UAE: National Bonds announces highest-ever return on savings in 2023

  • Date: 02-Apr-2024
  • Source: Khaleej Times
  • Sector:Financial Markets
  • Country:UAE
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UAE: National Bonds announces highest-ever return on savings in 2023

Published: Tue 2 Apr 2024, 2:42 PM Last updated: Tue 2 Apr 2024, 2:48 PM

National Bonds on Tuesday announced returns of up to 5.84 per cent on saving bonds for 2023 — the highest amount offered by the savings and investment firm in its history.

During a Press conference on Tuesday, the company said it offered an average of 4.2 per cent return to its investors for 2023.

Residents investing Dh1 million-plus in saving bonds received 5.84 per cent returns while those who have investments between Dh350,000 and Dh1 million received 4.22 per cent.

The investment portfolio of National Bonds crossed Dh14 billion and distributed Dh2.9 billion in profit payouts and prizes as of December 2023.

The company also reported a 215-per-cent increase in new savers in 2023 as compared to the previous year.

On March 27, National Bonds launched the “Eibor Plus” scheme which tracks the Emirates Interbank Offered Rate (Eibor), providing investors with an expected return of 0.5 per cent above the benchmark’s performance on an annual basis.

A minimum investment of Dh25,000 grants investors entry into the programme, with the flexibility to choose their preferred Eibor-linked Term Sukuk ranging from 6 to 36 months.

The investment firm has the highest exposure to fixed-income assets