6 Top Financial Gifts for your Sister!

Raksha Bandhan is one of the most favorite Hindu festivals where presenting a gift to the sister by brother is a ritual. Besides that, your lovable and pampered sister deserves a special gift not only on Rakhi but on all her important occasions. In the forthcoming Raksha Bandhan when you receive online Rakhi delivery, send one of these financial gifts to your sister to make her feel financially secure.

Financial Gift Ideas

SIP is a Great Gift

The first option as a financial gift to your sister can be SIP or Systematic Investment Plan. It should be of a worthy mutual fund scheme.

SIP in mutual funds can be one of the best financial gifts for your sister and can help her achieve goals of an exotic vacation, purchasing a dream car, wedding etc. You can start investing in SIP with as low an amount as 500 to 1,000 a month and can increase the same gradually. It is important to note that mutual funds are prone to market risks and hence you should have mutual funds with a good track record. You can consider investing in large-cap schemes and can accumulate a good amount of wealth gradually for your sister.

Get Her Medical Insurance Policy

Rise in threat to health has grown tremendously ever since the pandemic. Hence it is very important for anybody to have a health insurance policy covering the cost of healthcare. This can be a great financial gift to your sister which can cater to her needs during medical emergencies. It is important to make sure that you have read all the features and conditions before choosing the health insurance policy that suits the best needs of your sister.

Considering today’s lifestyle and rising health issues, a health insurance policy will help your sister get good timely medical treatment, without any hassles or worry about medical bills. You can buy a health insurance plan if she doesn’t have one; or you may renew her existing health insurance plan if she already has one.

Make sure to evaluate all the conditions and features before selecting the health insurance policy that best suits your sister’s needs. You can easily purchase medical insurance online within a few minutes.

Open a Saving Account

You can choose to open a saving account in the name of your sister where she can make deposits. Instead of giving her cash on hand, you should deposit some cash in the bank account. This will help her become more independent and she will begin to save regularly. Introduce her to online banking and guide her about how to shop online and make purchases using e-wallets.

Secretly Clear off Her Debt Burden

If your sister is under debt and stressed about it, you can pay off her debt burden secretly and let her know afterward. This can prove to be a memorable gift indeed and your sister is sure to thank you for this from the bottom of her heart. It is far better to make her feel stress-free by paying off her burden than giving her ultra-expensive materialistic gifts.

Investing in Gold Mutual Funds

Gold is a very important asset and it is considered as a very auspicious gift also. You can gift the same to your beloved sister. Gold is a safe investment and the value of gold is increasing with every passing year. Also, it is always better to invest in gold mutual funds and gold ETFs instead of gifting her physical gold directly; you can choose gold mutual funds and ETFs in her name. These paper gold investment avenues are efficient ways for investing in gold. Doing so will enable you to secure her financial future.

Gold is a very popular asset class in India and is considered as a most auspicious gift on such occasions. So, gifting your beloved sister a gold this Raksha Bandhan is a very good idea, as the value of the gold keeps increasing with time. How about instead of gifting her physical gold, you invest in gold ETFs and/or gold mutual funds in her name. Gifting her physical gold carriers has a number of hassles like high holding costs, making charges and storage risks etc.

So, in the coming Raksha Bandhan when you receive online rakhi delivery from your sister, do not jump into giving her a gift. Instead, you should consider securing her future and making her feel financially independent by presenting her a financial gift.