homepersonal finance NewsChristmas 2022 — 5 financial gifts you can give to your loved ones

Christmas 2022 — 5 financial gifts you can give to your loved ones

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By Anshul  Dec 24, 2022 4:10:03 PM IST (Published)

Christmas is an opportunity to bring a smile to someone's face by becoming their Santa Claus. Here are some of the financial gifts one can try:

Christmas is the season of "giving" to spread love and cheer! While people prefer giving chocolates, sweets, dry fruits, cards, X-mas tree, this year you can opt for thoughtful 'gifts' that can make a lasting impact on your loved ones.

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Here are some of the financial gifts one can try:
Health Insurance
As per the current scenario, buying a health insurance policy for someone can serve as one of the best financial gifts. While advancements in medical science have increased life expectancy, medical costs have skyrocketed too.
Having health insurance means the loved ones will not have to worry about the best medical care when needed without getting their savings drained.
Digital gold
Gold has always been a mark of wealth, looked up to as a safe haven in times of economic uncertainties, and served to be an effective portfolio diversifier. It has always occupied a distinguished emotional value in the hearts of millions of Indians, passed on to generations, and gone on to strengthened family bonds.
This Christmas, instead of gifting physical gold (bars, coins, jewelry) to children or spouse, individuals can consider gifting gold in the form of Sovereign Gold Bond, Gold ETFs and/or a gold saving fund.
Fixed Deposit (FD)
Fixed deposit is an ideal option for anyone who is not keen on investing in market-linked avenues. Being the safest investment, this can be a good gift. One can easily open a fixed deposit account online.
Mutual Funds (MFs)
Mutual fund via Systematic Investment Plan (SIP) route allows one to periodically save money in a structured manner with an opportunity to earn returns. Hence, it’s a good idea to gift a mutual fund SIP to loved ones.
These days, it has become very easy to go online and invest in mutual funds. One can give a start by offering to pay the first few installments of the SIP.
Gift cards
Gift cards are prepaid cards offered by banks and widely accepted at different merchandise outlets and online shopping portals. One can buy gift cards and add the money value as per the choice and gift anyone
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