Redemption

Redemption

 

National Bonds gives you the flexibility to redeem your funds after a 30 day period based on your saving choices.


Savings through credit card can be redeemed after a 90 day period.


Saving Bonds are subject to a deferred-payment subscription fee which is payable at the time of redemption and waived if Saving Bonds complete 6 months holding period. The subscription fee is 1% (min of AED 15) of the redeemed Saving Bonds value and deducted from the redemption amount.

In case of payment through credit or debit card, the subscription fee is payable at the time of Saving Bonds redemption and waived if Saving Bonds complete 24 months holding period. The subscription fee is 2% (min of AED 15) of the redeemed Saving Bonds and deducted from the redemption amount.

In case of recurring number of monthly payment mandate, the subscription fee is 1% (min of AED 15) of the total amount of planned payments and waived if all payments are made in accordance with the selected plan.  Subscription fee is also payable at the time of plan cancellation or any early redemption during the plan period.


Funds can be redeemed through various channels of redemption:-


Within UAE


Instant Redemption

With our new automated system, you can redeem your savings up to AED 10,000 per day, online via our website or mobile app and just visit the select branches of Al Ansari Exchange and UAE Exchange to collect your cash.


You will be required to provide your National Bonds Account number and present your original passport or UAE ID.


With just a few clicks, receive SMS code and collect your cash! The new process is as simple as below:

 
Redemption Process Final-01
 
 
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The new process is effective 1st July 2016. Existing instant redemption process will be discontinued effective 1st August 2016.
Distributor charges related to instant cash redemption will be deducted from the amount.


Please refer to below list of authorized Al Ansari Exchange for redemption:

 
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Please refer to below list of authorized UAE Exchange for redemption:

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Cheques:


For a value above AED 10,000, you can request for a cheque redemption by following the below process:-

  1. Contact us on 600-5222-79 (UAE) 6 days a week except Friday from 09:00 am to 05:00 pm.
    Kindly note that no requests through emails or faxes will be accepted.
  2. Once the redemption request is processed, a cheque will be issued and couriered to you within approximately 5 working days. A courier charge of AED 19 will be deducted from the bonds value on cheques redemption.

International:

  1. Contact us on 971 4 384 8000 (Overseas) 6 days a week except Friday from 09:00 AM to 05:00 PM (GMT +4 Abu Dhabi).
  2. You will be asked to provide below information:
    • Beneficiary Name (Bank Beneficiary name should match the Bond Holder name)
    • Name of Bank (Complete name, No initials)
    • Bank Account Number (As per bank statement)
    • Bank Branch (Complete address of the Bank)
    • Swift Code (11 digits Alphanumeric)
    • We also require your passport copy and bank statement or any Bank Document
  3. Upon receipt of above information, Redemption request is processed and the funds will be remitted through direct transfer into National Bond holder's bank account only. Please note that charges related to the money transfer may be deducted from the transfer amount by the respective banks.