Recently launched a new savings scheme by National Bonds allows UAE residents to earn a ‘second salary’ by investing a minimum of Dh1,000 per month for three years. The system operates in two phases: the saving phase, where customers support for 3 to 10 years, and the income phase, where they receive their monthly income (principal plus profit) at the end of the saving period.
Mohammed Qasim Al Ali, Group CEO of National Bonds, explained that one of the critical advantages of the scheme is the ability for customers to select their preferred duration and enjoy a competitive expected profit rate, which is reinvested monthly throughout the chosen period.
During the saving period, customers can accumulate profit through monthly reinvestment based on their chosen timeframe. For example, Al Ali illustrated that if a customer saves Dh5,000 monthly during their saving period, they can receive Dh7,500 distributed evenly over the income period.
Subscribers can choose the investment period and the period during which they wish to receive the income. They can opt for monthly payments or redeem their savings as a lump sum.
If a subscriber can only complete some of the investments over the chosen duration, National Bonds offer the option of early redemption of both the principal and profit.
Under the Second Salary plan, subscribers also have the opportunity to win rewards and cash prizes, with increased chances in the Dh35 million Rewards Programme draws. These rewards include tips ranging from Dh1 million to luxury cars and various bond prizes, with specific prizes dedicated to Emiratis, ex-pats, ladies, minors, and regular savers.
The scheme aims to stabilize and secure future income, particularly during economic uncertainty. National Bonds have also introduced retirement schemes, such as the Golden Pension Plan, to support retirement planning and help employees grow their end-of-service benefits efficiently.