Mutual funds have always been a favorite option for investors.
ELSS mutual funds have a lock in period of 3 years
You can claim tax exemption under section 80C on investments.
New Delhi. If you are also planning to invest in mutual funds, then tell that Navi Mutual Fund has reduced the minimum amount for both new investment and additional investment in its mutual fund schemes from the existing 1000, 500 and 100 rupees. 10. (in multiples of Rs. 1). This change has come into effect from 27 September. The minimum application amount has been reduced in all schemes of Navi Mutual Fund except equity-linked savings scheme.
Investing in mutual funds has always been viewed as a long-term investment. If you keep investing in mutual funds for a long time, then you get tremendous benefits of compounding.
lock-in of three years
ELSS mutual funds have a lock in period of 3 years. Because of this, you stay invested in this scheme for a long period to get good returns.
Also read: This fund has made investors crorepati, making Rs 9 crore by investing ₹ 10,000 monthly!
You can take advantage of tax deduction
In this, you can avail tax deduction up to the limit of Rs 1.50 lakh on the amount invested. Investments up to Rs 1.5 lakh in a financial year can claim tax exemption under section 80C.
For schemes like Navi Liquid Fund, Navi Regular Savings Fund (hybrid scheme investing primarily in debt papers) and Navi Flexi Cap Fund, the minimum application amount has been reduced from Rs.1,000 to Rs. 10 (in multiples of Rs. 1). For these schemes, the minimum additional application amount has been reduced from Rs 100 to Rs 10. This also applies to Equity Hybrid Fund of Navi Mutual Fund, which is a hybrid scheme investing primarily in equities, and Large & Midcap Fund.
Also read: RBI may increase the repo rate, know what will be the effect on your money?
For schemes like Navi Mutual Fund’s Nifty 50 Index Fund, Nifty Next 50 Index Fund, Nifty Bank Index Fund, US Total Stock Market Fund of Fund, Nifty Midcap 150 Index Fund, NASDAQ 100 Fund of Fund and Nifty India Manufacturing Index Fund, The minimum application amount has been reduced from Rs 500 to Rs 10.
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FIRST PUBLISHED : September 27, 2022, 20:10 IST