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NISM Certifications · NISM-Series-V-A: Mutual Fund Distributors · Scheme Related Information

An ELSS (Equity Linked Savings Scheme) has which of the following features?

ELSS units have a mandatory lock-in of three years from the date of allotment. In a SIP, every instalment is locked in separately for three years from its own allotment date, so the lock-in does not end for all instalments when the first one matures.

  1. ALock-in of 3 years for each instalment, including SIP instalmentsCorrect
  2. BLock-in of 3 years only for the first SIP instalment
  3. CLock-in of 5 years for lump sum investments
  4. DNo lock-in but tax deduction is available

Explanation

ELSS units carry a mandatory 3-year lock-in from the date of allotment. In a SIP, each instalment has its own 3-year lock-in, so later instalments are not freed along with the first one.

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