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Friday, January 8, 2016

Saving Schemes in India

 

Saving anything (money mostly) can be considered part of the Indian tradition that attributes to responsible and cultured living. The point wherein an individual earns his/her first salary and opens up a small savings account, the person is considered to be all 'grown-up' and many shades better than his/her careless, spendthrift and antisocial self from the teenage and late adolscent years. Why must you subscribe to saving schemes in India? Read on…

  1. Readily Available- The Indian government, through both the public and private sector banking system, offers a multitude of saving schemes that are easy to enroll with and are perfectly suited for the strategic as well as casual investor. Their simplicity and abundance makes them a much preferred savings option.
  2. Long Term Planning- Quite opposite to the run and burn concept, long term savings are focussed on a time in the future when abundant monies will be required to comply with an expected requirement. Retirement, marriage of a son/daughter, long awaited foreign trip, etc. demand strategic, long term financial planning.
  3. Wide Ranges of Products- In India, saving schemes include a plethora of different products that are intended for a wide segment of potential customers. From the Public Provident Fund (employed- retirement fund) and Employee Provident Fund to Kissan Vikas Patra (Agriculturists) and Sukanya Samriddhi Yojana (exclusively for the girl child), the choices are many and super specialised.
  4. Simple to Enroll- Limited documentation, clearly defined procedures and the Indian Government's backing ensures that these saving schemes are simple to opt for and safe to be locked onto.
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Invest Rs 150000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

There are a lot of mutual funds that customers can choose from but some of the best Tax Saver mutual funds in India right now are:

Top 10 Tax Saver Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan
It must be remembered that this list is not set in stone as improvement or reduction in performance of the mutual fund could change the position of these funds among the top 10 tax saving mutual funds in India.

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

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