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ELSS: Only for tax saving

I had invested Rs 5 lakh in HDFC Taxsaver Fund in February 2009 just for investment purposes, not to save tax, as I never take tax rebate on my investments. I want to switch my investment into HDFC MIP Long-Term. Is it possible to switch schemes before completing three years? -Ankur Bhargava An Equity-linked Savings Scheme (ELSS) has a compulsory lock-in period of three years. So, you cannot switch before that. Moreover, if you do not intend to invest in mutual funds saving tax, which otherwise is a beneficial proposition, avoid opting for ELSS. Instead, invest in equity diversified funds ...