Best ELSS Tax Saver Funds in India (2026)
Live · updated 2026-09-16 Ranked by data, refreshed from daily NAVs
This is the complete, data-ranked list of elsss we track - every Direct-Growth scheme in the category with a meaningful track record, ordered by long-term quality (King Score). This page is recomputed from NAV data every day, so it cannot go stale, and every fund on it links to a full research page with returns, risk, SIP outcomes, holdings and manager track record.
ELSS funds (equity linked savings schemes) are the only mutual funds that qualify for a tax deduction - up to ₹1.5 lakh a year under Section 80C of the old tax regime - and they carry the shortest lock-in of any 80C option at just three years, versus five for tax-saver FDs and fifteen for PPF. Under the hood they are simply flexi-cap-style equity funds with a lock.
Two things people miss. The lock-in applies to each instalment separately - every SIP instalment is locked for its own three years. And if you have moved to the new tax regime, the 80C deduction does not apply, which removes the tax reason to choose ELSS over a regular equity fund. The quality ranking below matters either way: a three-year lock in a bad fund is three years of being stuck with it.
Tap any column heading to sort. Every fund name links to its full review.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | WhiteOak Capital ELSS Tax Saver Fund | 80 | 96 | 3.2% | 11.7% | 2.1% | 15.3% | n/a | n/a | 0.58 | 21.7% | -16.4% |
| 2 | BARODA BNP PARIBAS ELSS Tax Saver Fund | 72 | 92 | 1.1% | 7.5% | 3.4% | 14.2% | n/a | n/a | 0.5 | 19.8% | -17.3% |
| 3 | HSBC ELSS Tax saver Fund | 79 | 90 | 1.4% | 11.4% | 3.2% | 14.9% | n/a | n/a | 0.48 | 19.2% | -19.2% |
| 4 | Motilal Oswal ELSS Tax Saver Fund | 97 | 82 | 2.9% | 16.4% | 8.9% | 20.7% | 16.6% | 17.3% | 0.71 | 19.2% | -37.7% |
| 5 | JM ELSS Tax Saver Fund (Direct) | 99 | 80 | 5.6% | 16.1% | 6.6% | 15.4% | 13.8% | 15.9% | 0.52 | 18.1% | -37.4% |
| 6 | Edelweiss ELSS Tax Saver Fund | 69 | 80 | 0.7% | 5.7% | 4.1% | 12.4% | 11.4% | 13.2% | 0.4 | 16.0% | -36.8% |
| 7 | Tata ELSS Fund | 78 | 78 | 1.8% | 7.6% | 5.8% | 11.9% | 11.9% | 14.2% | 0.36 | 16.4% | -36.8% |
| 8 | quant ELSS Tax Saver Fund | 93 | 75 | 1.5% | 13.2% | 10.9% | 13.6% | 14.7% | 19.8% | 0.41 | 22.0% | -36.1% |
| 9 | SBI ELSS Tax Saver FUND | 18 | 75 | -2.8% | 1.1% | -4.3% | 12.6% | 14.2% | 13.8% | 0.44 | 17.8% | -38.2% |
| 10 | ITI ELSS Tax Saver Fund | 82 | 71 | 1.4% | 15.3% | 3.1% | 15.8% | 12.4% | n/a | 0.5 | 20.9% | -38.5% |
| 11 | DSP ELSS Tax Saver Fund | 26 | 71 | -2.1% | 0.9% | -2.3% | 12.0% | 11.3% | 14.6% | 0.36 | 18.9% | -37.2% |
| 12 | Mirae Asset ELSS Tax Saver Fund | 52 | 70 | -0.0% | 5.6% | 0.7% | 11.1% | 10.4% | 16.6% | 0.32 | 19.0% | -37.8% |
| 13 | Canara Robeco ELSS Tax Saver | 38 | 70 | -1.0% | 4.6% | -0.9% | 10.2% | 9.4% | 14.7% | 0.27 | 16.1% | -34.3% |
| 14 | HDFC ELSS Tax saver | 23 | 70 | -0.5% | 0.4% | -6.1% | 11.7% | 13.5% | 13.0% | 0.39 | 15.6% | -44.1% |
| 15 | Nippon India ELSS Tax Saver Fund | 31 | 68 | -1.6% | 2.2% | -0.8% | 11.1% | 11.2% | 10.5% | 0.3 | 15.5% | -51.9% |
The category returns: 1 month to 10 years𝕏 Share this statWhatsApp
Over the last 1 year, the category averaged -1.0% - the best, quant ELSS Tax Saver Fund, returned 10.9% while the weakest managed -10.6%. That spread is why picking within the category matters. Over 10 years the average compounding rate is 13.7% a year, which turned ₹1 lakh into about ₹361,100.
