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Give the Gift of Financial Security to Your Sister This Raksha Bandhan
Raksha Bandhan, a cherished festival in India, celebrates the unbreakable bond between a brother and sister. On this special day, the sister ties Rakhi on her brother's wrist to remind him about his responsibility to protect her. The brother, in turn, swears to protect her under all circumstances and by all means.
Table of Content
- Digital or Paper Gold
- Gold Jewellery
- SIP (Systematic Investment Plan)
- Mutual Funds or Stocks
- Fixed Deposit (FD)
- Health Insurance
- Financial Literacy
Now that Raksha Bandhan is just around the corner, it’s time that the brothers show their love and protection for their sister. And what better way to do that than by giving them gifts that can secure their future? While watches, clothes, or bags, may have their importance, by giving your sister a gift that financially secures her future, you can ensure she is prepared for any uncertainty and has a stable foundation for her future endeavours.
To help you make the right choice, here are 7 best gift ideas that can help secure your sister’s financial future this Raksha Bandhan:
Digital or Paper Gold
Instead of giving physical gold jewellery, such as a bracelet, necklace, or ring, to your sister, consider gifting her digital or paper gold. Digital gold refers to a digital investment platform that allows you to buy, sell, and hold gold electronically. By buying digital gold for your sister, you eliminate the worry about storage and security that comes with physical gold. They also offer high liquidity, allowing your sister to convert her holding into cash whenever necessary.
Another great investment opportunity is Gold ETFs. They are open-ended funds that follow gold prices. Each unit of gold you purchase in the ETF is equivalent to 1 gram of gold.
Gold Jewellery
While digital gold offers convenience and security, buying physical gold as an investment has its own advantages. Unlike digital gold, physical gold allows you to borrow large amounts of money through gold loans and that too at reasonable interest rates. Additionally, when it comes to long-term investments, buying physical gold is the best way to invest money. Overall, by gifting your sister a piece of gold jewellery, you are not only giving her a beautiful accessory, but a valuable asset that can secure her future.
SIP (Systematic Investment Plan)
A systematic investment plan or SIP is a safe and disciplined way of investing in mutual funds regularly. So, as a brother, you can find the best sip plan for the long term and help your sister invest a fixed amount of money regularly, monthly or annually. With time, the power of compounding will significantly grow her investment return, securing her future.
Mutual Funds or Stocks
Mutual funds investments make for an excellent Raksha Bandhan gift to secure your sister's financial future. Consider investing in stocks or mutual funds on her behalf. This can be a great way to introduce her to the world of investing and help her build wealth over the long term.
Fixed Deposit (FD)
A traditional, yet popular way of investing in India is Fixed Deposit. Fixed deposits or FDs are a low-risk investment option, where you put a lump sum in your bank for a fixed tenure at an agreed-upon interest rate. After the tenure is completed, you get the amount you invested plus the compounded interest. So, if you are looking for low-risk investment opportunities to gift your sister, an FD could be it, offering you guaranteed returns.
Health Insurance
With the rise of healthcare expenses, it has become more crucial than ever to have health insurance. So, this Raksha Bandhan, consider giving your sister the financial security and peace of mind that comes with a robust health insurance plan. With health insurance, your sister will have access to quality healthcare whenever necessary, without having to worry about the burden of medical expenses. You can also opt for insurance with a comprehensive plan that covers a range of medical expenses including hospitalization, doctor consultations, and medication.
Financial Literacy
Knowledge is the best gift you can give to anyone. This Raksha Bandhan, consider educating your sister about basic financial concepts like understanding taxes, budgeting, and managing credits. Also, introduce her to the concept of a diversified investment portfolio including stocks, mutual funds, and more. By equipping your sister with financial literacy, you enable her to make more informed financial decisions in future.
The listed above are some of the thoughtful gifts you can consider giving your sister this Raksha Bandhan. Remember that incorporating financial security into the Raksha Bandhan traditions does not diminish its traditional importance. In fact, it demonstrates your deep love and commitment to ensuring that your sister’s future is safe and secure.
Meanwhile, if you are someone looking for a gold loan to fulfil your sister’s wishes this Raksha Bandhan, consider gold loans by Muthoot Finance. From competitive interest rates and minimal documentation to fast disbursement, gold loans from Muthoot Finance offer it all.
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