I am planning to invest Rs 20,000 through monthly SIPs in a single fund for three years; can you please recommend a fund?
Kalyan Ramanathan, Hyderabad
For a three year investment period you can consider investing in an equity-linked savings scheme (ELSS). These are funds in which investments have a three year lock-in, and the investments qualify for tax deduction under Section 80C of the Income Tax Act. You could consider investing in funds like Franklin India Taxshield or Axis Long-Term equity, which are both ELSS and find a place in OLM Elite.
