HDFC Tax Saver Fund | Rs 1 lakh to Rs 1 crore, know the scheme details

HDFC Tax Saver Fund | People consider investment as a burden to save income tax. This is the reason why they do not plan well to save income tax. But ways to save income tax also give you a chance to become a millionaire.

If you are not convinced, then HDFC tax saver mutual fund can be looked at. If someone had invested Rs 1 lakh in the beginning of this fund, then its value has now become around Rs 1 crore.

HDFC Tax Saver Fund NAV

HDFC Tax Saver Mutual Fund was launched on April 2, 1996. At that time its NAV was Rs 10. At the same time, HDFC Tax Saver Fund NAV has increased to Rs 900 today.

HDFC Tax Saver Fund

As far as the returns of HDFC Tax Saver Mutual Fund are concerned, the 1-year return is 27.99 percent. At the same time, the average return every year in 2 years has been 17.41 percent.

Apart from this, the average return every year in 3 years has been 27.41 percent. Similarly, in the last 5 years, this fund has been giving an average return of 12.90 per cent per year.

As far as the long term is concerned, this fund has given an average return of 15.11 per cent every year during the 10th century. As far as the return of HDFC Tax Saver Mutual Fund is concerned, it has given an average return of 17.94 percent every year.

As far as the return on Rs 10,000 is concerned, it has become Rs 10995.70 in 1 year. At the same time, the value of Rs 10,000 has increased to Rs 13785.00 in 2 years.

Similarly, in 3 years, Rs 10,000 has increased to Rs 20708.00. As far as the investment of Rs 10,000 in 5 years is concerned, it has increased to Rs 18350.20.

Similarly, in 10 years, an investment of Rs 10,000 has increased to Rs 40892.10. As far as the launch is concerned, this fund has increased from Rs 10,000 to Rs 9 lakh. That is, if someone had invested Rs 1 lakh during the launch, then it has now increased to about Rs 90 lakh.

According to AK Nigam, director of BPN Fincap, if invested in tax saver mutual funds (ELSS) for a long time, then such good returns are obtained. According to them, one should invest little by little in tax saver mutual funds.

Later, a lot of wealth can be created from it. According to them, a large amount can be created by investing in this fund as well as the top 3 ELSS funds for investment.

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