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

An investor holds units of an Equity Linked Savings Scheme (ELSS). What is the statutory lock-in period for these units?

ELSS units have a lock-in of 3 years from the date of allotment. For SIP investments, each instalment is locked in separately for 3 years from its own allotment date, not from the first investment.

  1. A1 year from the date of allotment of each unit
  2. B3 years from the date of allotment of each unitCorrect
  3. C5 years from the date of allotment of each unit
  4. D3 years from the date of the first investment for all units

Explanation

ELSS units carry a lock-in of 3 years from the date of allotment. With SIPs, each instalment has its own lock-in from its own allotment date, so the fourth option is wrong.

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