Best ELSS (Tax Saving) Mutual Funds
ELSS funds are equity funds that qualify for a Section 80C deduction (up to ₹1.5 lakh a year) under the old tax regime. They carry a 3-year lock-in — the shortest of any 80C option.
Top ELSS (tax saving) mutual funds by 3Y returns
20Direct plan, Growth option — ranked by 3-year CAGR. Open a fund for NAV history, rolling returns, risk metrics and peer rank.
As of 04 Oct 2026, Motilal Oswal ELSS Tax Saver Fund (Direct plan, Growth option) leads ELSS (tax saving) mutual funds on 3-year CAGR at +19.92%, followed by SBI Long Term Advantage Fund - Series V at +19.29% and ITI ELSS Tax Saver Fund at +15.42%. Across 50 ELSS (tax saving) mutual funds the category averaged +10.60% over three years, at an average expense ratio of 1.14%. All figures are computed from public AMFI NAV history and recomputed daily; past returns do not predict future ones.
| 1 | Motilal Oswal ELSS Tax Saver Fund Motilal Oswal | ★★★☆☆ | +7.1% | +19.9% | +16.6% | 0.96% | ₹4,627Cr |
| 2 | SBI Long Term Advantage Fund - Series V SBI | ★★★★★ | -0.6% | +19.3% | +14.5% | 1.28% | ₹345.73Cr |
| 3 | ITI ELSS Tax Saver Fund ITI | ★★★★☆ | +2.0% | +15.4% | +12.2% | 0.93% | ₹427.06Cr |
| 4 | JM ELSS - Tax Saver Fund JM Financial | ★★★☆☆ | +5.3% | +15.2% | +13.3% | 1.34% | ₹220.95Cr |
| 5 | WhiteOak Capital ELSS Tax Saver Fund WhiteOak Capital | ★★★★★ | +1.4% | +15.0% | — | 0.86% | ₹453.00Cr |
| 6 | HSBC ELSS Tax saver Fund HSBC | ★★★★☆ | +1.9% | +14.7% | — | 1.21% | ₹3,957Cr |
| 7 | Bank of India Mid Cap Tax Fund Series 1Small fund Bank of India | ★★★☆☆ | +8.7% | +13.8% | +11.3% | 1.06% | ₹62.74Cr |
| 8 | Quant ELSS Tax Saver Fund quant | ★★★★☆ | +8.6% | +13.8% | +14.5% | 1.22% | ₹12,619Cr |
| 9 | Baroda BNP Paribas ELSS Tax Saver Fund Baroda BNP Paribas | ★★★★☆ | +1.3% | +13.7% | — | 1.27% | ₹880.13Cr |
| 10 | Bank of India Mid Cap Tax Fund Series 2 Bank of India | ★★★☆☆ | +4.5% | +12.8% | +10.4% | 1.11% | — |
| 11 | Sundaram Long Term Tax Advantage Fund Series IVSmall fund Sundaram | ★★★★★ | +6.9% | +12.0% | +16.1% | 1.03% | ₹16.77Cr |
| 12 | Edelweiss ELSS Tax Saver Fund Edelweiss | ★★★☆☆ | +1.0% | +12.0% | +11.0% | 0.93% | ₹434.61Cr |
| 13 | Sundaram Long Term Tax Advantage Fund Series IIISmall fund Sundaram | ★★★★☆ | +7.5% | +11.9% | +16.1% | 1.01% | ₹23.49Cr |
| 14 | SBI ELSS Tax Saver Fund SBI | ★★★★☆ | -5.6% | +11.9% | +13.7% | 1.25% | ₹28,328Cr |
| 15 | Sundaram Long Term Micro Cap Tax Advantage Fund Series VSmall fund Sundaram | ★★★★☆ | +6.0% | +11.6% | +13.9% | 1.01% | ₹19.64Cr |
| 16 | DSP ELSS Tax Saver Fund DSP | ★★★★☆ | -4.8% | +11.4% | +10.9% | 0.92% | ₹16,291Cr |
| 17 | ICICI Prudential Long Term Wealth Enhancement FundSmall fund ICICI Prudential | ★★★★★ | -6.5% | +11.4% | +12.4% | 0.81% | ₹6.76Cr |
| 18 | HDFC ELSS - Tax Saver Fund HDFC | ★★★★☆ | -8.5% | +11.3% | +13.0% | 1.21% | ₹15,540Cr |
| 19 | Invesco India ELSS Tax Saver Fund Invesco | ★★★☆☆ | -1.9% | +11.2% | +9.2% | 1.19% | ₹2,546Cr |
| 20 | Tata ELSS - Tax Saver Fund Tata | ★★★☆☆ | +2.0% | +11.2% | +11.3% | 0.88% | — |
NAV data as of 04 Oct 2026. Returns are CAGR for periods ≥1 year, computed from AMFI NAV history. Ratings are WealthTicker’s own, ranked within sub-category peers — not a SEBI or agency rating. See our methodology for every formula. This is data, not investment advice.
Popular comparisons
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Understand ELSS (tax saving) mutual funds
ELSS: save tax while building wealth — if you are on the right regime
Section 80C exists only under the old regime, which turns “is ELSS worth it?” into a question about your tax regime rather than about the fund.
ELSS vs PPF: same ₹1.5 lakh, two completely different products
Three years of lock-in against fifteen, equity risk against a notified rate, and a deduction that exists only on the old regime. Which one suits your money.
From the blog
Beyond 80C: tax deductions salaried people miss
02 Oct 2026
80C is full for most salaried people before they invest a rupee. The smaller deductions that still cut tax in FY 2026-27, and which survive the new regime.
Old vs new tax regime: which saves more in FY 2026-27?
02 Oct 2026
The deductions you need before the old regime beats the new one, at seven salary levels for FY 2026-27, and why most salaried people now stay new.
ELSS fund returns in October 2026, and the 3-year lock-in
01 Oct 2026
The median ELSS tax-saver fund returned 10.30% a year over the three years to 30 September 2026, exactly its lock-in period. Best, worst, and the lock-in odds.
Frequently asked questions
What are ELSS (tax saving) mutual funds?
ELSS funds are equity funds that qualify for a Section 80C deduction (up to ₹1.5 lakh a year) under the old tax regime. They carry a 3-year lock-in — the shortest of any 80C option.
Which is the best ELSS (tax saving) fund right now?
Motilal Oswal ELSS Tax Saver Fund by Motilal Oswal currently ranks first among ELSS (tax saving) mutual funds by 3-year CAGR at +19.92%. Rankings move with NAVs — past returns don't guarantee future performance.
What returns have ELSS (tax saving) mutual funds given?
The category has averaged -1.16% over 1 year, +10.60% annualized over 3 years, +11.01% annualized over 5 years — peer averages over the live funds in the category, computed from AMFI NAV history.
How are ELSS (tax saving) mutual funds taxed?
Equity taxation: gains within 1 year are short-term and taxed at 20%; beyond 1 year, long-term gains above ₹1.25 lakh a year are taxed at 12.5%.
What is the ELSS lock-in period?
3 years from each investment (each SIP instalment locks separately) — the shortest lock-in among Section 80C options. The 80C deduction of up to ₹1.5 lakh applies only under the old tax regime.