Following four ELSS schemes make the cut based on their 5 years, 3 years and 1 year performance put together (see tables). These schemes have remained in the Top 10 ELSS schemes for all these durations :
- Canara Robeco Equity Tax Saver
- HDFC Taxsaver
- Sahara Tax Gain
- Birla Sun Life Tax Relief 96
Investment in ELSS schemes qualify for deductions under section 80C. So, you could max your returns by investing the entire Rs 1 lakh limit of your Section 80C deductions through ELSS investments alone. However, be cautious as ELSS schemes have a risk grade higher than other investments that qualify under section 80C such as life insurance, PPF, NSC, etc.
Another important factor to consider is the lock-in period. ELSS schemes have a 3 year lock-in, that means you can not sell the investment before this period.
Top 10 Tax Saving Mutual Funds (ELSS)
The following 3 tables lists the Top 10 ELSS Schemes in descending order of their 5 years, 3 years and 1 year returns. This may help you in selecting the best ELSS scheme for your needs.
ELSS Schemes Ranking based on 5 Year Returns
Rank
|
Fund Name
|
Return (%)
|
NAV for Plan
|
NAV as on Date
| |||
1 Year
|
3 Year
|
5 Year
|
Dividend
|
Growth
| |||
1
| Magnum Taxgain |
93.29
|
10.05
|
32.03
|
44.4
|
59.05
|
11-Jan-2010
|
2
| Canara Robeco Equity Tax Saver |
97.08
|
19.21
|
28.82
|
20.29
|
22.28
|
11-Jan-2010
|
3
| Sundaram BNP Paribas Taxsaver |
81.83
|
15.64
|
28.04
|
15.03
|
43.92
|
11-Jan-2010
|
4
| HDFC Taxsaver |
106.03
|
11.2
|
27.09
|
62.36
|
200.48
|
11-Jan-2010
|
5
| Sahara Tax Gain |
96.88
|
16.63
|
25.99
|
18.99
|
33.33
|
11-Jan-2010
|
6
| ICICI Prudential Tax Plan |
120.85
|
9.38
|
24.52
|
18.51
|
124.12
|
11-Jan-2010
|
7
| Franklin India Taxshield |
86.18
|
13.3
|
23.67
|
32.85
|
181.84
|
11-Jan-2010
|
8
| Birla Sun Life Tax Relief 96 |
111.64
|
10.74
|
22.39
|
88.66
|
10.99
|
11-Jan-2010
|
9
| Franklin India Index Tax |
79.82
|
9.33
|
21.39
|
40.2
|
n/a
|
11-Jan-2010
|
10
| Principal Personal Tax Saver |
93.44
|
9.76
|
21.22
|
91.44
|
n/a
|
11-Jan-2010
|
ELSS Schemes Ranking based on 3 Year Returns
Rank
|
Fund Name
|
Return (%)
|
NAV for Plan
|
NAV as on Date
| |||
1 Year
|
3 Year
|
5 Year
|
Dividend
|
Growth
| |||
1
| Taurus Tax Shield |
106.56
|
22.69
|
18.84
|
23.93
|
32.76
|
11-Jan-2010
|
2
| Canara Robeco Equity Tax Saver |
97.08
|
19.21
|
28.82
|
20.29
|
22.28
|
11-Jan-2010
|
3
| Sahara Tax Gain |
96.88
|
16.63
|
25.99
|
18.99
|
33.33
|
11-Jan-2010
|
4
| Sundaram BNP Paribas Taxsaver |
81.83
|
15.64
|
28.04
|
15.03
|
43.92
|
11-Jan-2010
|
5
| Religare Tax Plan |
91.49
|
15.54
|
n/a
|
12.86
|
15.53
|
11-Jan-2010
|
6
| Fidelity Tax Advantage |
91.58
|
14.11
|
n/a
|
16.61
|
18.5
|
11-Jan-2010
|
7
| Franklin India Taxshield |
86.18
|
13.3
|
23.67
|
32.85
|
181.84
|
11-Jan-2010
|
8
| HDFC Taxsaver |
106.03
|
11.2
|
27.09
|
62.36
|
200.48
|
11-Jan-2010
|
9
| Birla Sun Life Tax Relief 96 |
111.64
|
10.74
|
22.39
|
88.66
|
10.99
|
11-Jan-2010
|
10
| Magnum Taxgain |
93.29
|
10.05
|
32.03
|
44.4
|
59.05
|
11-Jan-2010
|
ELSS Schemes Ranking based on 1 Year Returns
Rank
|
Fund Name
|
Return (%)
|
NAV for Plan
|
NAV as on Date
| |||
1 Year
|
3 Year
|
5 Year
|
Dividend
|
Growth
| |||
1
| ICICI Prudential Tax Plan |
120.85
|
9.38
|
24.52
|
18.51
|
124.12
|
11-Jan-2010
|
2
| Birla Sun Life Tax Relief 96 |
111.64
|
10.74
|
22.39
|
88.66
|
10.99
|
11-Jan-2010
|
3
| ING Tax Savings |
107.18
|
-0.97
|
17.56
|
13.09
|
26.54
|
11-Jan-2010
|
4
| DBS Chola Tax Saver |
106.86
|
3.63
|
n/a
|
14.28
|
15.37
|
11-Jan-2010
|
5
| Taurus Tax Shield |
106.56
|
22.69
|
18.84
|
23.93
|
32.76
|
11-Jan-2010
|
6
| HDFC Taxsaver |
106.03
|
11.2
|
27.09
|
62.36
|
200.48
|
11-Jan-2010
|
7
| Canara Robeco Equity Tax Saver |
97.08
|
19.21
|
28.82
|
20.29
|
22.28
|
11-Jan-2010
|
8
| Sahara Tax Gain |
96.88
|
16.63
|
25.99
|
18.99
|
33.33
|
11-Jan-2010
|
9
| DSPBR Tax Saver |
95.48
|
n/a
|
n/a
|
11.46
|
15.4
|
11-Jan-2010
|
10
| HDFC LT Advantage |
93.77
|
8.01
|
20.66
|
38.26
|
117.3
|
11-Jan-2010
|
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