'The biggest risk is not taking any risk' is a quote attributed to Facebook founder Mark Zuckerberg, one of the leading figures in the global technology space. This holds good for investing too. As an investor, if you want complete safety of your money, you should be in government bonds, fixed deposits, PPF and savings bank accounts, but the returns from such instruments either barely meet or not meet at all the rate of inflation. So in the long run you are left worse off when you consider your purchasing power. Mutual funds, which carry varied amounts of risks depending upon the scheme you select, try to beat the inflation rate so that in the long run you are better off in terms of your purchasing power. Mutual funds are also tax efficient, carry lower risks compared to direct investing in stocks, bonds and gold, and are cost effective.

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. IDFC Tax Advantage (ELSS) Fund

4. ICICI Prudential Long Term Equity Fund

5. Religare Tax Plan

6. Franklin India TaxShield

7. DSP BlackRock Tax Saver Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. HDFC TaxSaver

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online

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