NB In List | 5 financial gifts you can give your sister this Raksha Bandhan

Raksha Bandhan, one of the most auspicious Hindu festivals, is few days away. It is a celebration of bonding between brothers and sisters. This festival is traditionally important reflecting our family values and how brothers and sisters pray for each other’s well-being. This one-day festival is celebrated with sisters tying Rakhi to their brothers. In return, brothers give some gifts or money to their sisters and vow to protect them from all the troubles of the world.

 

However, these days, in fact, many brothers don’t want to give hard cash or token gifts to their sisters. Instead they look for some unique or alternate gifts to give to their loved ones. One such gift being financial gifts.

 

 

 

This could be one of the most relevant financial gifts you can give your sister, and she can continue earning returns on the investment. SIPs provide an efficient way to invest in Mutual Funds systematically. Mutual funds offer diversification and provide healthy returns in the long run. So, choose the best SIP as a gift for your sister or sisters.

 

 

Giving gold jewellery such as a bracelet or chain or ring is a common form of gift women tend to get. But have you ever attempted to explore the ‘not-so-known’ ways of purchasing or investing in gold for yourself or your sister, besides the age-old way of having it as jewellery?

 

Gift your sister Gold ETF, an exchange-traded fund to track the price of gold in the domestic market. It is a passive investment instrument based on gold prices. It is better to buy Gold-ETF as it can easily be traded and stored. Moreover, one doesn’t need to worry about thefts. Instead of gifting physical gold, digital gold is another option to gift to your sibling. You can even tell her to explore Sovereign Gold Bonds (SGB).

 

 

They say Health is wealth! And it's true. If you are concerned for your sister and want to cover her life and health, you can buy her life or health insurance. You can also pay a premium for a health insurance policy on your sister’s behalf to protect her from uncertainties.

 

 

Gifting stocks is also a good idea. You can gift stocks of blue chip companies with long-term investment in focus

 

 

You can make a fixed deposit in the name of your sister. It will provide your sister with financial freedom and give her higher interest than a savings account. She can also use this money as an emergency fund.

 

Raksha Bandhan is the best time to give these useful financial gifts to your sister. However, going through all the pros and cons of these products is advisable before you plan to buy them. Your sister should have easy access to these products, and the financial gift should not become unmanageable for her.