Rinse the basmati rice under cold water in a fine mesh strainer until the water runs clear, then set aside.
In a large saucepan, heat the vegetable oil over medium heat. Add the diced yellow onion and sauté for about 5 minutes or until translucent. Stir in the minced garlic and cook for an additional minute until fragrant.
Add the cinnamon stick, cumin seeds, and ground turmeric. Stir everything together, allowing the spices to toast for about 1 minute.
Add the rinsed basmati rice to the saucepan, stirring to coat it in the aromatic mixture. Pour in the low-sodium chicken or vegetable broth and add the kosher salt. Bring the mixture to a gentle boil.
Place the saffron threads in a small bowl and cover them with a few tablespoons of hot water. Let them steep for about 5 minutes.
Once the broth is boiling, reduce the heat to low and add the saffron along with its water to the saucepan. Stir gently, then cover with a lid. Allow the rice to simmer for 15-20 minutes, or until the liquid is absorbed and the rice is tender.
Once cooked, remove the saucepan from heat and let it sit covered for an additional 5 minutes. Remove the cinnamon stick, and fluff the rice gently with a fork.