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 20 Aug 2026, Motilal Oswal ELSS Tax Saver Fund (Direct plan, Growth option) leads ELSS (tax saving) mutual funds on 3-year CAGR at +23.76%, followed by SBI Long Term Advantage Fund - Series V at +21.86% and ITI ELSS Tax Saver Fund at +19.54%. Across 51 ELSS (tax saving) mutual funds the category averaged +14.22% over three years, at an average expense ratio of 1.09%. 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 | ★★★☆☆ | +13.3% | +23.8% | +18.6% | 0.98% | ₹4,627Cr |
| 2 | SBI Long Term Advantage Fund - Series V SBI | ★★★★★ | +3.5% | +21.9% | +17.3% | 1.17% | ₹345.73Cr |
| 3 | ITI ELSS Tax Saver Fund ITI | ★★★★☆ | +8.4% | +19.5% | +15.2% | 0.90% | ₹427.06Cr |
| 4 | WhiteOak Capital ELSS Tax Saver Fund WhiteOak Capital | ★★★★★ | +6.4% | +18.8% | — | 0.87% | ₹453.00Cr |
| 5 | HSBC ELSS Tax saver Fund HSBC | ★★★★☆ | +8.3% | +18.5% | — | 1.20% | ₹3,957Cr |
| 6 | JM ELSS Tax Saver Fund JM Financial | ★★★☆☆ | +10.2% | +18.3% | +16.3% | 1.34% | ₹220.95Cr |
| 7 | Baroda BNP Paribas ELSS Tax Saver Fund Baroda BNP Paribas | ★★★★☆ | +8.2% | +17.8% | — | 1.31% | ₹880.13Cr |
| 8 | Quant ELSS Tax Saver Fund quant | ★★★★☆ | +14.6% | +17.0% | +17.5% | 1.21% | ₹12,619Cr |
| 9 | Bank of India Mid Cap Tax Fund Series 1 Bank of India | ★★★★☆ | +10.7% | +16.6% | +13.1% | 1.04% | ₹62.74Cr |
| 10 | Sundaram Long Term Tax Advantage Fund Series IV Sundaram | ★★★★★ | +13.5% | +16.6% | +19.6% | 1.01% | ₹16.77Cr |
| 11 | SBI ELSS Tax Saver Fund SBI | ★★★★☆ | -0.0% | +16.4% | +16.8% | 1.26% | ₹28,328Cr |
| 12 | Sundaram Long Term Tax Advantage Fund Series III Sundaram | ★★★★☆ | +13.5% | +16.3% | +19.4% | 0.98% | ₹23.49Cr |
| 13 | ICICI Prudential Long Term Wealth Enhancement Fund - Direct Plan Cumulative ICICI Prudential | ★★★★★ | +3.1% | +16.2% | +16.4% | — | ₹30.71Cr |
| 14 | Edelweiss ELSS Tax Saver Fund Edelweiss | ★★★☆☆ | +8.9% | +16.0% | +14.1% | 0.92% | ₹434.61Cr |
| 15 | BANK OF INDIA MID CAP TAX FUND Series 2 Bank of India | ★★★☆☆ | +7.3% | +15.9% | +12.1% | 1.08% | — |
| 16 | Sundaram Long Term Micro Cap Tax Advantage Fund Series V Sundaram | ★★★☆☆ | +11.2% | +15.7% | +17.6% | 0.98% | ₹19.64Cr |
| 17 | DSP ELSS Tax Saver Fund DSP | ★★★★★ | +1.9% | +15.5% | +13.7% | 0.93% | ₹16,291Cr |
| 18 | HDFC ELSS Tax saver HDFC | ★★★★☆ | -1.8% | +15.4% | +16.3% | 1.19% | ₹15,540Cr |
| 19 | Bank of India ELSS Tax Saver Bank of India | ★★★☆☆ | +7.3% | +15.4% | +13.2% | 1.06% | ₹1,383Cr |
| 20 | Sundaram Long Term Micro Cap Tax Advantage Fund Series VI Sundaram | ★★★★☆ | +9.6% | +15.2% | +17.7% | 0.95% | ₹22.50Cr |
NAV data as of 20 Aug 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.
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Understand ELSS (tax saving) mutual funds
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 +23.76%. Rankings move with NAVs — past returns don't guarantee future performance.
What returns have ELSS (tax saving) mutual funds given?
The category has averaged +3.99% over 1 year, +14.22% annualized over 3 years, +13.94% 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.