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RAKBiz - Equip
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.
Features and Benefits of our Business Current Account
- 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 April 2020:
| Account Balance slab (AED) | |||
|---|---|---|---|
| From | To | 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 (USD) | |||
|---|---|---|---|
| From | To | 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%* | |
Interest applicable effective 1st March 2020:
| Account Balance slab (AED) | |||
|---|---|---|---|
| From | To | Interest rate | |
| 500,000 | 999,999.99 | 0.25% | |
| 1,000,000 | 4,999,999.99 | 0.35% | |
| 5,000,000 | 14,999,999.99 | 0.40% | |
| 15,000,000 | And above | 0.25%* | |
Interest applicable effective 1st March 2020:
| Account Balance slab (USD) | |||
|---|---|---|---|
| From | To | Interest rate | |
| 250,000 | 499,999.99 | 0.25% | |
| 500,000 | 4,999,999.99 | 0.35% | |
| 5,000,000 | 9,999,999.99 | 0.40%* | |
| 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 on other Currencies
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 |
Account Opening at Etisalat Hello Business Hub
You can also open a Business Account at the Etisalat Hello Business Hub, located in OneJLT between 8am to 5pm from Sunday to Thursday.
SMS ' Business' to 7011
042130000
