How to increase your chances of becoming a millionaire in UAE

If you have been hoping to become a National Bonds millionaire, here is how you could increase your chances.

Company officials told Emirates 24|7 say those who giving standing instructions to their banks, an order to a bank by its customer, where a fixed amount of money is transferred on a pre-determined frequency, get five times more chances than other savers.

But remember banks do charge for this service, which NBC is not likely to reimburse.

Since its launch in 2006, the Shariah-compliant saving scheme has made nearly 149 millionaires. It distributed over Dh46 million in prizes this year.

The company had unveiled in April a new reward strategy, offering 1,440 daily rewards in Dh50 bonds, totaling Dh26 million in annual prize money to bondholders.

But posts on National Bonds facebook page reveal bondholders are complaining of not winning prizes and looking to redeem their bonds.

Camran Ciddiqui states: “4 years and no prize… what a scheme!! Just keep saving without winning.”

Waqass Ahmad adds: “I have pulled out all my savings after 7 years and invested somewhere else, only won AED200 in 7 years.”

Mohammed Qasim Al Ali, Chief Executive Officer, NBC told this website in April: “I understand their frustrations, but remember these critics have won on different fronts.

“They became regular savers so that is winning. They have got an annual profit, which is better than any other saving scheme in the country. But if one hasn’t won a prize, it that doesn’t mean he will never win in future.”
For people investing over Dh100,000, NBC is currently offering four per cent annual profit rate under a new scheme.

So does it mean that National Bonds will not pay over four per cent in annual profit rates, Al Ali said: “It was different scheme and people can’t participate in the draws… but others have the chance to win prizes and get better profit rate compared to savings account in the UAE.”

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