Brother or sister, both look forward to the feast of salvation. On this day the brothers build a rakhi and promise to protect their sister from all kinds of challenges. With this Raksha Bandhan, you can give your sister a lifetime financial security. Let us understand how.
SIP: To secure the sister’s future, you can gift a Systematic Investment Plan (SIP). You can start investing Rs 500 in SIP. This investment can be further increased. In this, investors take advantage of the compounding of interest. Banks also offer the option of automatic monthly deduction from the account for SIP.
Gold Bond: Under the Sovereign Gold Bond scheme, you can buy gold for your sister. This gold is not physical but in the form of bonds. The RBI has fixed the price of bond-based gold. Usually this gold is cheaper than physical. A person can buy a maximum of 500 grams of gold bonds in a financial year.
Multibagger Stack: Multibagger stocks performed well during the Corona. Many companies have made investors rich in a year. That is, you can also buy stock in gifts for a sister after consulting with an expert.
PPF Account: You can open a Public Futures Fund (PPF) account in your sister’s name. You have to pay a minimum of Rs 500 in a PPF account. Can invest. Interest on this account was also obtained from the government. At the same time, there is a lock-in period of 15 years.
HDFC Bank warns customers that these services will remain closed for 18 hours
FD: A fixed deposit for a sister is also a good option. Interest is paid on bank FD. Although interest rates on FD have been reduced over the past few years, this is the general public’s choice for the future.