3 Year return

23.45%
Launched on January 2013 (11 years)

Investment Details

₹500

Minimum SIP Amount

₹500

Minimum one time investment

Fund has 3 years period

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Risk Involved

scale

Your principal will be at

Very High Risk

Scheme Information

Asset Under Management

₹1428.33 Cr.

Expense Ratio

0.96% (inclusive of GST)

Exit Load

Nil

Ratings

ARQ Rating
3

Ratings by other agencies

4
4
5

Tax Implications

Withdrawal after 3 years:

10% tax on gains above ₹1 lakh per financial year

Fund Holdings

Holdings

Bank of India Mutual Fund Managers

AM

Aakash Manghani

Fund Manager since Jul 2019

View Details

Fund House Details

Bank of India Mutual Fund

Bank of India Mutual Fund Asset management company

AUM ₹7,950.29 Cr.
No. of Schemes 62
Setup Date NA

Peer Comparison

Comparison with other similar funds

Schemes by Bank of India Mutual Fund

List of mutual fund schemes by AMC

About Bank of India Tax Advantage Fund Direct Plan Growth

Bank of India Tax Advantage Fund, managed by Bank of India AXA Mutual Fund, falls within the category of equity-linked savings schemes (ELSS), providing investors with a tax-saving investment avenue. This direct growth plan is designed to offer capital growth potential while enabling tax benefits. The fund primarily invests in a diversified portfolio of equity and equity-related securities, aiming to deliver higher returns over the long term. The expense ratio of the fund is slightly higher than the category average.

Investment Objective of the Scheme

The scheme's primary objective is to provide investors with an opportunity for capital appreciation and tax savings. Bank of India Tax Advantage Fund Direct Plan Growth achieves this by primarily investing in a diversified range of equity stocks across various sectors and market capitalisations. The fund aims to provide the dual benefit of potential capital growth and tax deductions for eligible investments.

Key Features of The Fund

5-year return 29.75%
Expense Ratio 0.96%
Fund Manager Aakash Manghani
Fund Size ₹1428.33 Cr
Risk Profile Very High

Is This Scheme Right for Me?

If you're looking to invest for both capital growth and tax savings, Bank of India Tax Advantage Fund Direct Plan Growth could be a suitable choice. This fund aligns with individuals seeking to benefit from the potential returns of equity investments while simultaneously reducing their tax liability through eligible deductions. However, remember that equity investments carry market-related risks, and the tax benefits are subject to prevailing tax laws. Evaluate your investment goals, risk tolerance, and tax planning needs before considering this fund. Seeking guidance from financial experts can provide personalised insights for well-informed decisions.

AMC Contact Details

Name Bank of India Mutual Fund
Launch Date March 2008
Addresss Bank of India Investment Managers Private Limited, B/204, Tower 1, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400013.
Contact 022-61249000 1800 - 266 - 2676 1800 - 103 – 2263 91-22-61249024
Email service@boimf.in
Website https://www.boimf.in/

Disclaimer: Mutual funds are subject to market risk. Read all scheme-related documents carefully to make informed-decision.

Take the Guessing out of Investing

Compounding in SIP can make it difficult to estimate the expected returns in a mutual fund. The process of guessing can be replaced with estimating as Angel One's free SIP calculator gives you the approximate amount to be expected. The SIP calculator online takes into consideration the principle of compounding and gives your return amount depending on variables such as years, SIP amount as well as the expected rate of return.

FAQs

What is today's NAV of Bank of India ELSS Tax Saver?

NAV, or Net Asset Value, is the price of a single unit of a mutual fund. It is calculated by dividing the current value of holdings held by the mutual fund scheme at the end of the day by the total number of units issued. The NAV changes every day. The NAV of Bank of India ELSS Tax Saver Jul 19 2024 is 196.52

What is the AUM of Bank of India ELSS Tax Saver?

Short for Asset Under Management, AUM means the total assets held by a mutual fund scheme. The AUM of the fund changes every day based on the fluctuation in the price of the underlying assets. Fund houses don't update AUM on a daily basis. They only update it at the end of the month and release it within a few days of the following month. The AUM of Bank of India ELSS Tax Saver is 1428.33 crore.

What is the expense ratio of Bank of India ELSS Tax Saver?

The expense ratio is the annual charges you pay to the mutual fund house for managing your investments. It is a percentage of Assets Under Management. It is deducted from the fund’s returns. The expense ratio of Bank of India ELSS Tax Saver is 0.96%

What are the returns of Bank of India ELSS Tax Saver since inception?

The Bank of India ELSS Tax Saver was launched on Jan 01 2013. The fund has delivered a CAGR of 20.19 since inception.

What is the minimum SIP amount to invest in Bank of India ELSS Tax Saver?

A Systematic Investment Plan (SIP) in mutual funds allows you to invest small amounts periodically instead of a one-time investment. The frequency of investment can be monthly, quarterly, half-yearly or annually, as per your convenience. The minimum SIP for Bank of India ELSS Tax Saver is 500.

How do I invest in Bank of India ELSS Tax Saver?

  1. Make sure you are logged in to Angel One.
  2. Select the type of investment: SIP or one-time.
  3. In case of an SIP, select the amount and date and click ‘Start SIP’. In case of a one-time investment, enter just the amount.
  4. Proceed by clicking the pay button and choosing your mode of payment.
  5. Your portfolio will be updated with this investment in 3-5 working days.

How to start an SIP in Bank of India ELSS Tax Saver?

  1. Click on the ‘Invest’ button.
  2. Enter your desired SIP amount and the SIP date.
  3. You can uncheck the ‘Make first payment now’ box if you don’t want to make the payment right away.
  4. Choose your payment method between UPI and Net Banking.
  5. Make your payment.
  6. Your SIP is created.

How do I automate an SIP in Bank of India ELSS Tax Saver?

  1. Once you create an SIP, click on ‘Set up autopay’
  2. Select your desired verification method - debit card, net banking or Aadhar method credentials - and click on submit.
  3. Once you verify the OTP, your mandate request will be created.

How can I withdraw/redeem my investment in Bank of India ELSS Tax Saver?

  1. Go to the ‘Investments’ section and click on the mutual fund scheme you want to withdraw.
  2. Enter the amount you want to withdraw and tap the ‘Withdraw’ button.
  3. Verify the details on the ‘Confirm withdraw’ screen.
  4. Select the bank account in which you want to receive the funds.
  5. You will receive your funds within three working days of placing the order.
  6. You can track your order in the ‘Orders’ section.