5 Financial Gifts Which You Can Give Your Mother This Mother’s Day!

8 May is celebrated every year to appreciate the mother’s contribution & impact on our life & world. And there’s one most loved woman who had the most significant impact on our life, mother. And if you want to give her something different from flowers, clothes &jewellery, this article is for you. Financial gifts are the best kind you can give her to ensure her happiness and a powerful economic base for the future, which is truly remarkable. These gifts will surely make your mother feel valued. Do consult a SEBI investment advisor to understand all the terms & conditions.

5 Financial Gifts Which You Can Give Your Mother

  1. FD account: Opening a Fixed Deposit account is a good investment for your mother as it will provide good returns. Banks generally have slightly better interest rates for senior citizens, making it a convenient investment option. It is a safe investment, so there is no risk of losing money. There are many FD options to choose from banks or NBFCs. Assured returns in old age make this an ideal investment tool. You can even take a loan against your FD if you are in need.
  2. RD Account: Relatively lesser-known but a good investment option for senior citizens as many banks offer higher interest rates than general schemes. The interest rate of this account is higher than a typical savings account. The investment tenure ranges from 6 months to 10 years & once the interest rate gets fixed, it does not change till maturity. You can invest as low as Rs 10, and you can renew the RD account once you mature.
  3. Senior citizen savings scheme (SCSS): Services offered especially to senior citizens. You can invest a maximum of 15 lakh rupees with an interest of 7.4% for five years, which is a fabulous gift for your mother. The SCSS account can be extended for three years within a year of maturity. Although, an NRI & Hindu Undivided Family (HUF) are not eligible to open an SCSS account. Individuals can operate more than one account by themselves or open a joint account.
  4. ELSS: Equity Linked Saving Scheme is one of the best investment options in the market currently. It’s believed to be one of the highest returning asset classes in the market and gives twice the returns of FD or PPF. It has a lock-in period of just three years & you can invest in lump sum or SIP mode. It is a tax-saving investment as it comes under 80C of the Income Tax Act, 1981.
  5. Pradhan Mantri Vaya Vandana Yojana: Pradhan Mantri Vaya Vandana Yojana is a type of pension plan supported by the Indian Government solely for aged citizens. A person gets an interest of 7.4% for ten years with four pension payment options- monthly, quarterly, half-yearly & yearly. After the completion of three years, you can also apply for a loan against your account.



Those are the five financial gifts you can give your mother. Do proper research and make a sound decision. Moreover, a private financer near me, Finway FSC, can help you with this and clear your doubts, if any. All the gifts stated above will be beneficial for her. And many investment options are even backed by the Government of India.

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