ELSS stands for Equity Linked Savings Scheme. It is a type of mutual fund scheme where most of the fund corpus is invested in equities or equity-related products, therefore, there are some risk carried in ELSS. However, research suggests that ELSS has given positive returns over a longer period of time. And ELSS has the shortest lock-in period as compared to other instruments (PPF- 15 years, NSC- 6 years). This probably explained why ELSS is one of the most popular and attractive instruments for investment.