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- Raksha Bandhan 2024 Financial Gift Ideas; SIP Investment | Health Insurance Policy
18 minutes agoAuthor: Sandeep Singh
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Raksha Bandhan is a popular festival of India, which symbolizes the unbreakable bond between brother and sister. On this special day, sisters tie a Raksha Sutra on their brother’s wrist.
On Raksha Bandhan, brothers give their sisters their favorite gift or shagun and promise to always protect them. Have you thought about what you are gifting your sister this Rakhi?
If not, then why not give your sister a special gift this Rakshabandhan, which will not only secure her present but also her future.
This will not only make your sister financially strong, but will also enable her to take care of herself in the future.
so today news of need I will talk about how brothers can help their sisters secure their future on Raksha Bandhan. Also, we will know that-
- Which government schemes can women avail?
Question: What help can brothers provide for their sisters’ financial security on Raksha Bandhan?
answer- Raksha Bandhan is a special occasion of bonding between brothers and sisters. There can be no better day than Raksha Bandhan to secure your sister’s future through financial security.
Financial gifts are not only meaningful but also practical. Through this, you can help your sister invest and grow her wealth over time.
The graphic below gives some suggestions that brothers can give to their sisters as gifts on this Rakshabandhan. You can choose any one of these as per your ability, which is best for you and your sister.
Let us understand these points given in the above graphic in detail.
Get health insurance in your sister’s name
In today’s time, hospital expenses in case of any health problem break everyone’s back. In such a situation, it has become more important to take health insurance. On this Rakshabandhan, you can buy a health insurance policy as a gift for your sister, which will be useful for her in case of emergency. While choosing a health policy, keep in mind that the policy covers treatment including doctor consultation, hospitalization, medicine expenses along with cashless treatment.
Open a savings account to deposit your savings
As a Rakshabandhan gift, you can open a savings bank account for your sister. You can deposit savings in a savings account keeping in mind future needs. Not only is the money safe in this, but the bank also gives interest on the deposit amount. However, the interest rate of all banks is different. This money can be used during any need.
Get an FD or RD done in the name of your sister
Fixed Deposit (FD) is a traditional and popular way of investing. It is an extremely low-risk investment option,
In which a lump sum amount is deposited in the bank. After completion of the tenure, you get the invested amount and compound interest. So if you are looking for a low-risk investment method to gift your sister, then FD can be a great option.
If you do not have a lump sum amount, you can open an RD (Recurring Deposit) account for your sister. This is a kind of piggy bank in which you can deposit money in installments every month.
Invest in SIP
Systematic Investment Plan i.e. SIP is a safe way to invest in mutual funds regularly. You can give a wonderful gift to your sister on Rakshabandhan by investing in mutual funds through SIP.
By starting a SIP for your sister, you can help her by investing a fixed amount in her name at a regular interval like monthly or quarterly, thereby securing her future.
Gold or digital gold is better option
- You can gift gold jewellery to your sister on the festival of Rakshabandhan. Traditional gifts of gold and silver are still as relevant. But now with the changing technology, the way of buying gold has also changed. Now you can also buy digital gold i.e. gold online.
- There is no fear of theft in this. Also, you can start investing in it with just Rs 1. Customers can sell digital gold whenever they need it.
- However even today when it comes to long term investments buying normal gold is the best way to invest money.
- Overall, by gifting gold to your sister you are not only giving her a beautiful jewellery but also securing her future.
- Apart from this, various schemes are being run for women by the Central Government and State Governments.
- The aim of these schemes is to make women self-reliant and empowered. Government schemes are considered better for investment because they provide good profits without any risk. These schemes are made keeping in mind the middle class and economically weaker families.
- On the occasion of Raksha Bandhan, brothers can make their sisters aware about these schemes.
Understand from the graphic given below.
Mahila Samman Savings Certificate Scheme
Any girl or woman above 18 years of age can open an account under this scheme. This account can be opened by visiting the post office. However, many banks also provide the facility to open this account. Rs 1000 to Rs 2 lakh can be deposited in this account. The Mahila Samman Savings Certificate Scheme is offering an annual fixed interest of 7.50%.
‘Stand Up India’ Scheme
The loan scheme ‘Stand Up India’ launched for women provides loans up to Rs 1 crore on easy terms. However, this offer is for those starting a business for the first time. Its interest rate will be the lowest applicable rate in the loan segment of this category. To apply for this scheme, the age must be above 18 years.
Ayushman Bharat Prime Minister Public Health Scheme
In today’s time, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana has been started by the Central Government to provide relief from the burden of increasing medical expenses.
Under this scheme, the poor and needy people of the country are given the facility of free treatment up to Rs 5 lakh. For this, Ayushman card has to be made. By showing this card, one can get free treatment in any listed government and private hospital in the country.
According to the latest data from the Health Ministry, women constitute 49 per cent of the total population benefiting from the health insurance scheme.
Sukanya Samriddhi Scheme
Post Office’s Sukanya Samriddhi Yojana can prove to be a good savings scheme for the future of daughters. This scheme gives an annual interest of 8.2 percent. If you invest well in this scheme, you can get a return of up to Rs 1 crore, which can help you collect a good amount of funds for the future.
