Web Content Viewer

Business Banking Current Account

RAKBANK’s Business Banking Current Account gives you easy access to your money, all the time. A low minimum balance, and a choice of local and international currencies, makes it an attractive option for our business customers.

  • Dedicated Relationship Manager
  • Earn attractive interest on our Business Current Account
  • Accounts denominated in Dirham*, US Dollar, Pound Sterling or Euro
  • Monthly current account statements detailing all transactions
  • Access to our array of business financing products
  • Unlimited Cheque book facility
  • Attractive Foreign Exchange and Trade Finance rates
  • Competitive rate of interest on Fixed Deposits
  • 24 hour Phone banking service

Local and International Currencies:

Currency Minimum Average Monthly Balance
AED 25,000
USD 10,000
EUR 10,000
GBP 10,000

 

Interest applicable effective 1st August 2022:

Account Balance slab
From (AED) To (AED) Interest rate
500,000 4,999,999.99 0.10%
5,000,000 14,999,999.99 0.15%
15,000,000 And above 0.25%*


Interest applicable effective 1st April 2020:

Account Balance slab
From (AED) To (AED) Interest rate
1,000,000 4,999,999.99 0.10%
5,000,000 14,999,999.99 0.15%
15,000,000 And above 0.25%*


Interest applicable effective 1st April 2020:

Account Balance slab
From (USD) To (USD) Interest rate
500,000 4,999,999.99 0.10%
5,000,000 9,999,999.99 0.15%
10,000,000 And above 0.25%*

*Differential interest calculation method, Interest rate is subject to change as per bank's discretion

Note: If you do not wish to earn interest on your existing  Business Current Account, please feel free to write to us at businessbanking@rakbank.ae from your registered email id.

Interest charges applicable for Japanese Yen, Euro and Swiss Franc as below:

Currency Interest (% p.a.)
GBP NIL
JPY -0.60
EURO -1.00
CHF -2.00

You can also open a Business Account at the Etisalat Hello Business Hub, located in OneJLT between:

Saturday & Monday to Thursday – 8 AM to 5 PM
Friday – 8 am to 12 pm
Sunday – Closed

Get Directions.

  • Cheque book/Debit Card is issued only for AED denominated Account.
  • If a cheque issued on the Account is returned, the following may apply:
  • Reporting your Account to AECB.
  • Account closure.
  • Difficulty in availing Loans or Credit Card from RAKBANK and other banks.
  • The Bank may close the Account if KYC or identification documents are not updated regularly, or if required as internal policies or upon request from regulatory / judiciary entities.
     

You are required to:

  • Review this document and all other terms & conditions set out in the Account opening application form in detail;
  • Regularly check our website www.rakbank.ae for updates;
  • Notify the Bank in writing if there is a change in your contact details, business ownerships, residence status, identification details, financial details or any other material information as declared in the application form; and
  • Always safeguard sensitive banking details such as Account number, cheque book, debit card, login ID, passwords, pin
  • number etc.
     
  • The Bank may amend the features, fees, charges, terms & conditions of the Account on 60 days’ notice to you in advance.
  • The Bank may amend the interest rates for the Account on 30 days’ notice to you in advance.
  • If the Account is not used for a period of 1 year, it will be designated as inactive and you will not be able to transact unless activated again.
  • If the Account balance is not sufficient to settle outstanding dues, these will be recovered as and when the Account is funded or alternatively from any other a/c held by the customer with the Bank.

 

Warnings

  • Current Accounts in AED and USD are interest bearing, & in GBP is non-interest bearing; while JPY (Japanese Yen), CHF (Swiss Franc), and EURO (Euro) are impacted by the market rates and are subject to negative interest charges that are fixed.
  • The Bank may close the Account if KYC or identification documents are not updated regularly, or if required as internal policies or upon request from regulatory /judiciary entities.
Contact Us
 SMS ' Business' to 7011
 042130000

Click here to view our latest business promotions

Welcome to RAKBANK Chat

Chat Live with our customer service representative for queries and support

*Disclaimer

  • No information will be disclosed on live chat for your existing products if the chat is not authenticated on this session.
  • If you would like to discuss confidential information with an agent, you will need to login and authenticate the chat.
  • For security reasons, kindly close the chat window immediately after chat is completed.
  • Your chat sessions may be recorded for our training and quality assurance programme.

Share your Feedback

All growing businesses need a flexible business account