Millionaire in 10 years: National Bonds unveils ‘My One Million’ saving plan

National Bonds, the UAE-based shariah-compliant savings and investment firm, has unveiled the “My One Million” plan – that allows both residents and citizens to become dirham millionaires through savings and accumulated profits for up to 10 years.

The newly introduced plan, which is open to corporates, allows participants to select a tenor ranging from three to 10 years.

Participants have the option to make a lump-sum investment if they wish to jump-start their savings journey with an upfront payment.

Similarly, companies can contribute on behalf of their employees, either partially or in full, which is expected to enhance employee retention.

“Our mission is to empower individuals and corporations alike with knowledge and opportunities that foster lasting financial prosperity within our community,” said Rehab Lootah, deputy group CEO of National Bonds.

“With the launch of ‘My One Million’, becoming a millionaire is a choice that every individual can make.” Citizens and residents who wish to participate in the scheme can easily enrol in the plan through the app or any of National Bonds’ branches.

Customers can begin by choosing the plan’s duration; then they can set up the monthly contribution.

Furthermore, they can make an initial savings amount, which is optional and applies to both individuals and corporations. For instance, if a customer chooses a 10-year plan and decides to initiate their investment with a lump sum of Dhs100,000, the monthly contribution required to reach Dhs1m by the end of the term will be Dhs6,200.

‘My One Million’ customers can enhance their financial well-being through rewards and cash prizes offered by National Bonds. Customers also get access to the National Bonds’ Dhs35m rewards programme, including the Dhs1m draw that takes place every quarter and the annual 16 luxury cars draw.

National Bonds promotes saving culture

Meanwhile, National Bonds unveiled Second Salary, a customised savings solution created for the UAE’s national and expat population to generate supplementary income, in March.

Second Salary is designed to empower people by offering a personalised additional income-generating solution to ensure that individuals can continue to enjoy their desired lifestyle.

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 three 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.

By devising new ways to help build a stronger culture of savings in the UAE, National Bonds aims to help people build longer-term prospects and financial health for the future through its unique, simple, and flexible solutions.

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