Top 10 Mutual Funds SIPs Under Rs 500

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Regular investments through a Systematic Investment Plan can help build wealth over the long-term and are more affordable than lump-sum investments.

SIPs allow for rupee cost averaging, which can help protect you against certain market risks. Find out more about the Top 10 best SIP plans under Rs 500 in India here.

1. HDFC Mid Cap Opportunities Fund

This fund is an excellent way to add mid-cap stocks to their portfolio and is known to deliver higher than category average long-term returns.

SIPs offer an easier and more disciplined way of investing that may reduce risks associated with market volatility while simultaneously allowing investors to compound their investment over time and expand it through compound interest.

Cholamandalam Investment & Finance Company, Bharat Electronics, Sundram Fasteners, and Supreme Industries are some of the prominent holdings in this fund's portfolio.

2. ICICI Prudential Bluechip Fund

ICICI Prudential Bluechip Fund is an open-ended scheme that invests in large-cap companies' equity and related instruments and has outshone both category and benchmark returns over long horizons.

Under uncertain and volatile market conditions, they have successfully protected investors while rewarding them with above-average returns during subsequent market rallies.

Before investing, investors should carefully assess their risk appetite, financial goals, and investment horizon before entering this scheme. Please review all documents related to it before investing.

3. ICICI Prudential Tax Saver Fund

ICICI Prudential Tax Saver Fund is an ELSS fund offering low-risk investments with tax benefits. You have the flexibility of choosing between various equity and debt funds according to your risk appetite and life cover coverage.

ICICI Prudential Tax Saver Direct Plan-Growth offers returns that are on par with other funds in its category. Returns generated from investing in this fund add to investors' income and are taxed according to individual tax slabs. Mittal Kalawadia manages this fund.

4. HDFC Tax Saver Fund

HDFC Tax Saver Fund is an active equity scheme designed to allow investors to build wealth over time by diversifying investments across a wide variety of Equity instruments.

ELSS funds (Equity Linked Savings Schemes) are an increasingly popular investment choice among taxpayers, offering up to Rs 1.5 lakh of tax benefits under Section 80C of the Income Tax Act.

ELSS funds offer lower lock-in periods and higher returns compared to other tax-saving investments but also carry various associated risks.

5. ICICI Prudential Tax Saver Scheme

ICICI Prudential Tax Saver Scheme is an open-ended Unit Linked Insurance Plan (ULIP), giving you the chance to invest in funds of your choosing and grow your savings at the same time as providing comprehensive financial protection for yourself and your family.

This fund aims to generate long-term capital appreciation by investing primarily in Equity and Equity Related Securities, qualifying for tax deduction under Section 80C of the Income Tax Act. The scheme falls within the Equity-ELSS category with moderate to high risk.

6. ICICI Prudential Tax Saver Fund II

ICICI Prudential Tax Saver Fund II, previously known as ICICI Long Term Equity Fund (Tax Saving) Direct Growth, is an open-ended ELSS scheme to produce long-term capital growth through investing in an array of equity and equity-related securities.

Investing in ELSS funds offers three distinct advantages - financial security for your family, wealth creation, and tax benefits. However, before investing, you must understand the three-year lock-in period before you do.

ET Money makes investing in ELSS funds simple with our app, where you can also manage and redeem investments.

7. ICICI Prudential Tax Saver Fund III

Systematic Investment Plans or SIPs have quickly become an extremely popular way of investing in mutual funds in India. SIPs enable investors to make regular contributions a fraction of their income; making the SIP approach much lower risk than lump sum investment methods.

SIPs provide rupee cost averaging and can reduce market risk, as well as instill the habit of regular investing, which will assist in meeting financial goals in the long run. They're an especially good solution for investors who feel intimidated by large investments.

8. ICICI Prudential Tax Saver Fund IV

ICICI Prudential Tax Saver Fund is an equity-based tax savings mutual fund scheme with an impressive track record for wealth creation over long tenors and can serve as one of the top ELSS SIP funds for your money.

ELSS funds invest in stock markets and tend to offer higher returns than more traditional tax-saving instruments like fixed deposits, PPFs, and FDs. Furthermore, investments made into such funds qualify for income tax deduction under Section 80C of the IRS code.

Start a SIP or lump sum investment in the ICICI Prudential Tax Saver Fund at Groww with no brokerage and low charges.

9. ICICI Prudential Tax Saver Fund V

ICICI Prudential Tax Saver Fund V is an Equity Linked Savings Scheme (ELSS). Over long tenors, it has provided incredible wealth creation. Furthermore, it consistently outshone the Public Provident Fund (PPF).

This scheme promises high returns from both capital appreciation and dividend payouts, investing predominantly across equity instruments with a three-year lock-in period and value investing approach to stock selection. It is best suited for investors with medium to long-term investment horizons who understand that any investments subject to market risk. Before making your decision to invest, please read all documents related to the scheme thoroughly before proceeding.

10. ICICI Prudential Tax Saver Fund VI

ICICI Prudential Tax Saver Fund VI is an Equity-Linked Savings Scheme (ELSS), that provides investors with an opportunity to grow wealth over the long term while simultaneously saving on taxes. Primarily investing in equity-related instruments across varying market capitalizations and themes.

ICICI Pru Signature is an innovative ULIP that can help you achieve your life goals while safeguarding you and your loved ones with life insurance protection. Premium payments may qualify for tax deductions under Section 80C of the Income Tax Act 1961, offering greater tax savings potential.

Conclusion

In conclusion, investing in mutual funds through Systematic Investment Plans (SIPs) under Rs 500 can be a convenient and affordable way to build wealth over time. The top 10 mutual funds listed in this article offer a diverse range of options for investors looking to start or add to their investment portfolio. It is important to conduct thorough research and consider factors like risk tolerance and investment goals before making any decisions. By consistently investing in these top-performing funds, individuals can potentially secure their financial future and achieve their long-term objectives. Start your journey towards financial success by exploring and investing in one of these top 10 mutual funds SIPs under Rs 500 today!

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