From Mutual Funds to Gold Bonds, 5 Monetary Reward Concepts for Your Mother

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Mother’s Day is right here and all of us are busy discovering the very best items for our moms to inform her how particular she is. However all these standard gifting concepts solely final for a second in time. Why not give your mom better spending energy this Mom’s Day, or one thing that may final her a lifetime whereas giving her monetary independence and safety. Listed below are 5 monetary items you’ll be able to think about to your mom that can really shock her this Mom’s Day:

Monetary Advisor

In case your mom doesn’t already work with a monetary skilled, think about gifting her the providers of 1. A monetary advisor will help your mom handle her monetary portfolio and assist her transfer in the direction of her retirement objectives by placing her cash to raised use.

Shares/Mutual Funds

In case your mom has an curiosity in investing, then gifting her a bit of her favorite firm generally is a very fascinating thought. Even when she will not be a eager investor, good high quality fairness shares may give excessive returns in future. You may present the shares by transferring them on to the recipient’s demat account. The recipient in flip has to fill out a receipt instruction with related particulars and submit it to his depository participant.

Mutual funds items usually are not transferable. So, with a view to present MFs, both redeem the mutual fund items and present the proceeds to your mom on this Mom’s Day, or switch funds to her account and purchase the funds on her behalf.

Gold Bonds

Gold bonds, as a substitute of bodily gold, are a wiser solution to spend money on the yellow metallic if you’re searching for an actual charge of return. Its worth is more likely to admire provided that international uncertainties would push up gold costs additional. Additionally this has sovereign assure of cost and no likelihood of default on the time of redemption. Furthermore, as per the sovereign gold bond scheme, the bonds might be gifted or transferred to anybody who meets the eligibility standards. So, gold bonds could make an thought present to your mom on Mom’s Day.

Well being Insurance coverage

Gifting a well being cowl to your mom assures her of finest medical care when wanted with none pressure on her funds. Indian market presently abounds with choices on healthcare plans, with many insurance coverage suppliers additionally providing household floater healthcare plans particularly designed to incorporate senior family members. Nevertheless, the choices are likely to restrict down if the age of your mom is greater than 50. However the excellent news is that many corporations are actually developing with mediclaim coverage particularly designed for senior residents, so you’ll be able to decide one such, too.

Senior Citizen Saving Schemes (SCSS)

In case your mom was working and is aged above 60, then you may as well present her advantages of the Senior Citizen Saving Schemes (SCSS). SCSS is a government-backed financial savings instrument which provides 7.40% every year. The deposit matures after 5 years from the date of account opening however might be prolonged as soon as by a further three years.  Nevertheless, the higher restrict for investing in SCSS is Rs 15 lakh. SCSS fits senior residents searching for a excessive mounted charge of return and a daily earnings on a quarterly foundation. Funding in SCSS can also be eligible for tax deduction as much as Rs 1.5 lakh every year underneath Part 80C of the Revenue-tax Act, 1961.

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