Second Salary is a customised saving solution that National Bonds offers to the UAE's national and expat population in order to generate supplementary income. The plan is the first part of a long-term programme aimed at providing the best retirement plans in the UAE.
Second Salary enables individuals to continue to enjoy their desired lifestyle by providing a personalised additional income-generating solution. The plan comprises two main phases, the first being the "Saving" phase, where customers place money into National Bonds every month for a period of their choosing between 3 and 10 years. The subsequent "Income" phase allows the customer to begin drawing income every month, receiving their base investment amount monthly plus their accumulated profit.
If customers save Dh5,000 a month for 10 years, they could expect to receive Dh7,500 a month for the next 10 years. Similarly, if customers were to save Dh5,000 per month for 5 years, but choose to redeem within a period of the next 3 years, they could take home a monthly amount of Dh10,020 for three years– more than double the monthly savings.
The minimum monthly investment required for Second Salary is Dh1,000 over a minimum of three years. With complete flexibility provided to customers over the amount and tenure of the savings and salary phases, customers can devise their Second Salary plan to create the safety of a supplementary monthly income for the future. To fulfill financial goals, such as paying education fees, making a down payment on a house, or investing, customers can redeem their savings as a lump sum instead of monthly payments.
Second Salary customers can also boost their financial well-being with exciting rewards and cash prizes from National Bonds. Additionally, National Bonds offers a rewards program with AED 35 million in prizes, which enhances the chances of winning by up to 30 times based on the term of the savings account.
In response to the growing need for ways to create a sustainable extra income, Mohammed Qasim Al Ali, Group CEO of National Bonds, created the Second Salary plan. We take pride in offering a highly personalised and flexible savings plan in Second Salary, which provides UAE residents with an affordable and seamless enabler to achieving financial security. Our commitment to innovation in the industry remains steadfast as we constantly strive to develop new innovative avenues for our customers to enhance their financial futures."
A unique, simple, and flexible solution from National Bonds helps people build longer-term prospects and financial health for the future through the establishment of a stronger culture of saving in the UAE.