ICICI Prudential Tax Plan - Know Complete Information
Table of Contents
Type or nature of fund
Being a tax saving plan this fund is an open-ended equity linked savings scheme
Investment objective
The main objective of this mutual fund is to invest in the equity markets while providing high returns and tax benefits to investors under section 80C of the IT Act. It also features short lock-in periods of 3 years and provides tax free dividends to investors.
Fund Information
Inception date | 19 August 1999 |
CRISIL rank | 3 as of June 2015 |
Plans | Regular and Direct |
Options | Growth and Dividend |
Schemes | •ICICI Prudential Tax Plan - Direct Plan - Dividend•ICICI Prudential Tax Plan - Direct Plan - Growth•ICICI Prudential Tax Plan - Regular Plan - Dividend•ICICI Prudential Tax Plan - Regular Plan - Growth |
Entry load | Nil. An upfront commission may be payable if the plan is taken from a distributor. It will be paid by the investor directly to the distributor. |
Exit load | Nil |
Minimum investment | Rs. 500 with increments in multiples of Re. 1 |
SIP | •Rs. 500 for monthly SIP with 5 post dated cheques•Rs. 5,000 for quarterly SIP with 3 post dated cheques |
Product label | •The risk factor for this mutual fund is Moderately High•It is aimed at the investor who is looking for long term wealth creation and tax savings |
Benchmark | CNX NIFTY IndexThe CNX NIFTY Index is a free floating market capitalisation weighted index that covers 22 sectors from the Indian economy. It is also known as Nifty 50 or just Nifty and also deals with exchange traded funds and exchange traded futures and options. |
SWP | Not Available |
STP | Available with minimum amount of Rs. 1,000 and a maximum tenure of 10 years. |
Redemption | The minimum amount that can be redeemed is Rs. 500 with increments also in multiples of Rs. 500. Redemption is also allowed only after the 3 year lock-in period and can be avail via direct credit to any bank account associated with the fund. |
Fund manager(s)
Chintan Haria
- Education: M.COM, A.C.A. and ICWA
- Past experience:
- Associate Vice President. (Fund Manager) - ICICI Prudential AMC Ltd
- Senior Manager - ICICI Prudential AMC Ltd
- Assistant Manager - ICICI Prudential AMC Ltd
- Management Trainee - ICICI Prudential AMC Ltd
Investment philosophy or strategy
The investment philosophy followed by this fund is to choose large and medium sized stock based on a detailed analysis of the fundamentals. The stocks are also chosen based on their potential for long term growth and capital appreciation. The lock-in period of 3 years gives the fund managers the ideal platform for long term investments.
Expert view of the fund
The lion's share, over 90%, of the the investments made under this scheme are done in the equity markets. This fund has also provided annual returns to the tune of 21.51%, since inception, and has outperformed its benchmark over 1, 3 and 5 year returns. It provides investors with a moderately high risk investment with high returns and tax benefits on invested amounts as well as dividends. The success of this fund has been attributed to it philosophy for picking stocks based on fundamental analysis and mixes its investments between large cap and mid cap stocks.
How to apply
To apply for this fund through the distributor or ICICI Prudential itself, all investors have to do is visit their branches. At the branch they will be able to have discussions to clarify doubts about the fund and get help in filling up the application form and fulfilling KYC norms. They will also be able to make payments towards this fund via cheques and demand drafts.
For those who are looking for a more convenient solution, there is the option of applying for this fund through the website, where both existing and new investors can register. Once the accounts are created, they can invest in this fund directly via SIP or lump sum payments. These payments can be done via net banking, debit cards or NEFT and RTGS transfers.
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.