UAE Second Salary programme explained: How to earn a monthly income by investing Dh1,000

Dubai: If you’ve been looking for a way to earn extra income without taking on a second job, the UAE’s Second Salary programme by National Bonds may be the solution. Launched in 2023, this investment-based plan allows UAE residents to create an additional stream of income with a starting monthly investment as low as Dh1,000.

Designed to support financial stability and long-term security, the Second Salary programme offers a personalised savings and income strategy, with added benefits such as rewards and cash prizes. According to National Bonds, the initiative is part of a broader plan aimed at offering some of the UAE’s best retirement options.

“As a first-of-its-kind savings plan, Second Salary aims to empower people by offering a personalised additional income-generating solution to ensure that individuals continue to enjoy their desired lifestyle,” National Bonds stated.

What makes the Second Salary programme appealing?

In addition to the opportunity to earn a second income, participants in the programme can also benefit from National Bonds’ Dh35 million rewards programme. The longer you save, the higher your chances of winning — with up to 30 times greater odds, depending on your savings term.

How does the Second Salary plan work?

The programme consists of two main phases:

1. Saving phase:

You deposit a fixed amount — starting from Dh1,000 — every month into your National Bonds account. You can choose a savings period ranging from three to 10 years.

2. Income phase:

Once your saving period ends, you begin receiving monthly payouts. These payments include both your base investment and the accumulated profits.

For example:

• Saving Dh5,000 monthly for 10 years could result in a payout of Dh7,500 per month for the next 10 years.

• Saving Dh5,000 monthly for five years, and redeeming over the next three years, could provide Dh10,020 per month for that period.

Customers can also opt for a lump sum redemption instead of monthly payouts, depending on their financial goals — such as paying for education, a house deposit, or other investments.

“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,” National Bonds added in a statement to Gulf News.

Key benefits of the Second Salary plan:

• Start with a monthly commitment of just Dh1,000

• Earn monthly income during your chosen payout phase

• Benefit from an anticipated return of 3.25% p.a., reinvested monthly

• Get access to the full AED 36 million National Bonds Rewards Programme

• Subscription fee waived after completing three years

• Choose a lump sum investment to increase your monthly income

• Flexible savings and income tenures

• Full redemption available after 90 days

Whether you’re looking to build a financial safety net or plan for long-term goals, the Second Salary plan offers an accessible and flexible option for UAE residents.

This article was published on May 15, 2023 and has been updated since.