Raksha Bandhan 2020: Top Financial Gifts for Your Sister to Make Her EARN Lifelong

Raksha Bandhan Gifts 2020: It will not be wrong to say that Raksha Bandhan which is popularly known as ‘Rakhi’ is one of the oldest festivals in India. In this festival of Rakhi, the special and unconditional bond of love is celebrated between a brother and a sister. This year Raksha Bandhan will fall on August 3 (Monday). The words ‘Raksha Bandhan’ means ‘the bond of safety and security’ that siblings promise each other, no matter the circumstances.

Now comes, what special gifts should you give to your sister so as to make her festival a more special one. Here we will inform you about the best gifts that a brother can give to her sister. By this we mean financial gifts that gives your sister financial freedom lifelong.

Top Financial Gifts for Your Sister this Raksha Bandhan 2020:

1. Savings Account for your sister:

Yes, you can open a savings account for your sister on this joyous festival. You can even deposit a certain amount of money that you wish to give her. This money will earn her interest which can be used when she needs it.

2. Fixed Deposit (FD) or Recurring Deposit (RD):

You can make a FD in your sister’s name. By this she will earn a guaranteed and better interest rate than a savings account. You can also invest a small amount every month & can do a recurring deposit (RD) with the bank for her, if you want.

3. Systematic Investment Plan (SIP):

You can start an SIP in a mutual fund for your sister and can invest a fixed amount on a regular basis for as many years as you want. Adding to it, you can choose to invest through SIP in equity or a debt fund, depending on your risk appetite. First, consult your financial advisor if you have limited or no knowledge of mutual funds.

4. No Gold Jewellery, Yes to Paper Gold:

You can buy your sister paper gold, instead of gold jewellery. You can buy your sister Gold ETFs. These are listed on the exchanges and invest in physical gold. Each unit of a Gold ETF represents 1/2 gram of 24 karat physical gold. They give ample liquidity because these can be sold on exchanges anytime.

Remember if you have little knowledge of any of these financial products, then first you should discuss them with your financial planner. Make this Rakhi Special and share your experiences with me.