UAE ‘Second Salary’ Plan: A Way to Boost Monthly Income for Residents

The UAE National Bond has introduced a scheme for nationals and expatriates to generate supplementary income. The initiative aims to provide better financial support and lifestyle to individuals while they are working and even after retirement. This plan can potentially help individuals secure themselves financially during difficult market conditions.

Phases of the Second Salary Plan

The scheme has been categorised into two phases -  Saving and Income

• Saving: It is the time span in which you deposit your money to the National Bond. This tenure can range between 3-10 years.
• Income: This is the second phase and during this period, you start receiving the income on the invested sum. The income component includes the base investment and profits accumulated on it. Note that those who have opted for the supplementary income plan can choose to withdraw their money on monthly or on a lump-sum basis.

Key Points to Consider About the Second Salary Plan

• The minimum amount required for the deposit is AED 1,000. 
• The expected profit rate starts from 4.07% per annum. 
• It is a lump-sum investment option to enhance monthly income. 
• The entire amount is redeemable after 90 days. 
• You can flexibly choose your saving period tenure and income period tenure.  

How to Register for the Second Salary Scheme?

Those who wish to avail of the Second Salary scheme in the UAE must follow the steps mentioned below to complete the registration process:

• Go to National Bonds official website - nationalbonds.ae. 
• From the ‘Personal’ header, choose ‘Products’. 
• Select the ‘Second Salary’ option and tap ‘Apply Online’. 
• Type in all the details as prompted. 
• Click on the ‘Submit Form’ option.  

Note: After submitting the application, one of the National Bonds officials will contact you shortly via email.  

Win Rewards and Cash Prizes With the Second Salary Scheme

Those registered with the Second Salary scheme in the Emirates can avail of exclusive opportunities to win cash prizes and other rewards from National Bonds. The prizes can range from Dh 1 million to 16 luxury cars and much more.