Can I switch from one ELSS to another?

I have invested in Reliance Tax Saver (ELSS) in SIP form. I want to switch to Axis Long Term Equity Fund. Is there a way to stop further SIP in my existing ELSS and start a new one?
- Chetan Patil

You can stop the further SIP contributions in your existing ELSS if you wish to.

In Equity Linked Savings Scheme (ELSS), each Systematic Investment Plan (SIP) instalment has a mandatory lock in period of three years. In this lock in period you do not have the option to exit or switch from one fund to another.

This article was originally published on February 02, 2017.