As Raksha Bandhan approaches next week, brothers are planning what to give their lovely sisters as a gift. In India, it is customary to give money on special occasions, and Raksha Bandhan is a prime example. On this auspicious event, a brother gives money to his sister and promises to protect her.
However, apart from cash money or other gifts, there are certain financial gifts that you can give to your sister this Raksha Bandhan.
Raksha Bandhan 2024 financial gifts
Gift Gold Coin
In India, gifting gold jewelry is a tradition. However, gold coins can be beautiful and lasting gifts for your sister, that will appreciated over time.
Gift Mutual Funds
You can invest in mutual funds through a lump sum systematic transfer plan (STP) or a systematic investment plan (SIP). Mutual funds/SIPs offer attractive returns. It will not only help your sister in making more money but also offer an opportunity for her to gain knowledge about investments.
If you invest in mutual funds on a regular basis, you can transfer some units to your sister’s name.
To transfer mutual fund units, both the sender and the recipient must have demat accounts, and the mutual fund units must also be demat. If you want to transfer mutual fund units inside the same DP, go to your DP account and enter the beneficiary owner (BO) ID of the recipient. After the DP confirms the receiver, you can begin transferring mutual fund units.
Gift ETF
You can also gift ETF shares to your sister, transferring them from your brokerage account. You can use an online gifting platform or directly transfer ETF shares through an ETF issuer.
Gift PPF
The Public Provident Fund (PPF) is another option to try, as it is one of the most secure and dependable ways to assist your sister establish a sizable retirement fund.
