Equity Linked Savings Scheme (ELSS) funds offer tax benefits up to Rs 1.50 lakh under Section 80C with a three-year lock-in period. Some ELSS funds have provided over 17% annualized returns in the last decade, outperforming the Nifty 50. Quant ELSS Tax Saver Fund stands out with 25.14% returns, turning a Rs 1 lakh investment into nearly 10X in 10 years. Other top performers include Bank of India ELSS, Bandhan ELSS, DSP ELSS, JM ELSS, Kotak ELSS, and SBI Long Term Equity Fund.