Overview of National Bonds’ Sharia-compliant Second Salary Scheme
UAE residents can earn a ‘second salary’ by investing a minimum of Dh1,000 per month for at least three years, with a new scheme launched recently. Announced by National Bonds, simply put, the savings plan allows customers to save monthly for a duration they choose, and receive an income at the end of it.
“One of the key advantages is the ability to choose a preferred tenor and enjoy a competitive expected profit rate reinvested monthly for the entire duration of the customer tenor,” Mohammed Qasim Al Ali, Group CEO, National Bonds, told Khaleej Times in an exclusive interview.
How the Scheme Works
Essentially, there are two phases to the Sharia-compliant scheme: Saving — where customers invest for the duration they choose (3 to 10 years); and income — where they draw their monthly income (principal plus profit) at the end of the saving period.
“Customers save monthly for a period ranging from 3-10 years, after which they can enjoy the accumulated profit with monthly reinvestment based on their chosen period of time,” said Al Ali.
He illustrated the scheme with an example: “For instance, if a customer saves Dh5,000 monthly during their savings period, where profit is reinvested monthly, then they can receive Dh7,500 distributed over the duration of the income period.”
In other words, the income is distributed evenly with the profit added on every month.
How Skwer Group Can Help with Investment Consultancy in UAE
As with any investment decision, it’s essential to seek advice from professionals in the field. This is where Skwer Group, an investment consultant in UAE, can help. Skwer Group offers expert investment advice to clients in the UAE, helping them make informed investment decisions. With their extensive knowledge of the market and investment opportunities, Skwer Group can assist in choosing the right investment plan that aligns with the client’s financial goals.
By partnering with Skwer Group, clients can ensure that their investment decisions are based on sound advice and backed by data-driven analysis. Furthermore, Skwer Group’s team of experienced investment consultant in Dubai, UAE is committed to providing personalized investment consultancy services tailored to each client’s unique needs.
Key Takeaway
In summary, the ‘Second Salary’ scheme by National Bonds offers UAE residents a reliable way to earn additional income by investing a minimum of Dh1,000 per month for at least three years. So, to make informed investment decisions and maximize returns, it’s essential to seek advice from professionals in the field, such as Skwer Group, an investment consultant in Dubai, UAE.