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ELSS Mutual Funds: Before investing, learn about what is ELSS fund, its benefits, how to invest, and other factors in detail. ELSS Mutual Funds - ELSS funds are equity funds which invest a major portion of their corpus into equity or equity-related instruments. To know more about features and tax benefits of ELSS funds at Groww.in and start investing in Direct Mutual Funds for free. ELSS Funds give tax benefits on investment. Know the meaning, working, benefits, types, top funds under Equity Linked Savings Scheme. ELSS stands for Equity Linked Savings Schemes, a type of mutual fund that helps you save income tax. Learn how ELSS funds work, their advantages, and how to invest in them with HDFC Bank.