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Equity Linked Saving Scheme (ELSS)

Invest in Equity Linked Saving Scheme (ELSS) to avail tax benefit under Sec 80C.

 

ICICI Prudential Long Term Equity Fund (Tax saving) is an open-ended, diversified equity Mutual Fund scheme with the following benefits:

 
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Lock in period of 3 years.

Option to invest through Systematic Investment Plan (SIP).

 

The income on the redemption of ELSS units is treated as long-term capital gain , and is not subject to taxation.


ELSS is suitable for investors who want:

An opportunity to earn competitive returns and potential to earn tax-free dividend.

 

To invest for a shorter tenure of 3 years as compared to other investment options that qualify for Sec 80C

 

Investment Philosophy

This fund has a lock-in period of 3 years, which gives the fund manager the flexibility to make strategic, long-term investments in a diversified portfolio.

 

It comprises of a mix of large and medium sized stock, carefully chosen after intensive fundamental analysis and research, having potential of long-term capital appreciation and growth.

Key Features:

Type Open-ended Equity Linked Savings Scheme
Plans Regular & Direct
Options Growth & Dividend
Default Option Divident Reinvestment
Application Amount ₹500/- (plus in multiple of ₹1/-)
Minimum Additional Investment ₹500/- & in multiples thereof
Entry Load Nil. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors' assessment of various factors including the service rendered by the distributor.
Exit Load Nil
Redemption cheques issued -
Minimum Redemption Amount ₹1000/- (plus in multiples of ₹1/-)
Systematic Investment Plan Monthly: Minimum of ₹500/- or multiples thereof and 5 post-dated cheques for a minimum of ₹500/- for a block of 5 months in advance

Quarterly: Minimum ₹5000/- + 3 post dated cheques of ₹5000/- each
Systematic Withdrawal Plan No

Product Labeling:

Riskometer Moderately

 

The products, services and benefits referred to herein are subject to the terms and conditions governing them as specified by ICICI Bank / third party from time to time. Nothing contained herein shall constitute or be deemed to constitute an advice, invitation or solicitation to sell/purchase any products/services of ICICI Bank / third party and is not intended to create any rights and obligations. ICICI Bank is acting merely as a distributor of third parties for mutual funds. Any investment in such third party products shall constitute a contract between the investor and the third party. Participation by ICICI Bank's customers is on a purely voluntary basis and there is no direct or indirect linkage between the provision of the banking services offered by ICICI Bank to its customers and their investment in third party products. ICICI Bank shall not be liable or responsible for any loss resulting from third party’s products.

 

ICICI Bank distributes Mutual Fund schemes of its affiliates and group companies.

 

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Disclaimer: Terms and conditions of ICICI Bank and third parties apply. ICICI Bank is not responsible for third party products, goods, services and offers. Usage of any third party product / service shall constitute a contract between the user and the third party.Nothing contained herein shall constitute or be deemed to constitute an advice, invitation, offer or solicitation to sell/purchase any products/services of ICICI Bank or any third party. The tax write up above is for the general understanding and reference. The user needs to verify all the facts, law and contents with the text of the prevailing statutes and seek appropriate professional advice before acting on the basis of any information contained herein as the taxation implications may vary depending upon the facts in each case/interpretation by tax authorities and the tax laws are subject to change from time to time. ICICI Bank Ltd expressly disclaims any liability to any person, in respect of anything done or omitted to be done by any such person by placing reliance upon the contents of this write-up.