Home / Money / Personal Finance /  Raksha Bandhan 2022: Financial gifts you can give your sister this Rakhi

Financial freedom is the best gift a brother can give his sister. And what could be a better day than Raksha Bandhan for the same. Raksha Bandhan is one of the most auspicious festivals that celebrates the loving bond between a brother and sister. A sister ties a Rakhi band to her brother's wrist wishing him a healthy and prosperous life ahead. The brother in return gives her gifts as a token of love.

From cash to clothes to gift vouchers to gadgets…the list of gifts given to sisters is unending. However, rather than bestowing gifts that give instant gratification, brother can gift their sisters a much bigger gift that will set her financially free for life.

Here is a list of the top financial products that you can consider gifting your sister on Raksha Bandhan 2022

Fixed Deposit (FD): You can make a fixed deposit (FD) in your sister’s name.

Mutual fund: Mutual fund investment is a great gift for your sister. 

Health insurance plan: You can also pay premium for a health insurance policy on your sister’s behalf to protect her from uncertainties.

Digital gold: Instead of gifting physical gold, digital gold is another option to gift to your sibling.

Stocks: Gifting stocks is also a good idea. You can gift stocks of blue chip company with long term investment in focus. You should discuss with your financial planner if you have little knowledge of this.

Anil Pinapala, CEO & Founder of Vivifi India Finance says financial literacy and strong credit history are the cornerstones of financial freedom. 

“With an intention to enable her to attain financial freedom, he can help her develop financial discipline and learn to make informed financial decisions to eventually attain financial freedom while focussing on her career. An open-ended Line of credit from FlexPay with the most flexible repayment options and no hidden charges can help her to start building a a strong credit profile and a great credit score. Moreover, the line of credit can help her manage personal expenses or pay tuition fees to continue her studies and be prepared for unexpected events without having to worry about financial consequences," Anil said.

Rikant Pittie, Co-Founder, EaseMyTrip says giving a travel credit card with special travel privileges can be the perfect present for this Rakshabandhan. 

“Your loved ones can use this gift to support their long-weekend trip plans. The EaseMyTrip and Standard Chartered Co- Branded Credit Card offers access to year-round quick deals on hotels and flights via the EaseMyTrip website/mobile application," said Rikant Pittie.

“Gift her protection against Black Swan events especially health related by getting her a comprehensive medical health package. Second is to get her started on saving instruments like equity linked Systematic Investment Plans (SIP). SIP in equity which are higher yielding instruments will ensure that her goal of financial freedom is achieved faster. However, the instrument for SIP can be selected based on sister's age," said Vikas Singhania, CEO, TradeSmart.

Raksha Bandhan 2022 date, timings

Raksha Bandhan falls on the full moon day of Shravan. Although, this year people are confused about the day and the auspicious time to celebrate Rakhi. Many people are claiming that Raksha Bandhan is on August 11, while others are saying that it is on August 12.

 

 

ABOUT THE AUTHOR

Sangeeta Ojha

Sangeeta is a Chief Content Producer at Livemint. Writes on personal finance, banking and real estate. She has over 12 years of experience as a journalist with television and digital media
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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