Can we invest monthly in ELSS?
The investment in ELSS mutual fund schemes can be done either as a lump sum or via monthly systematic investment plans (SIP).
Is it necessary to invest SIP every month?
SIP is a very safe method to invest in mutual funds. If you invest in a mutual fund lump sum, depending on the market condition, you could end up paying a very high price for a mutual fund. You do not need to worry about timing the market when investing via SIP. In SIP, you invest a small amount of money every month.
Can I stop investing in ELSS before 3 years?
An ELSS investment has a lock-in period of just 3 years, which means that you can withdraw your funds from the scheme after the three year term of your investment is completed.
What is the minimum amount to invest in ELSS?
Rs 500
Similarly, as per the Axis Mutual Fund website, the minimum investment amount in their ELSS scheme, Axis Long Term Equity Fund, starts at Rs 500, irrespective of whether it is a lump sum amount, additional investment or SIP.
Can we skip SIP installment?
There is a better way to skip a few SIP instalments if you have any financial troubles. You can stop your SIP by sending a SIP Stop Request to the mutual fund house at least 30 days in advance if you foresee a cash crunch in the future. You can submit the request online or offline through an application form.
Do I need to pay monthly for mutual funds?
Investing in mutual funds is so flexible that you can invest monthly or a lumpsum as and when the money is available. You can set a monthly SIP where a fixed amount is invested every month on a particular date. Even if you do not invest any month, your earlier investments won’t be impacted.
How to choose the best ELSS fund?
Determine Your Tax Slab&Your Taxable Income. The foremost step of investing in ELSS is analysing your tax slab and the taxable Income so that you can utilise
Should your ELSS investment be a lumpsum?
However, since ELSSs are also a tax-saving investment and they come with a mandatory lock-in period, investors have started believing that it is okay to invest a lumpsum in ELSSs. It is strictly okay to invest a lumpsum in them, provided you have a long investment horizon of seven to 10 years.
Should I invest in PPF or ELSS?
People wanting to keep their money safe and gain a steady return should probably invest in PPF. People with low risk-taking capacity should invest in PPF, whereas aggressive investors should like to invest in ELSS. However, PPF gives out high returns at low risk, so it has an advantage in this regard.
What is the best mutual fund?
Top Fidelity Funds