I am a 31-year-old married person without kid. I would like to invest in ELSS. My time horizon is five years (can be more). I have no exposure in the share market. How can I start investing in ELSS? Please name a few best funds to invest and what is minimum amount of investment (Monthly & Annually)?
- Brajesh Kumar
Since this is your first investment in stocks, let us reiterate an important point. We encourage our readers to invest in equity only if they have at least five-year investment horizon. ELSSs come with a mandatory lock-in period of three years, but you should be prepared to wait for a few more years if the market gets into a bad phase.
You can either directly invest with the mutual funds or employ the service of a Amfi-certified mutual fund agent.
You can invest in a direct plan in following ways:
- Register with the fund house's online portal and invest through it
- Submit your application at the fund house's branch in person or by post
- Approach the Asset Management Company's office in person or by post
- Submit your application to the registrars of the fund house, which are CAMS and Karvy
Here is an FAQ on investing directly with mutual funds: Direct Plan FAQs
Or you can hire an AMFI registered agent. You can find agents here: Click HereHere is a list of our top rated tax-saving funds: Click Here
This article was originally published on September 08, 2015.
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