5 Fabulous Financial Gifts This Raksha Bandhan for Your Sister
Raksha Bandhan is considered as an important festival throughout India as it holds a deep and meaningful value for us. Sister’s blessings are considered as a seal of divine protection for their brothers, which can save them from ill fate or injury. Since ancient times, sisters tied “Rakhis”, a blessed thread that signifies a precious bond between a brother and sister. Raksha Bandhan is also considered a memorable time as a brother showers her sister with gifts and shares sweets with the family. This year, you can take a step further and ensure her bright future by investing in a Financial Gift.
Gold jewellery has always been considered a very precious and prestigious gift in India. While it is precious, there is also an established belief that gold prices are always stable and rise in a progressive manner. Gold Jewellery will also be useful for your sister when she eventually wants to marry or faces any financial problems.
Set Up a Savings Account
A brother is not only supposed to be a protector, but also the one who guides her sister to live a happier life. One of the ways you as a brother can do that, is to help her set up savings account with a deposit. By helping her to start off her savings, you inculcate a habit of timely savings, so she can fulfil all her dreams.
Managing money is important when you become an adult, because you have to manage both incomes and expenses on your own. While it can be challenging at first, the best way is to set financial goals and invest in a savings plan that helps you achieve them. Green FDs are the type of Fixed Deposits that allow you to set your investments according to sustainable financial goals.
Recurring Deposits are a type of term deposits through which you can regularly deposit a specific amount for a limited tenure. By making a regular deposit for your sister, she can earn interest income, thereby multiplying her pool of wealth for her future.
Systematic Investment Plans (SIPs) are a way to invest in mutual funds that do not require much investment to start and are easy to maintain. When you set up a SIP for your sister, you can easily manage payments through flexibility of amount and tenure. Through SIPs, your sister can enjoy the fruits of your investment and live her life to the fullest.
You can also think about taking a Personal Loan for your sisters marriage.