UAE firms looking to hike salaries over high inflation; pay rise, salary hike
What happens if you register yourself in the investment programme but decide to cancel it after the three year period? Picture used for illustrative purposes only. Image Credit: Shutterstock

Dubai: Earlier this year, National Bonds launched a Second Salary Programme, an investment scheme, which allowed people in the UAE to create a secondary source of income.

The programme requires a person to invest a monthly amount of at least Dh1,000 for a minimum of three years – and up to a maximum of 10 years – after which they can receive monthly returns, which include the initial investment as well as the profit that their investment generated.

However, what happens if you register yourself in the investment programme but decide to cancel it after the three year period? A Gulf News reader wrote in with the question.

She said: “If I save a monthly amount of Dh1,000 for three years and want to cancel my programme, how much will I get as my saving? Will I get it as a one-time payment or on a monthly basis?”

Gulf News raised the reader’s query with National Bonds, which provided the following statement to clarify how the programme works: “If a customer cancels the Second Salary plan, the customer can receive the accumulated principal amount saved along with the earned expected profit in a lump sum or in installments.”

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How much will I earn?

But how much, exactly, will you earn if your savings phase is of three years, for a monthly investment of Dh1,000? While the expected profit rate under the Second Salary Programme is approximately three per cent, according to National Bonds, the rate is subject to change to reflect market conditions.

The company added that it allows customers to calculate the expected profit through an online calculator, which can be found on their website –

At the end of your saving phase, you can either choose the option to receive the profits through monthly payouts, or request for a lump sum payment.

“A key advantage of this plan is the flexibility it offers customers as they can choose their preferred tenor ranging between three to 10 years. Customers also have the option to receive their savings in a single lump sum instead of monthly salary distribution, allowing them to fulfil their financial goals. It also offers competitive expected profit that is reinvested, on a monthly basis, throughout the entire tenor,” the company said.