurance as well.

●    DSP Blackrock Tax Saver Fund– the next in the list is the DSP Tax Saver Fund that has a yearly return of 46,800 as well with the average return every year standing at 14.66%. The lowest lock-in stands at three years for it as well. It has had a record of consistent growth for quite a few years.

●    Axis Long term Equity Fund– this mutual fund has one of the highest returns among all the 80c investments. The performance for it stands at an impressive 16.38% per year when calculated for five years. Like all other mutual funds, the lock-in period is a minimum of 3 years.

●    Aditya Birla Sun Life Tax Relief 96– another reputable mutual fund mainly based on its brand name, the Aditya BSL fund gives a yearly return of 16.09% when calculated for 5 years. Save up to 46,800 rupees every year as tax exemption.

●    SBI Magnum Tax Gain Scheme– there is good recorded growth for this mutual fund with a return of up to 10.43% per year over five years. When locked-in for three years, the saving is estimated to be around 46,800 rupees per year.

The list, as mentioned above, includes those 5 best tax saving mutual fund in India that you can invest in and reap good profits. Source

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