Navi Mutual Fund launches India’s lowest-cost ELSS Index Fund

Bengaluru, February sixteenth, 2023: Navi Mutual Fund has introduced the launch of the Navi ELSS Tax Saver Nifty 50 Index Fund, a passive ELSS tax-saver fund*. The NFO will begin on February 14th, 2023 and conclude on February twenty eighth, 2023. With an expense ratio of 0.12% underneath direct plan, will probably be the lowest-cost tax-saving ELSS fund in India. The fund additionally has one of many lowest lock-in durations of solely 3 years amongst numerous tax saving devices underneath Section 80C. There shall be no exit-load on withdrawal put up the expiry of the lock-in interval. Investors can begin investing with as little as Rs. 500.

Recently, SEBI had issued tips which enabled Mutual Fund homes in India with an current lively tax-saver ELSS scheme to launch a passive ELSS scheme put up proscribing inflows within the lively scheme. With the launch of the Navi ELSS Tax Saver Nifty 50 Index Fund, Navi would be the first Mutual Fund in India, to benefit from these tips.

“With the Navi ELSS Tax Saver Nifty 50 Index Fund, Navi Mutual Fund is launching a product that’s targeted on fixing a key buyer ache level. Bringing the simplicity of passive investing to the area of tax-saving investments at an reasonably priced worth level is yet one more instance of our customer-centricity.” mentioned Sachin Bansal, Co-founder of Navi Group.

Investors can begin investing within the NFO anytime between February 14th and twenty eighth, 2023 on the Navi app or through any mutual fund investing platform.