Receiving a gift brings an instant smile to our faces. The person who sends it echoes the same reaction. Raksha Bandhan 2024 is around the corner, and many of us are stepping out of our homes to pick the perfect Rakhis and buy sweets and gifts for our siblings. As the tradition of tying Rakhis and exchanging gifts continues, it is also time to make a few changes that will ensure good health and overall well-being for our near and dear ones. As a brother, one of the most considerate rakhi gifts you can give your sister is something that will secure her future. How, you might wonder, by giving your beloved sister financial gifts? Financial assets are not just a gift but an investment in her long-term well-being.
Raksha Bandhan Gift Ideas
While there are countless personalised gift options, it is essential to select the one that promises long-term benefits and happiness for your loved ones. So, here are the best Raksha Bandhan gift ideas for your sisters that you can choose this festive season.
Mutual Funds
Mutual funds are an investment option preferred by many individuals as a gift for Raksha Bandhan. It is a great way to introduce your sister to the world of investing. They offer the potential for higher returns over time as compared to traditional savings methods. You can start with a Systematic Investment Plan (SIP), where a fixed amount is invested regularly. It is a disciplined and manageable investment option to make her wealth grow.
Fixed Deposits (FDs)
Gifting your sister an FD is a simple yet effective way to help her save for future expenses, be it education, marriage, or any other significant life event. It is a traditional yet solid investment option. FDs offer guaranteed returns over a fixed period, making them a safe investment bet for those who prefer stability over risk. Many banks also offer special schemes for women with higher interest rates.
Public Provident Fund (PPF)
The Public Provident Fund (PPF) is the safest and most reliable option to help your sister build a substantial corpus for the future. It is a long-term savings instrument that offers tax-free returns, making it an excellent option for financial security for your sibling. It has a maturity period of 15 years and regular contributions, and the power of compounding will ensure her investment grows steadily over time.
Sovereign Gold Bonds (SGBs)
If your sister loves gold, consider gifting her Sovereign Gold Bonds (SGBs) instead of physical gold. They offer the safety and assurance of government backing and come with an interest component. Unlike traditional gold, these bonds are free from storage hassles and risks. Additionally, on maturity, these bonds can be redeemed at the prevailing gold price, potentially yielding significant returns.
Digital Gold
In the digital era, even gold has gone online. Gifting digital gold to your sister allows her to invest in a small amount of gold without worrying about the purity, safety, or storage that comes with physical gold. It’s a modern, convenient, and flexible way to gift gold, and your sister can convert it into physical gold whenever she desires.
National Pension System (NPS)
If your sister is planning for retirement, the National Pension System (NPS) can be a great choice. It is a government-backed retirement savings scheme that offers tax benefits and helps build a retirement corpus. With NPS, she can invest in a mix of equity, corporate bonds, and government securities. Hence, making it a thoughtful gift, ensuring she has a comfortable and secure retirement.
Shares
This Raksha Bandhan gift could be your sister’s gateway to understanding the stock market and building wealth over time. By owning shares, she will have a stake in a company, and depending on the company’s performance, her investment can increase significantly over time. Choose shares of well-established companies with a track record of steady growth or those in emerging sectors that have high potential. For this, you both should have a demat account and must be aware of the right procedure.
Also, gifting shares, mutual funds, or other investible securities is tax-free for both the receiver and the sender.
Health Insurance
Health is wealth in today’s world. Gifting health insurance to your sister will ensure that your sibling has access to quality and affordable medical care. Particularly in times when there is a serious health risk before us due to the outbreak of the coronavirus pandemic, medical insurance is the ultimate safety cover that will protect a family. It would give your sibling the financial security to lead a worry-free life despite the uncertainties.
Medical insurance is a perfect gift option for your sister or brother, as it will provide them with financial security during unexpected medical emergencies. It gives the insured person adequate coverage, so there is a minimum burden on savings.
Send your wishes and blessings to your siblings this Raksha Bandhan, and buy a Health Insurance policy to protect their health. Visit the Care Health Insurance website to learn about the features of various policies like maternity health insurance, comprehensive health insurance, and senior citizen health insurance.
Education Fund
Consider investing in your sister’s education, as it is an invaluable gift that opens doors to numerous opportunities. Whether it’s a course she’s planning to take, a certification that can boost her career, or even a fund for future higher education. Ultimately, Ccontributing to her educational growth will yield returns throughout her life. You can either invest in a fixed deposit reserved for her education, an education savings plan, or even directly sponsor a course.
>> Click to Know Choose Health Insurance Gifts for Sister on Rakhi
Savings Account
Opening a savings account in a bank is a safe option and one of the suitable Rakhi gift ideas for a sister. It will fulfil their banking needs and help in building savings for a secure future. Many leading banks offer exclusive savings accounts for women. They offer unique features, including specific discounts, offers, and cashback on transactions. There is a minimum opening deposit, which you can pay on behalf of your sister.
Gift Cards
Gift vouchers are the best choice for this festive occasion. Many leading banks also offer gift cards. These cards are pre-loaded with a certain amount and can be used for buying products or services. They have validity up to a specified date and are secure as there is a unique PIN. Gift cards are an excellent choice to express that you care for your loved ones and give them the financial freedom to buy things they need.
Wrapping Up!
Raksha Bandhan is the perfect opportunity to show your sister how much you care about her future. By choosing to gift financial assets, you’re empowering her with financial security, freedom, and peace of mind. A gift that truly keeps on giving. Whether it’s through mutual fund investments, FDs, health insurance, or educational funds, these gifts are a testament to your lasting bond and your commitment to her well-being.
>> Also Read Rakhi Gifts for Brother that You Can Buy Online
Disclaimer: Plan features, benefits, coverage, and underwriting of claims are subject to policy terms and conditions. Please refer to the brochure, sales prospectus, and policy documents carefully.
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