I have completed by the 80C limit of 1.5 lac with PF and Insurance premium. Can I still invest in ELSS mutual funds?Asked
Yes, you can invest in ELSS even if you do not need tax benefits. You can invest in same manner you do in other equity mutual funds.
But the question is whether you should invest or not. ELSS, being a tax saver fund have 3 years of lock-in period. So, if you are not investing in these funds for tax saving purpose, then it will give you very low liquidity as you cannot redeem your money before 3 years. Also, if are ready to invest in such a long period of 3 years and more, than better performing Multi cap funds to invest in with the flexibility of anytime withdraw. So, choose wisely as per your investment goal.
If you want to invest in ELSS, these are popular ELSS for 2017:
If you want to invest in other multi cap fund, these are some popular multi cap funds for 2017:
Yes you can invest in ELSS whether you need or not need tax saving investments. ELSS are just another kind of open-ended Mutual Funds. These are mostly multi-cap equity funds that give good returns in growing market.
Should you invest?
ELSS has 3 year lock-in period. Meaning, you cannot redeem your money before 3 years of investment. Also, you can find better performing Multi cap funds to invest in with the flexibility of anytime withdraw. Therefore I would say, don't invest in ELSS unless you are claiming the investment for tax benefits under section 80c.