UAE’s National Bonds launches monthly income plan for as low as Dh1,000 a month

UAE’s National Bonds launches monthly income plan for as low as Dh1,000 a month

Dubai: UAE’s National Bonds has launched a scheme that will help both citizens and expats with supplementary income, it said on Monday. The plan, named Second Salary, comprises two parts – the first phase, when the subscriber deposits a fixed amount every month into his National Bonds account for a fixed tenure, and the second phase, when he starts receiving monthly payouts over a fixed duration. In the saving phase, customers deposit money every month over a period of their choosing between three and 10 years. In the income phase, the customer begins to draw income every month. In this phase, customers receive their base investment amount monthly plus their accumulated profit. For example, if customers save Dh5,000 monthly for 10 years, they could expect to receive Dh7,500 monthly for the subsequent 10 years. Similarly, if customers were to save Dh5,000 per month for five years, but choose to redeem within a period of the next three years, they could take home a monthly amount of Dh10,020 for three years. Customers who opt for Second Salary need to place a minimum monthly investment of Dh1,000 for a minimum period of three years. Customers can also choose to redeem their savings