In a matter of days, the glee of festivals will be upon everyone, as Raksha Bandhan marks the renewed bond of protection and blessings that a sister bestows on her brother. In turn, a brother showers her with gifts and promises to be a watchful guard for her. The celebration of Raksha Bandhan has been an ancient tradition in India that has spread throughout different cultures and is still relevant today. Furthermore, this festival also holds a higher place in people’s hearts as it upholds family relations and traditional values.
While every Raksha Bandhan, you may have chosen gifts like chocolates, toys, or an expensive mobile phone, this Rakhi, gift her something that will help her be financially independent and will protect her in future. A financial investment is an invaluable gift that can help your sister for years to come. Furthermore, it will also help her sponsor her studies and other important investments later in her life.
These are some of the financial investments you can gift your sister this Raksha Bandhan:
Fixed Deposits are an extremely reliable investment alternative that allow you to set aside an amount of money for a specific tenure, through which your sister can receive interest as income. FD for women encourages the habit of savings as they offer fixed returns at a high interest rate. It is considered a good investment option for women because it has become a very flexible way to invest for both long term and short-term returns.
NBFCs provides an 8.4% interest rate on FDs for women which is higher compared to other options available in the market. Furthermore, you can also opt for a non-cumulative FD to avail the benefits of regular payouts at a weekly or monthly basis.
This type of an investment ensures that your sister receives a definite income at regular intervals, which can be very useful as she grows up. Financial gifts like fixed deposits ensure that your sister’s financial health is stable as she embarks towards higher education or her career. By offering a wide array of benefits, fixed deposits prove their merit as an ideal gift for your sister this Rakhi.
Systematic Investment Plans
Systematic Investment Plans or SIPs are flexible investment tools wherein you can regularly set aside a specific amount. SIP is a type of mutual fund that invests in equities and provides high returns within a short time period. There are multiple schemes under SIPs according to the tenure and investment amount. By starting an investment fund through SIP, you can consistently help her financially while ensuring a better future for your sister.
In India, gold has been accepted traditionally as an excellent long-term investment. It is considered appropriate because it has multiple benefits for everyone, especially for your sister. As gold prices are stable in the long run, the returns are definite. Furthermore, when it is finally time for your sister to get married, she can get gold ornaments made as well. There are also gold ETFs available for investment that allow you the benefits of gold investment and the safety of not having to hold on to gold physically.
Health Insurance Plans
A brother always looks out for his sister through thick and thin. Taking care of her emergency health expenses or paying for her dental bills can be the sweetest thing you can do for your sister. As a brother, investing in a health insurance plan is easy and only requires you to pay a certain premium at regular intervals.