- Date : 30/08/2023
- Read: 3 mins
Some of the best financial gifts you can invest in for your sister on the occasion of Raksha Bandhan 2023
Raksha Bandhan started. Modern-day brothers reciprocate the sisterly love with gifts of all kinds. But what can be a better way to protect your sister than by protecting her financial future?
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Gifting on Raksha Bandhan is a traditional practice. Cash, jewellery, and consumer products are common choices.
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Financial investments as a Rakhi gift can be a prudent alternative to strengthen your sister's financial future.
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It can be stock gifts, mutual fund investments or a more conservative debt instrument like FD or government bond as a gift.
Financial Raksha Bandhan Gifts For Your Sister
Here are some of the perfect financial investments that you can gift your sister on the occasion of Raksha Bandhan 2023.
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Health Insurance – If, by any chance, your sister is not medically covered, take the time to find one for her. Show that you care and select the best health plan for her and kick-start it with the starting premium. You can rest easy knowing that your sister’s finances are not vulnerable to medical emergencies.
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Virtual Gold – If you think physical gold is too old school, look for non-physical options instead. You can easily buy digital gold for her, or gift her units of a gold ETF or gold mutual fund.
Also Read: Good News: Receive Gifts From Family In The U.S. Tax-Free
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Systematic Investment Plan (SIP) – Mutual fund investment through SIP is convenient, flexible and perfect to meet short and long-term financial goals. If you have a little sister who has just started working, inspire her to follow the growth path by investing in SIP on her behalf.
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Shares – All leading platforms offer the option of gifting the stocks in your Demat account to someone else. You can even gift her a balanced portfolio of shares and guide her on how to accumulate those stocks in the future.
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Deposits – You can make a lump sum investment in a fixed deposit, bond, National Savings Certificate, Public Provident Fund etc. which can add to her wealth. These are sovereign-backed investments that offer an assured return. If you gift one of these investments, it is certain to grow and compound over the years.
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Bank account – If your sister is of tender age, introduce her to the world of finance with a bank account and educate her on how money works. Make an initial deposit and motivate her to adopt the habit of saving her pocket money.
Conclusion
The latest smartphone or a dress can be a striking gift, but you must also think about strengthening your sister’s finances with sound investments. With a financial gift, she will continue to reap the benefits of the investment you made today for years to come!
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Also Read: Think Cash Is Outdated? Here’s What You Can Gift Your Sister This Raksha Bandhan
