I am a Govt employee having annual income of Rs. 250000/- desires to invest Tax Saving Mutual Fund thrugh SIP with horizon of 10 years Pl guide which fund should be selected and how much amount should be invested.
From - Prasad Shindikar
1) relince 2)icici pru 3) hdfc 4) sundram
u choose this in which u want to invest
another thing u always invest in (divident plan )
in any one monthly invest not more than 2k
if u like 10 yrs investing plan then it will good for ur wealth bcz when market will recover then u have good amount of units so go ahead
out of this you can invest 10k on insurance like LIC or in PPF.
and remaining (as much as you can) on ELSS (Lumpsum). Go for some scheme which has a proven record over the years. I am suggest this rather than SIP cause you can look at the stock market and decide weather you want to invest at this time or not. (if the stock market is very high u can decide not to invest). You can always have the option of withdrawing this amount after 3 years. Also you will not be stuck with one scheme and regret why u chose that.
If you are below 45 years you can opt for DWS TAX SAVING FUND and enjoy free insurance cover .
- Always opt for different dates to contribute you SIP amount e.g. 1 / 2 / 7/ 10 / 14 / 15 / 20 / 21 / 25 / 28, try to make sure that you get maximum entries in the month amoung different schemes.
- If you had opted six - seven schems (i suggest u following)
ICICI Prudential Tax Plan (ELSS)
Kotak Tax Saver (ELSS)
HDFC Long Term Advantage Fund (ELSS)
HDFC Tax Saver (ELSS)
Principal Tax Savings Fund (ELSS) ...more