Fulfilling Your Financial Goals Through ULIPS & ELSS

14 Sep 2023

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Fulfilling Your Financial Goals Through ULIPS & ELSS

Equity Linked Saving scheme (ELSS) and Unit-linked Insurance Plans (ULIPS) are financial product that offer tax benefits under section 80C of the Income Tax Act. Let us evaluate how these products can help you realize your financial goals

Key features : ULIP & ELSS

ULIP (Unit-Linked Insurance Plan) ELSS (Equity-Linked Savings Scheme)
Underlying Investments ULIPS can be equity-oriented, debt-oriented, or a mix of both ELSS Invests primarily in Equities
Plans Multiple plans for investors with varying risk appetites Growth option, Dividend reinvestment and Dividend payout Plan
Flexibility ULIPS offers flexibility to switch between funds based on their risk appetite and market conditions ELSS investments qualify for a deduction under Section 80C, but gains are taxed at 10% on LTCG exceeding Rs 1 lakh
Lock-in period 5 years 3 years

While ELSS and ULIP have their own set of diverse feature, the right allocation will depend on the investor's investment goal and risk profile

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. The information provided is generic in nature and is for informational purpose only. Please consult your financial advisor before taking any decision.

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    The contents of this article/infographic/picture/video are meant solely for information purposes and do not necessarily reflect the views of Bank of Baroda. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Bank of Baroda or its affiliates to any licensing or registration requirements. Bank of Baroda shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

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