| Period | Average | Median | Best fund | Weakest |
|---|---|---|---|---|
| 1 month | -3.8% | -4.0% | Motilal Oswal ELSS Tax Saver Fund (-1.1%) | -5.2% |
| 3 months | 0.2% | -0.0% | JM ELSS Tax Saver Fund (Direct) (5.6%) | -2.8% |
| 6 months | 5.7% | 5.1% | Motilal Oswal ELSS Tax Saver Fund (16.4%) | -1.7% |
| 1 year | -1.0% | -1.5% | quant ELSS Tax Saver Fund (10.9%) | -10.6% |
| 3 years (CAGR) | 10.7% | 10.2% | Motilal Oswal ELSS Tax Saver Fund (20.7%) | 3.5% |
| 5 years (CAGR) | 10.8% | 10.8% | Motilal Oswal ELSS Tax Saver Fund (16.6%) | 5.3% |
| 10 years (CAGR) | 13.7% | 13.1% | quant ELSS Tax Saver Fund (19.8%) | 10.3% |
Averages across every qualifying fund, refreshed daily. Best-fund links open that fund's full review.
What ₹1 lakh became
The same returns, translated into money - at the average pace and at the best fund's pace:
| Held for | Average pace | ₹1 lakh → (average) | ₹1 lakh → (best fund) |
|---|---|---|---|
| 1 year | -1.0% a year | ₹99,000 | ₹110,900 |
| 3 years | 10.7% a year | ₹135,700 | ₹175,800 |
| 5 years | 10.8% a year | ₹167,000 | ₹215,500 |
| 10 years | 13.7% a year | ₹361,100 | ₹608,900 |
Pre-tax, from historical returns. The averages smooth over a very bumpy ride - see the worst-fall column in the ranking above for what the journey involved.
The category by the numbers
| Funds that qualify | 33 |
| Combined assets | ₹232,108 Cr |
| Average 3-year return | 10.7% a year (best 20.7%, weakest 3.5%) |
| Average 5-year return | 10.8% a year |
| Average worst-ever fall | -33.3% (deepest: -51.9%) |
| Average expense ratio (Direct) | 0.85% |
| Largest fund by assets | Axis ELSS Tax Saver Fund (₹31,023 Cr) |
Put the risk number in rupees: at the average worst fall of -33.3%, ₹1 lakh temporarily becomes about ₹66,700. That is the stretch every ranked fund's investors had to sit through at some point - the ranking rewards the funds that made that wait worthwhile.
Momentum check: what is hot right now
As of 2026-09-16, 3 of the 33 funds here rate RS 90 or above (top-decile recent momentum versus peers). The strongest momentum belongs to JM ELSS Tax Saver Fund (Direct) (RS 99/99). Average return over the last 3 months: 0.2%; over 6 months: 5.7%. Momentum is a snapshot, not a ranking criterion here - but it tells you whether this corner of the market is currently in favour.
Before you pick a ELSS tax-saver fund: four checks
- Open the fund's page and look at the worst-fall figure in rupees - decide whether you could genuinely sit through it without selling.
- Check the rolling-return consistency, not just the trailing return: a fund that delivered in most windows beats one lucky streak.
- Compare its expense ratio against the category average shown above - a persistent 0.5% cost gap compounds into lakhs over decades.
- If you already own funds in this category, check the portfolio overlap section on the fund page - two funds owning the same stocks is one bet, not two.
Filter the entire Indian mutual fund universe by 40+ metrics - returns, consistency, drawdown, RS Rating, King Score, cost - then chart, compare and backtest anything you find.
How to read the table
RS (1-99) is recent momentum versus category peers - 99 is the hottest right now. King (0-100) is the long-term quality composite this list is ranked by. 3M/6M are recent returns; 3Y and 5Y CAGR are annualised longer records. Sharpe is return earned per unit of volatility - higher means smoother compounding. Roll 3Y is the median of every 3-year holding period in the fund's history, the fairest single return number a fund has. Worst fall is the deepest peak-to-bottom loss ever - the number that tests whether you would have stayed invested. Missing values show as n/a, usually because the fund is too young for that measurement.
The top 10, decoded𝕏 Share this statWhatsApp
- WhiteOak Capital ELSS Tax Saver Fund (ELSS) - King Score 96/100, RS 80/99 right now. 3-year return 15.3% a year, against a worst-ever fall of 16.4% (₹1 lakh briefly ₹83,600). Median 3-year rolling return 21.7%, sharpe 0.58.
- BARODA BNP PARIBAS ELSS Tax Saver Fund (ELSS) - King Score 92/100, RS 72/99 right now. 3-year return 14.2% a year, against a worst-ever fall of 17.3% (₹1 lakh briefly ₹82,700). Median 3-year rolling return 19.8%, sharpe 0.5.
