ELSS

ELSS (Equity Linked Savings Scheme) is a category of equity mutual fund that qualifies for a deduction of up to ₹1,50,000 under Section 80C (old regime only). Each instalment is locked in for three years from its own date — the shortest lock-in among 80C options. Because it invests mainly in equities, returns move with the market and are not assured. Under a Systematic Investment Plan (SIP) every instalment carries its own three-year lock-in, so units become redeemable on a rolling basis rather than all at once.