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Tuesday, November 30, 2021

2021: Give this financial gift to your loved ones in the new year, you will get help at every stage of your age.

 

Families can be financially strengthened by financial gifts.

This year in 2020, there are only two days left. In such a situation, you can give a better gift to your family as a new year gift in 2021. You can give special financial gifts not only for your children but also for your parents, which will give them financial support. Parents can be gifted a pension scheme for their old age this year. Apart from this, such schemes can be gifted to children so that they can get financial support for their future needs like education, business or marriage.

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Corona Armor Policy

Currently the biggest gift may be the corona armor policy. The corona epidemic that has raged around the world has not yet returned to track. Regarding its vaccine, still nothing can be said with certainty. In such a situation, on the new year, your family can be given a health policy related to corona, which can cover the expenses related to it.

Give financial confidence through FD

In the new year, you can give a gift of fixed deposits (FD) to your family. FD has long been a safe option to increase its capital. Families will get about 5 percent interest on investments made in FDs in banks. However, if it seems that interest is getting less in FD, then small finance banks can also consider FDs of banks. Small finance bank is getting about 7-8 per cent interest.

RD: Big returns from small savings

FD is a better investment option but its biggest drawback is that it has to deposit a lump sum. In such a situation, you can give a gift of Recurring Deposits (RD) to your family. In this, large returns can be obtained from small deposits. In this, banks are paying more than 5 percent interest on the investment made and the post office is paying 5.8 percent interest annually.

Give SSY gift to daughter

The central government started Sukanya Samriddhi Yojana under ‘Beti Bachao, Beti Padhao’. Under this, you can start investing in this scheme in the name of your daughter below 10 years. Its maturity period is 21 years or until the girl is married after she is 18 years old. However, the investment has to be done only for 15 years. Currently, 7.6 percent annual interest is being received on the investment made under this scheme.

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PM Vay Vandana Scheme to parents

In the new year, not only your children but you can also give better gifts to parents above 60 years of age. This scheme has been started by the central government and it can be purchased only till 31 March 2023. Under this scheme, the policy holder should be over 60 years of age, that is, if your parents are over 60 years of age, then you can give this gift to them. Under this scheme, if you invest 15 lakhs at the age of 60 in the name of parents, then they will get a pension of Rs 9250 every month at the age of 70 years.

Insurance

You can prepare for any untoward happening in the future today. You can protect your family by giving them the gift of insurance. Health insurance, accidental insurance or any other purpose such as marriage or studies can also be insured for the goal.

mutual fund

Mutual fund is very important while preparing financial plan for long term. Most people are afraid of investing in the stock market because they are afraid of losing capital. Mutual funds are a better option for such people. Investing can be started with a small amount in it, which can become a large amount in the long run. One can understand this with an example. Systematic Investment Plan (SIP) is a method for investing in mutual funds. Now let’s say that you want to collect some units of gold in the near future, such as for children’s wedding time. In such a situation, if you invest in a SIP related to gold, then you can start raising even more than 100-500 rupees and can earn a significant amount of gold in future.
(Note: The facts given above are for information only. Be sure to contact your financial advisor before investing.)

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