Here’s The Perfect Saving Plan To Become A Millionaire in Less Then 10 Yrs

Savings and investment firm National Bonds in the UAE has introduced an enticing savings plan called ‘My One Million.’ 

This scheme allows subscribers to accumulate one million Dirhams (Dh1 million) in savings in a relatively short timeframe through monthly contributions and expected profits.

Monthly Profits Reinvested for Maximum Returns:

One notable feature of the ‘My One Million’ plan is that it reinvests monthly profits, allowing subscribers to maximize their returns over time.

Subscribers can tailor the plan to their financial goals by selecting a tenor that suits them, which can range from three to ten years. The plan duration affects the monthly contribution amount, with longer terms requiring lower monthly contributions.

Monthly Contribution Breakdown for Dh1 Million Savings:

Assuming no upfront payment, here’s a breakdown of the monthly contributions required to achieve one million Dirhams in savings over various tenor options:

• 3 Years
  • Monthly Amount: Dh26,540
  • Total Contribution: Dh955,440
  • Expected Profit: Dh44,560
• 4 Years
  • Monthly Amount: Dh19,610
  • Total Contribution: Dh941,280
  • Expected Profit: Dh58,720
• 5 Years
  • Monthly Amount: Dh15,460
  • Total Contribution: Dh927,600
  • Expected Profit: Dh72,400
• 6 Years
  • Monthly Amount: Dh12,690
  • Total Contribution: Dh913,680
  • Expected Profit: Dh86,320
• 7 Years
  • Monthly Amount: Dh19,610
  • Total Contribution: Dh941,280
  • Expected Profit: Dh58,720
• 8 Years
  • Monthly Amount: Dh9,230
  • Total Contribution: Dh886,080
  • Expected Profit: Dh113,920
• 9 Years
  • Monthly Amount: Dh8,080
  • Total Contribution: Dh872,640
  • Expected Profit: Dh127,360
• 10 Years
  • Monthly Amount: Dh7,160
  • Total Contribution: Dh859,200
  • Expected Profit: Dh140,800

(Note: Calculations are based on an online calculator on the National Bonds website.)

This initiative aims to encourage residents in the UAE to save and invest, offering them the prospect of achieving substantial savings goals within a reasonable timeframe.

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