BackRaksha Bandhan 2023: From SIPs to Gold ETFs to green FDs. List of financial gifts you can give your sister this Rakhi
Raksha Bandhan 2023: Financial gifts for sisters include SIPs, health insurance, savings accounts, digital gold, and stocks
PremiumRaksha Bandhan holds a significant place in India. This cherished occasion involves sisters tying ‘Rakhis’, a sacred thread around their brothers' wrists, and they in turn generously shower their sisters with gifts, ranging from cash, accessories, jewelry, smartphones, cosmetics, clothes, and the list goes on and on. While gift-giving is a customary part of Raksha Bandhan, let's explore an array of financial goods that can be gifted to sisters, ensuring their financial security and prosperity this year.
List of Financial gifts you can give your sister this Rakhi
1)Systematic Investment Plan (SIP)
SIPs provide an efficient way to invest in Mutual Funds systematically. “SIPs are a powerful tool for achieving financial goals enabling brothers to contribute to their sisters' aspirations, be it travel, business endeavors, or other ambitions," said Amit Gupta, MD, SAG Infotech.
2) Health insurance policy
Other thoughtful options include obtaining a comprehensive health insurance policy. You can also pay a premium for a health insurance policy on your sister’s behalf to protect her from uncertainties.
3) Setting up a savings bank account or Demat account
4) Digital gold
Instead of gifting physical gold, digital gold is another option to gift to your sibling.
5) Gold ETFs
Investing in paper gold through ETFs or gold savings accounts, said Amit Gupta.
Also Read: Thinking of gifting Bitcoin, Ether to your sister? Key things you should know
6) Debt instruments
According to Gupta, exploring green Fixed Deposits (FDs) or Recurring Deposits
“These financial presents not only hold the potential to secure sisters' financial futures but also empower them to make informed financial decisions," added Gupta.
7) Stocks
Gifting stocks is also a good idea. You can gift stocks of blue chip companies with long-term investment in focus
Raksha Bandhan is a unique opportunity to transcend traditional gifts and present sisters with offerings that resonate on a long-term, practical level. By considering financial gifts that range from SIPs to medical insurance, brothers can foster their sisters' financial independence and security.
Also Read: Is gifting cash to your sister taxable? Income tax rules explained here
When is Raksha Bandhan? August 30 or 31? Timings, Shubh muhurat here
As siblings gear up to celebrate the unique bonding of the brother-sister festival Raksha Bandhan 2023, there is confusion around the date and timing of the same.
According to Drik Panchang, Rakhi falls on August 30. However, because of Bhadra Kaal, you can also tie Rakhi on August 31. This year, the Raksha Bandhan Bhadra Poonch will last from 5:30 pm to 6:31 pm on August 30, and the Raksha Bandhan Bhadra Mukha will begin at 6:31 pm and end at 8:11 pm on August 30. Therefore, the Raksha Bandhan Bhadra end time will be at 9:01 pm.
Disclaimer: The views and recommendations made above are those of individual analysts, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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