UAE: Make A 50% Increase On Your Savings After UAE New Scheme Launched

Are you an expat living in the United Arab Emirates?

From incredible weather to glorious attractions, the UAE has a lot to offer to its residents and expats.

The quality of life is sky-high for expats – and it will get even better.

That’s because a new scheme, called Second Salary, is poised to dramatically improve expat retirement plans in the country.

And if you can work it to your advantage, you could be in line to make a 50 percent increase on your savings. Put together by National Bonds, it offers a customised savings solution to generate additional income.

Place your money into a National Bonds savings account every month for a period of your choosing between three and 10 years.

How long you save for is entirely up to you – as long as this time period is not within three years or beyond 10 years.

The minimum monthly investment is Dhs1,000.

You can begin withdrawing money from your savings account every month after the three-year threshold has been surpassed.

Simply notify National Bonds of your intention to withdraw, and you can start receiving your base investment every month – plus any accumulated interest.

For example, if you’ve saved Dhs5,000 monthly for 10 years, you can expect to receive Dhs7,500 per month for the subsequent 10 years.

That 50 percent increase is based on calculations from National Bonds, using estimates of potential interest you could earn. Their estimates also suggest that you could earn Dhs10,020 every month for three years if you save Dhs5,000 per month for five years but choose to redeem within a period of the next three.