ELSS (Equity Linked Savings Scheme) is a type of equity mutual fund that qualifies for tax deductions under Section 80C of the Income Tax Act, with a mandatory three-year lock-in period.
An emergency fund is a dedicated pool of liquid savings set aside exclusively to cover unexpected financial shocks such as job loss, medical crises, or urgent repairs without disturbing long-term investments.
EPF is a government-mandated retirement savings scheme where both employee and employer contribute a fixed percentage of salary every month, managed by EPFO.
Equity represents an ownership interest in a company, giving the holder a claim on its assets and earnings after all liabilities have been settled.
Equity mutual funds are professionally managed investment vehicles that pool money from multiple investors to buy shares listed on stock exchanges such as the NSE and BSE.
An Exchange-Traded Fund (ETF) is a basket of securities that tracks an index, commodity, or asset class and trades on a stock exchange like a share throughout the day.
The expense ratio is the annual fee a mutual fund charges investors as a percentage of average assets under management, covering fund management and operational costs.
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