National Bonds has announced that its savings and investments products provided up to 4 per cent annual returns to customers in 2014.
National Bonds is the national saving scheme for the UAE providing UAE nationals, residents and non-residents over the age of 16 with a safe and Sharia-compliant savings opportunity.
It revealed that its One Year Term Bonds offered 2.50 per cent annual returns while the Savings Bonds provided 1.20 per cent annual returns. The company also offers the three year Step-up Bonds that provide an annual profit rate of 4 per cent.
The longer the saving period for principal deposits held with National Bonds, the higher the annual returns. For instance, the cumulative returns on saving for nine years with National Bonds amount to 56.81 per cent, while saving for five years awards 13.82 per cent in total annual returns.
The company witnessed a 7 per cent increase in the number of customers in 2014, totalling 786,000 customers from 200 nationalities.
National Bonds said it allocates 94 per cent of its investments within the UAE market. About 80 per cent of the total assets in 2014 were income-generating assets, such as wakala deposits, sukuk, and yield generating real estate.
ascott@thenational.ae
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