The open-ended equity linked tax saving scheme aims at providing long-term capital appreciation by investing predominantly in a portfolio of equity and equity related securities. The minimum subscription amount for the scheme would be Rs 500 with additional amounts in multiples of Rs 500 thereof. The face value of the unit is Rs 10. There is a mandatory lock-in period of 3 years from the date of allotment before the units of the scheme could be surrendered for repurchase/redemptions at the applicable net asset value (NAV) on a day-to-day basis. The unitholders could switch their investment to other open-end schemes managed by Credit Capital Asset Management Company at NAV related prices after the lock-in-period of 3 years.