10 tax saving funds that can make your money grow

There are very few of us out there who don't want to make money. Most of us, in fact, are very interested in seeing our wealth grow, particularly if it happens without too much effort on our part.

If you fall in this rather large category, then mutual funds are an investment option you must consider. If you are worried about tax implications, you could invest in ELSS or tax saving mutual funds.

According to Value Research, a premier mutual fund research company, investing in certain ELSS funds would have seen the value of your money grow by more than 50 per cent in the last one year.

To put it simply, if you had invested Rs 10,000 on June 7, 2006, it would have multiplied to more than Rs 15,000 by June 8, 2007.

This table shows the top 10 tax saving mutual funds: