5 valuable gifts you can give your sister this Raksha Bandhan
Let’s check out which five are the valuable gifts that you can give to your sister on this Raksha Bandhan.
August 27, 2018 / 08:48 AM IST
Raksha Bandhan is a special occasion for brothers to shower their sisters with affection. This Raksha Bandhan you could give your sister gifts that she will cherish in the future. Let’s check out five such valuable gifts that you can give your sister on this Raksha Bandhan.
Investment in a mutual fund scheme in your sister’s name could be a good gift option. Not only can it prove to be a fast-appreciating asset, it can also help your sister learn about mutual fund investing, and how it can help her achieve various financial objectives. By initiating the mutual fund investment, you can also guide your sister about growing her money through the systematic investment plan (SIP) mode. A mutual fund investment can give attractive returns and also inculcate investment discipline in the long term.
If you are looking for a safe investment gift, then a fixed deposit (FD) is a good option. The prevailing interest rate on a bank FD ranges from around 6 percent to 8.25 percent. Some NBFCs offer slightly higher returns. If your sister’s age is close to the 60s, an FD could be a better choice over an equity investment.
Apart from FD, a liquid fund is another low-risk investment product that you can gift to your sister on this Raksha Bandhan. If your sister is unsure about how she is going to use the fund or if she wants to use the money for a near-term need such as going on a holiday or purchasing property, a liquid fund is a good option. It offers returns similar to an FD, doesn’t have any exit charges, and can be redeemed within a day.
Gold is undoubtedly a cherished gift for women. If you want to gift it to your sister, you have multiple ways to do so. You can be traditional and give it to her in material forms like coin, biscuit, jewelry. You can also choose dematerialised forms such as gold ETFs, gold mutual funds, or Sovereign Gold Bond (SGB). Jewelry has great aesthetic value and your sister may like it as a gift. If your sister prefers using or wearing gold, go for physical gold options. But if she’d rather have it as an investment, gifting gold ETFs or SGB may be the smart way. ETFs’ values can be tracked online and they’re very easy to buy or sell on stock exchanges.
While giving a valuable gift such as financial product or investment, try to figure out the financial objectives of your sister and give something which can help her to achieve the objectives on time.(The author is CEO, Bankbazaar)