With Mother’s Day around the corner, you sure must be busy looking for something special to gift your Mom. While there is no match as a gift that can repay her commitment to her child and family, there is always something thoughtful you can do to express your gratitude. While bags, flowers, and jewellery are all excellent conventional gifting choices, how about considering something more long-lasting? You can choose to gift your mother financial freedom and security that will give her independence for a lifetime and safeguard her golden years.
Here are a few financial gifts that you can consider gifting your mother this Mother’s Day.
Read also: 7 Amazing Gift Ideas for Mother’s Day 2022
- Fixed Deposit
Fixed deposits are one of the safest investment tools available in the market. They are also called term deposits. You can save up a lump sum and invest in an FD for your mother. At maturity, you get your initial deposit along with accrued interest. All banks, NBFCs and post-offices offer fixed deposits. You can also opt for a non-cumulative FD payout where you get returns periodically. This can help her finance her recurring expenses. With the recent hike in repo rate announced by the Reserve Bank of India’s Monetary Policy Committee, financial experts are speculating that interest rates offered for investors will also see a considerable hike. This makes it even more of a perfect time to invest in a Fixed Deposit.
- Senior Citizens Savings Scheme
Investing in a Senior Citizen Savings Scheme is an extremely smart option if your mom is a senior citizen. This is also a very sound investment tool since it is backed by the government. It will keep your initial deposit safe while earning interest on your funds. The interest rate changes every 3 months but once invested the applicable rate remains constant for 5 years.
- Gold Bonds
Gifting gold is one of the most traditional practices in Indian households. However, instead of gifting solid gold, you can consider gifting your mother a sovereign gold bond or a gold fund. You can also make a trading and Demat account for your mom and invest in gold ETFs. The challenge one faces while buying gold is the purity of the material, but with these tools, you can enjoy buying gold without having to worry about the credibility of the gold and the purity of your purchase.
- Health Insurance
Our mothers always ensured our safety and health. It is only appropriate to do so when she’s nearing or is in her golden years. Along with doing it physically, you can also safeguard her health by gifting her health insurance. This health insurance will cover expenses for unforeseen medical expenses and save the family from the hassle of arranging for funds while going through treatment. There are many plans available in the market that also cover critical illnesses, regular medical check-ups, etc. This is how you can take care of her health during her golden years.
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These are a few financial tools that you can consider gifting your Mother that will benefit her for a lifetime and give her the financial security she deserves. The best part about these options is that you can invest in almost every financial tool from anywhere in the world at any time from the comfort of your home. Choose a gift now and reap benefits for years!
