5 Financial Gifts To Give Your Sister On Raksha Bandhan

For Raksha Bandhan, there could be many instant gifts ranging from smartphones to laptops to expensive clothes, that brothers might be thinking of giving his sister. But along with these gifts, there is also another gift that will give long term financial coverage, financial independence, financial confidence, and financial freedom to the sister. Check out four financial gifts that a brother can give to his sister on Raksha Bandhan

Life is uncertain but a proper health insurance can go a long way. To protect your sister from unprecedented times, you may gift her health insurance which covers temporary and terminal ailments, injuries and sound boarding her from sudden, huge medical expenditures. That said, the health insurance should have a thorough cover so that she can be protected from the distress of hefty medical bills. 

Instead of jewellery, cars, you can also gift her a financial asset like stocks, mutual funds, Sovereign Gold Bonds (SGBs), gold saving funds, or gold ETFs which in the future can give her brilliant returns over the long run. In this way, you can easily give high-return equity stocks that can earn her good yields in the long run.

This Rakhi, you can gift your sister a SIP or Systematic Investment Plan which can be considered as the best investment instrument. You have to invest an amount of just Rs 500 every month for a period of 10 years and you can easily expect a decent return. This amount can be used for her solo trip, education and other important functions.

Post Offices in India don’t just deliver Rakhis. They offer attractive investment options too in the form of Monthly Income Schemes (MIS), which guarantee a fixed monthly income. The maximum investment is Rs 9 lakh per person and the minimum investment is Rs. 1,000. This can be a great gift to a sister in college or school who needs regular monthly income for studies, tuitions, books, etc.

This Rakhi you can promise to invest in her which basically means in her hobbies, interests, education and financial well-being. You can further motivate her to read up about financial planning by gifting her books and learning subscriptions so that eventually becomes financially literate and confident.