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Financial gifting can have roadblocks, especially if the recipient is minor

Stocks can be easily transferred, but gifting mutual funds and life insurance to distant relatives, family or friends is more complicated

Tinesh Bhasin 

Securing someone’s financial future is the best gift you can give them. Instead of giving cash, a prepaid card or buying gold, gift something that can help your close ones financially in the future. An equity product given as a gift, for example, can multiply in value over the years.

A small corpus can become a significant amount that can come handy when a minor turns into an adult. Say, you give a gift on an equity product worth Rs 2 lakh. In 15 years, the corpus can become Rs 10.95 lakh if the investment compounds at 12 per cent each year. At a similar growth rate, Rs 5 lakh ...

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First Published: Wed, November 13 2019. 01:28 IST
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