Raksha Bandhan 2024: Rather than a traditional gift you can secure your sister’s future by buying financial instruments for her.
Raksha Bandhan 2024: Raksha Bandhan is one of the biggest Indian festivals celebrated across different parts of the country, where sisters tie ‘Rakhis’ around their brothers’ wrists. Brothers give them different gifts like cash, dresses or jewelry. Rather than following these traditional ways of gifting your sister, you can also try out a modern approach this year. You can think of giving financial gifts to your sister and securing her future.
These gifts can be there with her for a longer term and she can utilize them during the time of emergency.
6 Financial Gifts For Sister Over Rakshabandhan
Savings Bonds: Savings bonds offer a guaranteed return on your investment, so in case your sister has some plan in near short term or long term, you can buy the ‘Saving Bonds’ and choose a tenure as per her requirements.
Fixed Deposits: FDs have different tenure from 7 Days to 6 months to several years. FDs mention fixed rate of return ac per tenure chosen by you when you buy them. As per your sisters’ needs you can plan to buy FDs with the highest rate of return.
Mutual Funds: There are multiple Mutual Fund schemes available in the market offered by various Asset companies, they are bifurcated in Small Cap, Mid Cap & Large Cap. You can start a Systematic Investment Plan i.e. SIP or Lump-Sum i.e. depositing one specific amount of money for a specific time period. Also note that Mutual Funds are subject to market risk.
Gold Bonds: Rather than gifting a traditional jewelry, you can also gift a Gold Bond to your sister. Digital gold is a modern and convenient way to invest in gold. In this investment option risk of storing a physical Gold will be reduced & your sister will also have the option to realise the Gold Bond whenever she wants. The benefit over here is that she will get full market price as per the Gold rate at the time of maturity and she can make a jwellery as per her choice.
Stocks: You can research about a specific company and decide if you want to buy a stock of that company for your sister. Though Equity gives high return in the longer term, the risk of losses is equally high. So always take market expert advice before gifting stocks to your sister.
Gold Coins: Gold coins with different designs of god, goddess are popular in India. These coins are usually available in 1 gram to 10 grams. You can buy it for your sister which she can keep it with herself and later on sale or make another jwellery item one Gold rates increases over the period of time.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)