Here's how you can double your money in five years; 7 investment strategy to follow

First Published | Dec 3, 2024, 8:46 AM IST

Only four months left until the new financial year begins. Check these tips and tricks to gain good returns

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Tax Saving Investments

Equity Linked Savings Scheme (ELSS) is one such option where you can double your money within 5 years time

Not just tax savings

But also good returns. Investments can be made through SIPs. SIPs give good return and your money may be double in 5 years

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Double your money in just 5 years

But what plans would double your money in just 5 years. Check here to know tips and tricks for high interest rate

Motilal Oswal ELSS Tax Saver Fund

This fund has a four-star Value Research rating, which means if you invest here, there's potential for your money to grow

Quant ELSS Tax Saver Fund

Five-star Value Research rating. 5-year annual return: ~30.31%. 3-year return: ~21.71%. ₹10,000 monthly SIP yields ₹12,90,405 in 5 years

SBI Long Term Equity Fund

Five-star Value Research rating. 5-year average annual return: 30.06%. 3-year return: 32.94% to be this much

With a monthly SIP of ~₹10,000

With a monthly SIP of ~₹10,000, your five year return can be potentially around ₹12,61,442 which would make your investment get good returns

HDFC ELSS Tax Saver Fund

Four-star Value Research rating. 5-year average annual return: 27.61%. 3-year return: 28.51%. ₹10,000 monthly SIP yields ₹11,87,946 in 5 years

Bank of India ELSS Tax Saver Fund

Four-star Value Research rating. 5-year average annual return: ~27.34%. 3-year return: 27.83%. ₹10,000 monthly SIP yields ~₹11,87,399 in 5 years

Note- Investment of any sort is subject to market risks. Please consult your strategist before investment

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