The UAE’s government departments are always developing novel efforts to assist its citizens and residents. National Bonds just launched such an effort. The investing Corporation of Dubai operates the Sharia-compliant investing and savings firm. This fresh effort will allow UAE nationals and residents to boost their income. Continue reading to learn more about the National Bonds Second Salary Scheme in depth.
ALL ABOUT THE NATIONAL BONDS SECOND SALARY SCHEME
It is always a good idea to plan for the future. It all come down to making wise decisions today to ensure tomorrow is safe. You can make investments in your future with the Second Salary Programme.
As part of the responsibility, you can deposit money each month for three to 10 years. This are known to as the investment phase. You could also augment your regular investment with a single payment of money.
The investment period would be followed by an income phase in which funds may be withdrawn each month. Investors would get their original investment together with the total profit. Profits will be increased regularly to provide larger profits.
As a result, if you invest AED 6,000 monthly for ten years, you would receive AED 8,077 monthly. If you want to get your cash back in 7 years instead of 10, the monthly payment is AED 11,060. The online calculator on the official National Bonds website may be used to determine your estimated return.
NATIONAL BOND SECOND SALARY SCHEME BENEFITS
Here is a list of National Bond Second Salary Scheme benefits:
- Expected yearly return rate of 2.95%, reinvested each month of your investment tenure
- Participating in the whole AED 35 million Reward Programme
- Option for a lump sum investment to increase your monthly income
- Flexible periods ranging from three to ten years
- Option to remove investment after 90 days
- Waiver of subscription fees at completion of a three-year period of investment
HOW TO APPLY FOR THE NATIONAL BONDS SECOND SALARY SCHEME?
You can apply on the National Bonds website. To start, log in using the UAE Pass, pick Secondary Salary, click on buy, and fill out the form.
WHAT IF I MISS A PAYMENT DURING MY INVESTMENT TENURE?
You may choose to take a payment holiday for two months every single year without incurring any penalties. If more than two payments are missing, the plan is changed into a Sukuk Bond, which the customer might profit from.
WHAT IF I WISH TO CANCEL MY PLAN MIDWAY?
As previously stated, you may cancel the National Bonds Second Salary Scheme before the end of your service. Your funds would be returned to you after 90 days. There will be no subscription cost if you meet the minimum criterion of three years.
This brings us to the end of our study of the National Bonds Second Salary Scheme. Because it is a government-backed project, you can be sure that your money will be secure. Before making a purchase, read our advice on National Bonds.
