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Old 8th September 2016, 03:58 PM
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Default Tax Saving Through ELSS



I wanted to open a tax saving elss scheme under 80c. I have approached icici. they have suggested me the following schemes.1. ICICI discovery fund, 2. Blue chip fund, 3. Prudential long term equity 4. Wealth builder II.

Which of the above will be more beneficial to me. Also they have suggested that instead of paying through SIP, open a recurring deposit, on maturity pay the elss as lumpsum. Please advice.
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Old 8th September 2016, 07:18 PM
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Originally Posted by smita View Post
I wanted to open a tax saving elss scheme under 80c. I have approached icici. they have suggested me the following schemes.1. ICICI discovery fund, 2. Blue chip fund, 3. Prudential long term equity 4. Wealth builder II.

Which of the above will be more beneficial to me. Also they have suggested that instead of paying through SIP, open a recurring deposit, on maturity pay the elss as lumpsum. Please advice.
Firstly it depends whether you are looking for long term or purely for tax saving purpose....if it is for long term i would suggest you go for "direct plan" after selection of the mutual fund..direct plans help you save on broker ec fees which in the long run (8 years +) will be more benefitial

Secondly ...opening RD account has nothing to do with ELSS ..or tax saving he just wants to get commission or fulfill target of opening RD account....
You decide whether you want to invest lump-sum or SIP directly into the MF

Also don't invest in 4 MFs but only one or two max for tax saving.

Which fund to invest in depends on each individual..i would not go for any of the suggested ones..there are much better ELSS funds.

(Note If you contact ICICI or HDFC then their representative will always suggest only MF from their group....one should do the reverse..select the MF on your own and then contact the MF company to buy..if not doing online/directly)
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Old 9th September 2016, 04:14 PM
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Thank you. My main intention is for tax saving and I want to invest for minimum of 3 years. Money control shows discovery fund is doing well. Shall I choose this fund? Please suggest.
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Old 12th July 2018, 04:57 PM
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I wanted to open a tax saving elss scheme under 80c.
I have approached icici. they have suggested me the following schemes
.1. ICICI discovery fund,
2. Blue chip fund,
3. Prudential long term equity
4. Wealth builder II.

Which of the above will be more beneficial to me. Also they have suggested that instead of paying through SIP, open a recurring deposit, on maturity pay the elss as lumpsum. Please advice.
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