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An ELSS is a kind of Mutual Fund and is similar to any diversified equity mutual fund in many ways. An ELSS gives a tax benefit and comes with a lock in period of 3 years. Investment avenues of an ELSS are a mix of various asset classes such as equity, debt, gold and real estate.
Some advantages of ELSS are
* The 3 year lock in period prevents withdrawals and thus allows your money to grow over a period of time. Long term investment in equities gives better returns than any other investment instrument.
* It gives tax benefits (Up to 30% for people in the highest tax slab)
* Gives the flexibility to invest small amounts through a Systematic Investment Plan (SIP)
As an ELSS investor, your interests will be safeguarded by two separate market bodies. The Association of Mutual Funds in India (AMFI) and the Securities and Exchange Board of India (SEBI)
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What are the different Types of Equity mutual funds?
Based on the investing style equity mutual funds are broadly classified into 4 categories:Equity Diversified fundsEquity Linked Saving Schemes (ELSS)Index funds & ETFsSectoral Funds
What are equity realease schemes?
Equity release schemes are also called lifetime mortgages or reverse mortgages. They allow someone to take money out of the equity paid into their house and the house goes to the bank when they die.
What are equity release schemes?
Equity release schemes are schemes that help senior citizens that have a low fixed income. It can also make sure that a senior citizen can stay in their home for the remainder of their life or until they enter a retirement home.
What home equity release schemes does the Bank of America offer?
Currently the Bank of America doesn't offer home equity release schemes, but rather home equity loans. When taking out a home equity loan, one must be conscious about making the payments on time or risk a foreclosure on the home.
What is equity oriented mutual fund?
What is an Equity Mutual Fund?A MF scheme that invests at least 65% of its fund corpus into equity and equity related instruments is called an equity mutual fund. Equity funds carry the most risk among all kinds of MFs because they invest in the stock market. This risk comes with the potential of high returns.Types of Equity mutual funds:Based on the investing style equity mutual funds are broadly classified into 4 categories:Equity Diversified fundsEquity Linked Saving Schemes (ELSS)Index funds & ETFsSectoral Funds
Best saving schemes in India?
ELSS Funds = Tax Saving + High ReturnsBest tax saving mutual funds to invest in 2018 are here just to mention a few areAditya Birla Sun Life Tax Relief 96Tata India Tax Savings FundKotak Tax SaverAxis Long Term Equity FundDSP BlackRock Tax Saver FundAll of these are ELSS (Equity-Linked Savings Schemes) and right off the bat, you can save Rs.1,50,000 from being taxed by investing in them.
How do fund of funds classify?
Mutual Funds are classified as * Equity Mutual Funds * Equity Diversified Funds * Equity Linked Savings Schemes * Large Cap funds * Mid cap funds * Small cap funds * Contra Funds * Sectoral Funds * Thematic Funds * etc... * Debt Mutual Funds * Bond Mutual Funds * Hedge Funds * Fund of Funds * etc...
What are the different Types of Equity mutual funds?
Based on the investing style equity mutual funds are broadly classified into 4 categories:Equity Diversified fundsEquity Linked Saving Schemes (ELSS)Index funds & ETFsSectoral Funds
What are equity realease schemes?
Equity release schemes are also called lifetime mortgages or reverse mortgages. They allow someone to take money out of the equity paid into their house and the house goes to the bank when they die.
Anyone help me find the best tax saving mutual fund schemes in India?
: Hi there! In order to save tax on the mutual fund schemes, you can invest in equity linked saving schemes under tax save law section 80C. However, equity linked saving schemes are diversified schemes wherein you can invest in equity related instruments, having a locking a period of about 3 years. For your reference, I have listed some of the good financial institution that offers best tax saving schemes. They are as follows: Top 5 tax Saving Mutual Fund based on lat 1 year returnsSBI Magnum Tax PlanReliance Mutual Fund - ELS - Fund Series 1Sundaram BNP Paribas Tax SaverFranklin India Tax ShieldPrudential ICICI Tax PlanI hope the above information might be useful for you.
What are equity release schemes?
Equity release schemes are schemes that help senior citizens that have a low fixed income. It can also make sure that a senior citizen can stay in their home for the remainder of their life or until they enter a retirement home.
What home equity release schemes does the Bank of America offer?
Currently the Bank of America doesn't offer home equity release schemes, but rather home equity loans. When taking out a home equity loan, one must be conscious about making the payments on time or risk a foreclosure on the home.
Are equity release schemes the same thing as a reverse mortgage?
Yes they are the same thing. They both pay you monthly sums in return for an interest in your equity, or property. Usually, equity release schemes are engineered for the elderly so that they have a steady income every month.
Can you get income tax saving from hdfc top 200 mutual fund?
Nope. HDFC Top 200 is a Equity Diversified Mutual Fund. Only ELSS Funds have income tax benefits. ELSS stands for Equity Linked Savings Scheme
What does equity release schemes mean?
Equity release schemes are used when someone is looking to earn some cash. They simply use their property to secure the cash, while still getting to use the property.
What is equity oriented mutual fund?
What is an Equity Mutual Fund?A MF scheme that invests at least 65% of its fund corpus into equity and equity related instruments is called an equity mutual fund. Equity funds carry the most risk among all kinds of MFs because they invest in the stock market. This risk comes with the potential of high returns.Types of Equity mutual funds:Based on the investing style equity mutual funds are broadly classified into 4 categories:Equity Diversified fundsEquity Linked Saving Schemes (ELSS)Index funds & ETFsSectoral Funds
What is owners savings?
An owner's savings account is also known as the owner's equity account. The owner's equity account keeps track of deposits and withdrawals to the account, and how much principal the owner has invested in the business.
