Smart Financial Gifts For Your Parents This Christmas


As a daughter/son, gifting your parents with the most precious and chosen gift is what every one of us wishes for.

Christmas is one such festival where you gift your parents, elders, friends, and relatives. If you are tired of gifting clothes, accessories, and such to your parents, you can consider gifting them with a financial gift by investing in investment plans this Christmas.

After all, financial security is one of the most precious gifts you can give to your parents. There is a broad array of investment plans in the market that can easily confuse you or spoil you for choices. However, with an in-depth knowledge of the investment sector and up-to-date information about the investing techniques, you can choose the right investment plan for you.

Prominent Investment Plans in India

Depending on the degrees of risk associated with the investment plan, there are many investment plans in India, and they are:

Public Provident Fund

Planning for retirement is incomplete without the introduction of Provident Fund or Public Provident Fund. You need to deposit a predetermined sum every month into your PPF account with a lock-in period of 15 years. On maturity, the sum accrued along with the applicable interest rate is payable to you.

Fixed Deposit (FD)

When you ask for a short-term investment plan and a long-term investment plan, the answer is Fixed Deposit. While, to make an investment for your parents you can book the Senior Citizen FD this Christmas season. You have to deposit a lump sum amount to open an FD account with a flexible tenor ranging from 7 days to 10 years. You can choose the tenor of your FD and the FD interest rates payout from a monthly, quarterly, half-yearly, or yearly basis.

Mutual Funds

Mutual funds are a systematic investment plan that aids in building a considerable corpus to meet your financial requirements. Based on the fund performance, you can gain returns from your investments. Also, some financial providers offer the facility to switch among the fund options without charging any additional fee for the same. You need to switch the investment options based on the fund performances you chose to invest.

Unit Linked Insurance Plans (ULIPs)

When looking for a comprehensive investment with insurance and investment on one plate, ULIPs is the product. You can invest in market-linked plans like equity, debt, balance funding options as well as get life covers to get double benefits from your investment. You can choose your funding types based on your risk appetite and financial goals.

How to Choose the Right Financial Provider?

In order to avoid risking your investment sum, you need to choose a financial provider wisely. One of the leading financial providers, Bajaj Finance offers you a range of financial products with quick application procedure and minimal documentation. The company is ranked with the highest rating from CRISIL and ICRA (FAAA and MAAA respectively).

If you invest in an FD with Bajaj Finance, apart from the high credibility, you can choose the tenor, FD interest rates payout frequency, and the type of FD (Cumulative and Non-Cumulative). With the unique feature of FD for senior citizen, you can gift your parents’ financial security with a 0.35% increased interest rates.

Also, you can calculate the FD interest rates and the maturity returns of your investment using the online FD calculator. The only required input is your customer type, deposit amount, type of FD, and the frequency of interest payout if you choose non-cumulative FD.

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