You might be hearing a lot about this if you are in the UAE. It might be about some winner on a raffle promo or their journey as a saver. But…
First, what is the UAE National Bonds?
The National Bonds is the leading saving & investment company in the UAE with innovative shari’a approach to financial products & services for individuals & corporations.
While, Sharia is a religious law forming part of the Islamic tradition. It’s derived from the religious precepts of Islam and is based on the interpretations of the sacred scriptures of Islam, particularly the Quran and the Hadith. [mfn] What is Sharia? [/mfn]
National Bonds Corporation was established in 2006. The company provides UAE nationals, UAE residents and non-residents with an opportunity to build and fortify their savings safety net, as well as invest in programs that offer competitive returns with lower risk. Its goal is to encourage a disciplined savings habit for people across the 7 emirates, in line with the UAE Government Vision for a financially secure and sustainable future. [mfn] National Bonds – LinkedIn [/mfn]
The goal also includes increasing financial literacy and encourage disciplined savings habits amongst its depositors while ensuring their financial objectives are achieved in a sustainable manner.
What are the benefits?
- Entry into the exciting AED 35M Rewards Program with 423,408 yearly prizes and 2 millionaire prizes every quarter
- Earn competitive returns yearly
- Flexible access to your savings
- Global and 24/7 access via mobile app for all savings and investment needs.
What are the products to choose?
There are a variety of products you may choose to start savings and investing. [mfn] National Bonds – Products [/mfn]
Saving Bonds
Using Saving Bond Certificates that allow you to start savings with as little as AED 100 and enjoy yearly profits and Rewards Program. With Saving Certificates being available in units of AED 10, you can choose to alter your saving amounts to suit your needs, either by increasing it to AED 150 a month, or holding back a little with AED 120 the next.
The Global Savings Club
In this program, you will be able to attain customizable savings plans depending on your salary. And from this, you will get a competitive profit rate and extra chances to participate their AED 35 Million Rewards Program.
Accelerator Savings Plan
This is an easy way to achieve your short or long-term goals and put your savings on the fast-track. With a minimum investment of AED 200, you will be able to have cumulative savings with an expected bonus of up to 10% per annum and join their AED 35 Million Rewards Program.
myPlan
With this, you can enjoy the perks of having extra money in the future by choosing to pay yourself first today. Joining myPlan is very simple. You just have to decide how much you would like to save and the monthly date you would like your savings to be debited from your account.
The Payout
With this, all you have to do is invest and gain monthly payout, earn a fantastic expected profit of up to 8% per annum for the first 6 months, and join their AED 1 Million and luxury car draws.
Pledging Scheme
If you are in need of fast cash, you may join this program as you will have an access to financing of up to 90% in bonds value, enjoy a flat financing rate of 3.49%, and have a tenor of 48 months
2-Year Booster
Here, you can invest your AED 10,000 where you can earn profit of up to 6% upon maturity period of 2 years.
Advance Booster 12%
This is an investment opportunity starting from AED 10,000 with profit paid in advance every year while receiving 3% yearly profit, thus an expected return of 12% after 4 years.
Tejouri
This is an exclusive account for Emirates that is designed to provide with the best saving solutions and dedicated prizes to make savings journey seamless and rewarding.
The USD Certificates
They are offering this for a limited-time in which the investment amount starts at USD 100,000 with an expected profit of up to 2.5% per annum in quarterly distribution.
Booster 10
With a minimum investment of AED 10,000 you can earn profit of up to 10% in 3 years and enter their 8 Millionaire draws as well 16 luxury car draws.
Education Plan
Saving a little to secure your child’s dream while earning high expected profits. For example, you wish to save AED 200,000 for your child’s future university fee, then you would have to save around AED 3,160 monthly for 5 years or as low as AED 1,500 for 10 years.
Gift Vouchers
This is an opportunity to purchase a gift voucher ranging from AED 100 to AED 25,000 allowing your loved one to enjoy weekly to monthly and annual profits.
Which programs I chose to invest in?
As for me, I have chosen to save on their Saving Bonds and myPlan programs.
With Saving Bonds, I have chosen to deduct AED 200 monthly on my salary which goes through WPS (or wages protection system), thus I receive my salary on my bank 200 dirham-less.
While with myPlan, I have chosen to deduct AED 500 every 1st of each month from my bank account. There was one time when I forgot to put this amount on that certain bank account yet they didn’t charge me for any penalty or late payment fees.
This is just one of the things I love while saving with National Bonds.
What things did I like about saving with the UAE National Bonds?
First, their services are truly accessible. If ever you also decided to save on one of their programs, you can just go to their website via this link – National Bonds, and have a live chat with one of their representative, call them through their UAE hotline – 600522279, or just click on ‘Apply Now’ after filling up your details such as your name, email address and phone number; then, you would definitely receive a call back after few minutes.
Information about the programs they offer are available too.
Second, it is affordable and cost efficient. You can start saving even if you only have AED 100 from your pocket. It is just fair to save something for yourself after receiving your hard-earned money. This small savings will accumulate after few years and you will never know – you were able to save that much funds! Can you imagine that? You were able to save a 5-digit number in a few years without hassle!
Third, it’s truly hassle free. You don’t have to worry with the due dates as the funds will be automatically debited from your account. You just need to make sure that you have enough funds. With Saving Bonds being deducted from your monthly salary, you absolutely have nothing to worry about.
Fourth, you have a chance to win their weekly or monthly draws. Being said that, I have won prizes with National Bonds several times. So even if I’m not considering the profit gained, I would still be able to earn from draws. I usually win AED 50 every 3 months for the last few years, however recently, I was surprised to I have been rewarded almost every month! I also got a AED 150-winning once. The feeling was so extremely fulfilling and joyful. Though AED 50 is a small amount of money, when it accumulates, you will be surprised. Well, you cannot just find AED 50 lying on the ground anyways, right?
Fifth, monitoring your savings is extremely handy and available 24/7. This has been made easy by using their mobile app where you can monitor your savings as well as your winnings. it can be downloaded from your mobile App Store and it’s very easy to use given that I’m not that techy.
The next draw schedule as well as your total winnings can be viewed online.
Lastly, redeeming your funds is so easy. Whenever you got the urgent need for funds, let’s say for an emergency, you can withdraw your funds smoothly. I have tried it once, you just have to login to your account via their website or your mobile application, go to Redemption, select your preferred amount and Voila! You will receive a Redemption code and show it to one of their selected branches, a list is also available showing the location and timings. I redeemed mine (only a small amount of funds) on Al Ansari Exchange inside Dubai Festival Mall, near Marks & Spencer. Their staff are friendly and very helpful too!
A Word From The Author
Saving for the future is very important. The UAE National Bonds helped me save for my future and also helped me build my emergency fund. And because I and my husband are now going to be a soon-to-be small family, we can also use these funds for our baby’s future needs as well as his/her education.
But also, always remember, that aside from saving for our future’s security, we should still not forget to enjoy life. Don’t forget that we only have one! 🙂
The hardest thing to find in life is happiness – money is only hard to find because it gets wasted trying to find happiness.
Resources:
1. What is Sharia?
2. National Bonds – LinkedIn
3. National Bonds – Products
How To Access Your Virtual Pag-IBIG Account – OFW Guide
The Benefits of Investing in Pag-IBIG MP2 Savings Program – OFW Guide
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I’ve lived in UAE for years but I never invested in UAE bonds. These are amazing, I wish I knew about them back then.
I’ve never heard of UAE bonds till now!! Thank you so much, I definitely would love to learn more about them.
What a great blog to read! I am glad to know all these. It’s very interesting! Thanks for sharing