Mutual Funds offer a choice across asset classes and time horizons

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Mutual funds have caught on with retail investors due to investor education initiatives by various stakeholders. Equity oriented mutual funds seem to be more popular than their debt counterparts. According to folio numbers disclosed by the Association of Mutual Funds in India (AMFI), retail investors constituted 3.28 crore of total equity folios but just about 53.66 lakh of the total debt folios.

Since equity funds are a long-term product, most mutual fund investments are mapped to long-term goals. However, certain mutual fund products can help meet short to medium-term goals too. For example, liquid funds provide almost similar benefits as a savings bank account and higher post-tax returns while hybrid products like monthly income plans (MIPs) help achieve goals such as children's tuition expenses, buying a vehicle or planning an international trip.

Traditionally, investors prefer fixed deposits (FDs) for such goals but debt-oriented mutual funds provide a better option with advantages such as variety, convenience, liquidity, returns and tax benefits. The table here lists such mutual funds, segregated on the basis of risk-return tradeoff, indicative investment horizon and suitability.

Indexation benefits

A unique feature of investing in debt-oriented mutual funds is the indexation benefit if one stays invested for over a year — only gains made over and above the inflation rate are taxed. For example, investment for over a year is taxed at 20.6%, including cess with indexation, or 10.3% ex-indexation under long-term capital gains tax.

Bank FDs and postal deposits do not offer this benefit, where the entire interest earned is taxed according to the applicable marginal tax slabs of 10%, 20% and 30%.

Summing up, mutual funds offer products across time horizons and asset classes based on one's risk appetite. First-time investors may approach professional financial planners for mapping mutual funds with respective goals or refer to rankings from independent research providers available.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online

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Best Performing Mutual Funds

1. Largecap Funds Invest Online
1. DSP BlackRock Top 100 Fund
2. ICICI Prudential Focused Blue Chip Fund
3. Birla Sun Life Front Line Equity Fund
2. Large and Midcap Funds Invest Online

1. ICICI Prudential Dynamic Plan
2. HDFC Top 200 Fund
3. UTI Dividend Yield Fund
2. Mid and SmallCap Funds Invest Online

1. Reliance Equity Opportunities Fund
2. DSP BlackRock Small & Midcap Fund
3. Sundaram Select Midcap
4. IDFC Premier Equity Fund
3. Small and MicroCap Funds Invest Online

1. DSP BlackRock MicroCap Fund
4. Sector Funds Invest Online

1. Reliance Banking Fund
2. Reliance Banking Fund
5. Tax Saver MutualFunds Invest Online
1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
3. DSP BlackRock Tax Saver Fund
4. Reliance Tax Saver (ELSS) Fund
6. Gold Mutual Funds Invest Online

1. Relaince Gold Savings Fund
2. ICICI Prudential Regular Gold Savings Fund
3. HDFC Gold Fund