IDBI Equity Advantage Fund Regular Growth
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- Save up to Rs 46,800 in taxes every year.
- Highest returns compared to other 80C investments.
- Lowest lock-in of 3 years
|Tax Saving FD||PPF||ELSS|
|Average Annualised Returns i||6%||8%||12%|
|Tax rates i||30%||Not taxable||10%*|
|Returns after tax i||4.2%||8.00%||10.80%|
|Current rate of Inflation i||4%||4%||4%|
|Real Rate of Return i||0.2%||4.00%||6.80%|
|Lock-in Period i||5 years||15 years||3 years|
- Fund Summary
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|Risk||Very High Risk|
|Fund Type||ELSS (Tax Savings)|
More about this fund
|HDFC Bank Ltd||7.43%|
|ICICI Bank Ltd||6.59%|
|Reliance Industries Ltd Shs Dematerialised||4.92%|
|Housing Development Finance Corp Ltd||4.05%|
|Kotak Mahindra Bank Ltd||3.56%|
|HCL Technologies Ltd Shs Dematerialised||3.08%|
|Sundaram Finance Ltd||2.79%|
|Cholamandalam Investment and Finance Co Ltd||2.78%|
|ABB India Ltd||2.67%|
About IDBI Equity Advantage Fund
Being an open-ended equity linked savings scheme, IDBI Equity Advantage Fund invests in equity and equity related instruments of companies across market capitalisation. It attempts at creating wealth along with generating regular income. It has a mandatory lock-in period of 3 years. Apart from capital appreciation, you get the tax benefit available under Section 80C of the Income-Tax Act, 1961. The fund manager maintains a well-diversified portfolio of stocks which are picked based on their growth potential.
Pros & Cons of IDBI Equity Advantage Fund
IDBI Equity Advantage Fund offers the following benefits:
- Tax deduction of upto Rs 1.5lakh under Section 80C of the Income Tax Act.
- Shortest lock-in period allows the fund manager to take better decision and look through the interim volatility.
- Being a star-rated fund, it has beaten its category and the benchmark in 5 year time horizon.
Fund Information and Statistics of IDBI Equity Advantage Fund
i) Inception / Launch date
IDBI Equity Advantage Fund was launched on 10 September 2013 by IDBI Mutual Fund.
ii) Risk level
Being a multi-cap fund, IDBI Equity Advantage Fund is a moderately high risk bet. Investors having a long-term investment horizon of more than 5 years may think of investing in this fund.
Redemption of Units can be made only after the expiry of the lock-in period of three years from the date of allotment of units which the holder has proposed to redeem. It will be done by a repurchase/buyback by the fund house. Under normal circumstances, your fund house will dispatch the redemption proceeds within 10 business days from date of receipt of request.
iv) Fund Manager
Mrs. Uma Venkatraman holds 15 years of experience in the financial services domain, with a special emphasis on the equity segment. She has been managing the IDBI Equity Advantage Fund since July 2018.
v) Entry / Exit load
The fund house does not charge any entry load and exit load for investing in IDBI Equity Advantage Fund.
Tax benefits of investing in IDBI Small Cap Fund
IDBI Equity Advantage Fund has a lock-in period of three years which is the lowest amongst all other tax saving alternatives available in India. It helps you to claim a tax deduction of up to Rs. 1.5 lakhs under Section 80C from your Gross Total Income and enables saving taxes up to Rs. 46,800
About IDBI Mutual Fund
IDBI Mutual Fund was established on 25th January 2010 under the Companies Act, 1956. It is being managed by the IDBI Asset Management Limited. It aims to promote financial inclusion by supporting the investor in taking informed investment decisions. It attempts to achieve this through mutual funds thereby giving him an opportunity to experience the prosperity of the capital markets.
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Frequently Asked Questions
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All investments come with risk. Risk is the volatility or fluctuation in the price (and returns) of the investment. Usually,
- High Risk = High possible returns
- Low Risk = Stable, relatively lower returns