3 Year return
19.98%Investment Details
Calculate Returns
Based on past performance of this fund
Risk Involved
Your principal will be at
Very High Risk
Asset Under Management
₹1485.63 Cr.
Expense Ratio
0.84% (inclusive of GST)
Exit Load
Nil
Tax Implications
Withdrawal after 3 years:
12.5% tax on gains above ₹1.25 lakh per financial year
Fund Holdings
Bank of India Mutual Fund Managers
AM
Aakash Manghani
Fund Manager since Jul 2019
Fund House Details
Bank of India Mutual Fund Asset management company
Peer Comparison
Comparison with other similar funds
Funds
|
3 Y Returns
|
ARQ Rating
|
---|---|---|
Motilal Oswal ELSS Tax Saver Fund |
26.08% |
2.5 |
SBI Long Term Equity Fund |
24.44% |
5 |
Quant ELSS Tax Saver Fund |
21.44% |
3.5 |
Schemes by Bank of India Mutual Fund
List of mutual fund schemes by AMC
Hybrid . Arbitrage Fund
Bank of India Arbitrage Fund Direct Plan Growth
Hybrid . Arbitrage Fund
Bank of India Arbitrage Fund Direct Plan Annual IDCW Payout
Hybrid . Arbitrage Fund
Bank of India Arbitrage Fund Direct Plan Annual IDCW Reinvestment
Hybrid . Arbitrage Fund
Bank of India Arbitrage Fund Direct Plan Monthly IDCW Payout
Hybrid . Arbitrage Fund
Bank of India Arbitrage Fund Direct Plan Monthly IDCW Reinvestment
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 | 26.95% |
Expense Ratio | 0.84% |
Fund Manager | Aakash Manghani |
Fund Size | ₹1485.63 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 |
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.
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FAQs
What is today's NAV of Bank of India ELSS Tax Saver?
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What is the minimum SIP amount to invest in Bank of India ELSS Tax Saver?
How do I invest in Bank of India ELSS Tax Saver?
- Make sure you are logged in to Angel One.
- Select the type of investment: SIP or one-time.
- 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.
- Proceed by clicking the pay button and choosing your mode of payment.
- 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?
- Click on the ‘Invest’ button.
- Enter your desired SIP amount and the SIP date.
- You can uncheck the ‘Make first payment now’ box if you don’t want to make the payment right away.
- Choose your payment method between UPI and Net Banking.
- Make your payment.
- Your SIP is created.
How do I automate an SIP in Bank of India ELSS Tax Saver?
- Once you create an SIP, click on ‘Set up autopay’
- Select your desired verification method - debit card, net banking or Aadhar method credentials - and click on submit.
- 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?
- Go to the ‘Investments’ section and click on the mutual fund scheme you want to withdraw.
- Enter the amount you want to withdraw and tap the ‘Withdraw’ button.
- Verify the details on the ‘Confirm withdraw’ screen.
- Select the bank account in which you want to receive the funds.
- You will receive your funds within three working days of placing the order.
- You can track your order in the ‘Orders’ section.