A new plan announced in the UAE by National Bonds - My One Million plan is designed for both individuals and corporations

Participants in a new plan that was unveiled in the UAE on Monday would be able to save and profit cumulatively Dh1 million by the conclusion of their tenure. National Bonds, a savings and investment firm, claimed that their "My One Million" plan is intended for both people and enterprises. Tenors between three and ten years are available for participants to select. Additionally, they have the choice to invest all at once.

Companies will also have the option to make contributions on behalf of their workers, either fully or partially, which might assist to increase employee retention. Participants may sign up through the company's branches or mobile app. Prior to establishing a monthly commitment, they must first decide on the plan's term. They also have the choice to set aside some money at first.

For instance, the monthly payment would be Dh7,160 if a person selected a 10-year plan. In this scenario, the total savings would be Dh859,200, and the anticipated profit would be Dh140,800, bringing the total to Dh1 million. Like the one-year plan, the monthly commitment for the three-year plan is Dh26,540. The participant becomes a millionaire in three years with a net profit of Dh44,460.

A client who selects a 10-year plan and decides to start investing with a lump-sum of Dh100,000 will need to contribute Dh6,200 each month in order to attain Dh1 million by the end of the term. Additionally, subscribers have access to the Dh35 million rewards scheme offered by the business, which includes the quarterly Dh1 million draw.