ELSS Funds are popular tax-saving funds. Know what is ELSS mutual funds , their features & how to invest in ELSS. Read more about ELSS meaning & ELSS tax benefits. ELSS is the most popular tax-saving mutual fund . It is a mutual fund that invests largely in equities and equity-associated securities of companies with high development prospects. Compare all mutual funds in elss , elss category based on multiple parameters like Latest Returns, Annualised Returns, SIP Returns, Latest NAV, Historic performance, AuM, Crisil Rank,... Meaning of ELSS An ELSS is a diversified equity mutual fund where at least 80% of the corpus is invested in equity and equity-related instruments. It has a lock-in period of three years, which is the shortest among all tax-saving investment options under Section 80C.