Dubai: Savings and investment company National Bonds has launched a savings scheme that tracks the ‘Emirates Interbank Offered Rate’ (EIBOR), the UAE’s benchmark interest rate for lending between banks within the UAE.
EIBOR Plus delivers an adaptable investment option, with its pricing model automatically adjusting quarterly to reflect the Central Bank’s EIBOR, the Investment Corporation of Dubai (ICD) -owned company said in a statement.
EIBOR Plus investment solution provides investors with an expected return of 0.5 per cent above the benchmark’s performance on an annual basis, National Bonds said.
“This underscores National Bonds’ commitment to empowering individuals and fostering wealth creation through transparent, flexible, and innovative products,” it said.
Investors are granted entry into the programme with a minimum investment of Dh25,000. The programme allows investors to choose their preferred EIBOR-linked Term Sukuk, ranging from six to 36 months, aligning with their financial goals.
Rehab Lootah, Deputy CEO of National Bonds, said, “Our mission is to empower individuals and provide the safest yet most rewarding savings and investment solutions in the UAE. The launch of ‘EIBOR Plus’ exemplifies this commitment. As the UAE’s economy flourishes, we will continue to develop innovative programs and creative solutions to cater seamlessly to the diverse financial needs and aspirations of the UAE’s population.”
In February this year, National Bonds announced a revamp of its rewards programme, opening up significant prize-winning opportunities for all savers and members. The UAE savings and investment company’s rewards programme allows members to win up to Dh35.5 million prizes.
Participants could win various prizes, including 16 luxury cars (four of which are earmarked for Emirati savers), an iPhone every day for a total of 365 devices, and other monthly rewards.
Savers also stand a chance to win up to Dh2 million every quarter. The new rewards also offer specialised chances of winning for regular savers, digital savers, and prestige members, it said. Since its inception in 2006, National Bonds has rewarded grand prizes of Dh1 million each to 216 winners and distributed over Dh761 million worth of prizes. Moreover, the number of savers who registered increased by more than four times (369 per cent) from 2022 to 2023.
