Top 10 Tax Saving Strategies

ELSS Funds: 5 Star

ELSS funds deliver 18.24% return over 5 years, with a 3-year lock-in period. Fueled by bullish equity markets, large-cap oriented schemes show promise for the near future.

NPS:  5 Stars

NPS offers an 8.16% return over the past 5 years with a lock-in till retirement. Its additional deduction benefits make it ideal for those with extra funds.

Senior Citizens Saving Scheme 4 Stars

Jan-Mar 2024 saw a return of 8.2% in Senior Citizens Saving Scheme with a 5-year lock-in. It's the prime choice for senior savings, enhanced by new rules allowing unlimited extensions.

Ulip 4 Star

ULIPs offer 8.15% returns over 5 years with a 5-year lock-in. They're tax-free but less flexible than ELSS.

Sukanya Samriddhi Yojana 4 Star

Jan-Mar 2024 records 8.2% return in Sukanya Samriddhi Yojana with lock-in till child is 18. Recent interest hike boosts appeal for parents with daughters, despite limited scope.

PPF 3stars

With a 7.1% return from Jan-Mar 2024 and a 15-year lock-in, PPF offers tax-free interest, making it more appealing than bank deposits. However, be cautious of the lengthy lock-in period."

Retirement Mutual Funds 3 Stars

Retirement Mutual Funds, rated 3 stars, yield 7-9% returns over 5 years with a 5-year lock-in. Balancing equity and debt, they offer stability and potential for good returns.

Pension Plans 3 stars

With returns ranging from 7-14% over 5 years and a lock-in till retirement, pension plans lack the cost efficiency, flexibility, and tax benefits of NPS, especially those offered by insurance companies.

NSCs, Tax-Saving FDs: 2Star

Returns 7-8%, lock-in 5 years. Suitable for late risers and senior citizens with investment limit constraints in SCSS.

Life Insurance Policies: 1 Star

Retirement Mutual Funds, rated 3 stars, yield 7-9% returns over 5 years with a 5-year lock-in. Balancing equity and debt, they offer stability and potential for good returns.