Top News

Rs. 16 lakh per hand in 5 years.. Magic SBI scheme.. Tax benefits too..!

Samayam | November 7, 2024 10:06 AM CST

SBI Fund: Some schemes in equity investments give high returns in a short period of time. One such scheme is SBI Long Term Equity Fund offered by SBI Mutual Fund. It has given annual returns of more than 25 percent in the last five years. Lumpsum has provided multibagger returns to investors. Let us now know about this scheme.

SBI Fund: At present the number of people investing in mutual funds is gradually increasing. Crores of rupees are coming into mutual funds every month. Many government and private employees stay in it. All of them mainly look for income tax benefits along with higher returns. Equity Linked Saving Schemes are preferred by all such people. Like large, medium and small cap funds, ELSS tax saver funds are also playing a vital role in Indian equity markets. These help investors save tax for long-term investments.

An opportunity to claim tax deductions under Section 80C of the Income Tax Act, 1961 on investment in ELSS funds. A maximum of Rs. Tax benefits up to 1.50 lakhs can be availed. One can invest in these schemes through systematic investment plan. But, experts say that it is better to invest in lump sum method. These schemes have a lock-in period of three years. This means that after investing, it is not possible to withdraw up to 3 years. If you invest 1000 monthly SIP then 3 years lock-in period is applicable on each SIP.

When it comes to ELSS funds, SBI Long Term Equity Fund offered by SBI Mutual Fund has given good returns among the high returns. It has given annual returns of 25.33 percent in the last three years. Looking at the last 5 years, it has provided profits at the rate of 25.74 percent per annum. It has also provided annual returns of 16.10 percent over a 10-year period.

5 lakh for Rs. 16 lakhs..

In this one time Rs. 5 lakhs lump sum investment with an average return of 25.74 per cent per hand over the last 5 years. 16 lakhs seems to have come. And for those who invested last ten years ago, now their Rs. 5 lakh worth Rs. 22 lakhs will be more. That is, within 10 years, in the form of interest, Rs. 17 lakhs will be received. But mutual funds also have risk. Invest only after knowing all the details.