- HSBC ELSS Tax saver Fund (ELSS) - King Score 90/100, RS 79/99 right now. 3-year return 14.9% a year, against a worst-ever fall of 19.2% (₹1 lakh briefly ₹80,800). Median 3-year rolling return 19.2%, sharpe 0.48.
- Motilal Oswal ELSS Tax Saver Fund (ELSS) - King Score 82/100, RS 97/99 right now. 3-year return 20.7% a year, against a worst-ever fall of 37.7% (₹1 lakh briefly ₹62,300). 5-year pace 16.6% a year, median 3-year rolling return 19.2%, sharpe 0.71.
- JM ELSS Tax Saver Fund (Direct) (ELSS) - King Score 80/100, RS 99/99 right now. 3-year return 15.4% a year, against a worst-ever fall of 37.4% (₹1 lakh briefly ₹62,600). 5-year pace 13.8% a year, median 3-year rolling return 18.1%, sharpe 0.52.
- Edelweiss ELSS Tax Saver Fund (ELSS) - King Score 80/100, RS 69/99 right now. 3-year return 12.4% a year, against a worst-ever fall of 36.8% (₹1 lakh briefly ₹63,200). 5-year pace 11.4% a year, median 3-year rolling return 16.0%, sharpe 0.4.
- Tata ELSS Fund (ELSS) - King Score 78/100, RS 78/99 right now. 3-year return 11.9% a year, against a worst-ever fall of 36.8% (₹1 lakh briefly ₹63,200). 5-year pace 11.9% a year, median 3-year rolling return 16.4%, sharpe 0.36.
- quant ELSS Tax Saver Fund (ELSS) - King Score 75/100, RS 93/99 right now. 3-year return 13.6% a year, against a worst-ever fall of 36.1% (₹1 lakh briefly ₹63,900). 5-year pace 14.7% a year, median 3-year rolling return 22.0%, sharpe 0.41.
- SBI ELSS Tax Saver FUND (ELSS) - King Score 75/100, RS 18/99 right now. 3-year return 12.6% a year, against a worst-ever fall of 38.2% (₹1 lakh briefly ₹61,800). 5-year pace 14.2% a year, median 3-year rolling return 17.8%, sharpe 0.44.
- ITI ELSS Tax Saver Fund (ELSS) - King Score 71/100, RS 82/99 right now. 3-year return 15.8% a year, against a worst-ever fall of 38.5% (₹1 lakh briefly ₹61,500). 5-year pace 12.4% a year, median 3-year rolling return 20.9%, sharpe 0.5.
Frequently asked questions
Which is the best ELSS tax-saver fund right now?
On our data-driven ranking as of 2026-09-16, WhiteOak Capital ELSS Tax Saver Fund scores highest (King Score 96/100). That is a description of its record versus peers, not a recommendation - rankings move as NAVs update, and the right fund depends on your goals and risk tolerance.
Are ELSS tax-saver funds risky?
The category's numbers answer this better than adjectives: the average fund here has seen a worst-ever fall of -33.3%, and the deepest fall in the category is -51.9%. If a temporary loss of that size would make you sell, this category (or its allocation size in your portfolio) deserves a rethink. Risk here is not hypothetical - it is a matter of record.
What returns have ELSS tax-saver funds given historically?
Across the 33 funds we track in this category, the average 3-year return is 10.7% a year, with the best at 20.7% and the weakest at 3.5%. Over 5 years the category average is 10.8% a year. These are records, not projections - the next three years owe nothing to the last three.
What is the average 1-year return of ELSS tax-saver funds right now?
As of 2026-09-16, the 33 qualifying funds averaged -1.0% over the last year (median -1.5%). The best, quant ELSS Tax Saver Fund, returned 10.9%; the weakest returned -10.6%. One year is weather, not climate - check the 5 and 10 year columns before drawing conclusions.
Which ELSS tax-saver fund gave the highest return in the last 10 years?
quant ELSS Tax Saver Fund leads with 19.8% a year over 10 years - ₹1 lakh became about ₹608,900 pre-tax. The average across funds with a 10-year record is 13.7% a year. A decade-long record says a lot about the past and nothing certain about the next decade.
How is this list ranked?
Funds are ordered by King Score - a 0-100 composite of 3-year returns, rolling consistency, worst drawdown and Sharpe, each measured against category peers. The full formulas are public - see our methodology page. No fund pays to be here and rankings cannot be bought.
Should I invest in the #1 fund on this list?
We cannot tell you that - MF Terminal is descriptive research, not investment advice. A top rank says the past record was strong versus peers. Read the fund's full page, check the drawdowns you would have to sit through, and decide against your own horizon.
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All figures pre-tax, from AMFI NAV history. Rankings are descriptive and change with the data. Nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.