According to mutual fund advisors, ELSS or tax saving mutual funds are ideal for new investors because of the mandatory lock-in period. Like all tax-saving investment options, ELSSs come with a mandatory lock-in period of three years. This forces investors to stay invested even during troubling times in the stock market. Once they get acquainted with short-term volatility in the stock market, they gain confidence to invest more in equity mutual funds.
Nine big financial changes that you must watch out for in October
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