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

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 can .....

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