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Diwali 2021: Check out key financial gifts for your loved ones

Diwali 2021: Check out key financial gifts for your loved ones

Diwali 2021: Check out key financial gifts for your loved ones
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By Anshul  Nov 3, 2021 8:07:19 AM IST (Published)

While people prefer giving dry fruits, sweets, chocolates, gadgets and clothes, one can try to be a little different this Diwali by giving financial gifts that will secure the future of loved ones.

Sharing gifts on festivals like Diwali and Dhanteras is an age-old tradition. While people prefer giving dry fruits, sweets, chocolates, gadgets and clothes, one can try to be a little different this Diwali by giving financial gifts that will secure the future of loved ones.

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Here are some of the financial gifts one can give this Diwali:
Shares/Stocks
Gifting shares/stocks is a good idea, say experts. To gift shares, however, the receiver must have a demat account.
The best part is that one can transfer stocks directly to the recipient's demat account after sending an instruction. It's important to note that equity investments have the potential to grow manifold with time if done with proper research.
Mutual Fund SIP
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 one’s this Diwali.
One can give a start by offering to pay the first few installments of the SIP.  However, one needs to note that these gifts are taxable, hence he/she should be aware of tax liability before gifting or contributing to SIP.
Health Insurance
While advancements in medical science have increased life expectancy, the medical costs have skyrocketed too. Hence, one can gift a health insurance policy to anyone. Having health insurance means the loved ones will not have to worry about the best medical care when needed without getting their savings drained.
Sovereign gold bond (SGB)
Buying gold is considered auspicious during Diwali. So, one can gift gold bonds to their loved ones.
The Reserve Bank of India (RBI) issues SGBs multiple times in a year and fixes a price for each issuance. Users can also buy or sell SGBs in the secondary market.
Fixed Deposit
Fixed deposits are an ideal option for anyone who is not keen on investing in market-linked avenues. One can easily open an fixed deposit account online.
Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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