Tip : Invest only in direct plan (D) of any mutual fund. The returns would be higher as compare to regular plan :-)

I. Equity Funds

Fund Name Annual Returns (5y) Fund Class
HDFC Top 100 Fund Growth 15.3% Large Cap
ICICI Prudential Value Discovery Fund (G) 17.3% Diversified Equity
Franklin India Prima Fund (G) 20.8% Mid Cap
HDFC Mid-Cap Opportunities Fund Growth 20.5% Mid Cap
Franklin India Equity Fund Growth 16.4% Multi-Cap
Equity mutual funds are more suitable for creating wealth over long term.
High Risk

II. Tax Saving Funds (ELSS)

Fund Name Annual Returns (5y) Fund Class
Axis Long Term Equity Fund (G) 18.4% ELSS
Franklin India Tax Shield (G) 16.2% ELSS
You will get tax benefits for investing in ELSS funds, under section 80C, upto 1.5L in a FY.
High Risk

III. Debt Funds

Fund Name Annual Returns (5y) Fund Class
Franklin India Ultra Short Bond Fund SI (G) 9.3% Ultra Short Term Debt
ICICI Prudential Gilt Fund Growth 9.8% Government Bond
HDFC Liquid Fund Growth 7.7% Liquid
Debt mutual funds are good alternative to fixed deposits.
Low Risk

Notice : I do not receive any "payment" or "fee" for listing the funds above. It's solely based on my own analysis and, these are the funds I've invested myself.