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What are ELSS Mutual Funds?

Equity Linked Saving Scheme or ELSS is a type of mutual fund scheme that invests in equity markets and qualifies for tax savings under section 80C of the Income Tax Act. Investments of up to Rs 1.5 lakhs done in ELSS Mutual Funds in a financial year are eligible for tax deduction u/s 80C. It translates into a tax saving of upto Rs 46,800 in a financial year. These funds also have the lock-in of just 3 years from the date of allotment of units, lowest amongst all the options available in Section 80C.

Dual advantages of Tax-saving & potential for higher returns than traditional Tax-saving investments make ELSS a must have for every investor.

Invest in top ranking ELSS funds to plan your wealth building journey and save taxes. Compare and choose from a wide range of ELSS funds curated by ICICIdirect to benefit from high returns and save tax up to Rs 46, 800 as per Section 80C.

Why are ELSS Mutual Funds the Best Tax-Saving Option?

lock-in of 3 years

Shortest lock-in of 3 years

Potential for higher returns

Potential for higher returns than traditional tax saving products

Better post-tax returns

Better post-tax returns: Qualified for Long Term Capital Gains - Tax free up to gains of ₹1 lakh, Just 10% beyond ₹1 lakh

One Time Or SIP

Option to invest one time or set up monthly SIP for regular & hassle-free investing with amount as low as Rs 500

Why invest in ELSS through ICICIdirect.com?

ICICIdirect website or  Money app

Invest in best ELSS Funds with ease in just 2 minutes through website or ICICIdirect Money app

List of recommended ELSS Funds

Scheme selection made easy through list of recommended ELSS Funds hand-picked by our award-winning research

iDirect Investment

Option to invest in ready-made iDirect investment basket of ELSS Funds

Proof of Investment

Get proof of investment online

Easy Redemption

Redemption made easy with display of units that have completed lock-in

How to get started?

  • Login Icon Login to your ICICIdirect.com account
  • Go to Mutual Funds Go to Mutual Funds
  • Select an ELSS Fund Select an ELSS Fund from recommendations/Select Save Taxes basket under iDirect Investment Baskets
  • investment details Provide investment details and confirm
  • proof of investment Get proof of investment online and on registered mail

Comparing ELSS with other Tax-Saving Instruments(u/s 80C)

Higher return potential coupled with lowest lock-in period, makes ELSS Funds a stand-out investment option u/s 80C.Let’s compare the ELSS schemes with other 80C investments.

Investment Returns Lock-in period Tax on Returns
ELSS 12-14% 3 years Nil till Rs 1 lakh, 10% beyond 1 lakh
Public Provident Fund(PPF) 7-8% 15 years Tax-exempt
5- Year Bank Fixed Deposit 4-6% 5 years Yes
National Savings Certificate(NSC) 7-8% 5 years Yes
National Pension System(NPS) 8-10% Till retirement Partially Taxable








Podcast by Ms. Cheenu Gupta, Fund Manager, Canara Robeco Asset Management Company

ELSS: Wealth creation with tax savings by Mr. Rohit Singhania, Co-Head Equities, DSP India

ELSS: Wealth creation with tax savings by Mr. Gaurab Parija, Head – Sales & Marketing, IDFC Asset Management Company

Explore dual advantage of Tax Saving upto Rs. 46,800 and Wealth Creation.


ICICI Securities Ltd.( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel: (91 22) 6807 7100, Fax: (91 22) 6807 7803. I-Sec is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990. AMFI Regn. No.: ARN-0845. We are distributors for Mutual funds. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. Please note, Mutual Fund related services are not Exchange traded products and I-Sec is just acting as distributor to solicit these products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon.