RAKBANK provides businesses in UAE with Machinery Loans for help meet business requirements for new and used machines.


Business Machinery Loans in UAE - RAKBANK

Machinery Finance

Invest in machinery and commercial assets to expand your business


Machinery Finance - Up To AED 3 Million 

Get a loan amount of up to AED 3 million and make your dream purchase a reality! Whether you're looking to upgrade your current equipment or expand your operations, our Machinery Financing Loans are designed to help you achieve your goals.

Up to AED 3 million 

<ul>
<li style="font-weight: 400;" aria-level="1">It is mandatory to have a Current Account with the Bank, from where the installment/ EMI will be serviced. Use of the current account will be governed by the Terms and Conditions Governing Business Accounts available on the website www.rakbank.ae.</li>
<li style="font-weight: 400;" aria-level="1">Pay all instalments and other amounts due on the due dates without delay.</li>
<li style="font-weight: 400;" aria-level="1">Review the Key Fact Statement document and all other terms &amp; conditions set out in the Facility Documents / application form in detail.</li>
<li style="font-weight: 400;" aria-level="1">Regularly check our website (www.rakbank.ae) for updates.</li>
<li style="font-weight: 400;" aria-level="1">Always safeguard sensitive banking details such as a/c number, cheque book, Debit Card, login ID, passwords, pin number etc.</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing prior to making any changes to ownership or management of the Company as was declared during the application process and seek consent; and</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing if you wish to prepay your Loan prior to its maturity.</li>
</ul>

Machinery Finance - Customer Rights & Obligations

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Machinery Finance - Terms and Conditions

6 months turnover >=AED 500K

ELIGIBILITY & FEES

Secure your loan today

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RAKBANK provides point of sales finance services for retailers who want to expand their business.


Point of Sales Finance for Business - RAKBANK

Point of Sales & E-Commerce Finance

Point of Sales & e-commerce Finance

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Machinery Finance - Your financing partner

Loan Features

Unlock your SME's growth potential and expand your business by investing in machinery and other commercial assets. Benefit from a loan of up to AED 3 Million with a Machinery Finance tailored to suit your specific needs.

Your financing partner

 Key Fact Statement

Service & Price guide

Terms & Conditions

Machinery Finance - Relevant links

Machinery Finance - Al Etihad Credit Bureau check fee

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Minimum loan AED 100K

Segment - Business

Partial or full early settlement of loan (% of settled amount)

Machinery Finance - Partial or full early settlement of Loan (% of settled amount)

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Machinery Finance - Eligibility

Eligibility

Interest rate: 5.5% to 8%

Floating Rate

Apply for a business loan on RAKBANK & get a loan up to AED 3 million with flexible repayment periods of up to 60 months to expand your business now!


Business Loan | Business Loan in Dubai | RAKBANK

Business Loan

Expand your business with a flexible, collateral-free loan

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Machinery Finance - Help Card

<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms &amp; conditions of the Loan on 60 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the interest rates for the Loan on 30 days&rsquo; notice to you in advance.</li>
</ul>

Machinery Finance - Key Terms & Conditions

Machinery Finance - Would you like more?

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Machinery Finance - Cross Sell

Requirements & Eligibility:

<ul>
<li aria-level="1">Valid trade licence</li>
<li aria-level="1">Valid passport, Emirates ID, visa (for all signatories and shareholders)</li>
<li aria-level="1">Bank statements, VAT filings</li>
<li>Other business documents, such as constitutional documents &amp; account mandates viz memorandums, shareholders resolution, etc.</li>
<li>Company location documents such as Ejari, lease agreement, etc applicable to your company</li>
<li>Other banking or lending assessment information / documentation (if and as applicable)</li>
<li>Capacity to meet the Bank&rsquo;s lending criteria</li>
</ul>

Machinery Finance - Term loan

Machinery Finance - Terms And Conditions

Terms and Conditions

<ul>
<li>Customer contribution towards machinery procurement to be confirmed in order to proceed with the approval.</li>
<li>Once the loan is disbursed, the Bank will pay the asset supplier directly, or alternatively place the disbursed.</li>
<li>The last EMI amount may vary depending on the moratorium period, changes in the floating rate indices, and repayment delays.</li>
<li>Loan tenor may vary post sanction depending on EMI deferrals sought from the bank, EMI date change requests, repayment delays and pricing variation, if any.</li>
<li>If you fail to make any payment due under the loan or otherwise breach our terms, we reserve the right to repossess the asset, if applicable and liquidate/sell the same to settle the outstanding amount.</li>
<li>Not more than 2 deferrals of instalments are allowed in a year.</li>
<li>The bank may reject requests for Instalment deferral if payments are irregular or if there are 4 cheque/direct debit system (DDS) returns in the last 12 months or if the request does not meet its internal risk policy requirements.</li>
</ul>

Machinery Finance - Risks & Limitations

Machinery Finance - Flexible repayment

We know that unexpected expenses can pop up at any time. That's why we offer flexible repayment options to help ease the pressure of loan repayment. With us, you'll have up to 60 months to repay your loan, giving you the time and flexibility you need to manage your finances and stay on top of your payments. 

Flexible repayment

Max loan tenure 48 months

Machinery Finance - Fees

You can apply for this product using <a href="https://rakbankonline.ae/Digital/AuthenticationController?FORMSGROUP_ID__=AuthenticationFG&amp;__START_TRAN_FLAG__=Y&amp;__FG_BUTTONS__=LOAD&amp;ACTION.LOAD=Y&amp;AuthenticationFG.LOGIN_FLAG=1&amp;BANK_ID=RAK&amp;USER_TYPE=1" target="_blank" rel="noopener">RAKBANK Digital Banking</a>. Here are the steps: 1.Go to&nbsp;<a href="http://www.rakbank.ae/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=http://www.rakbank.ae&amp;source=gmail&amp;ust=1687508562826000&amp;usg=AOvVaw02TXDJiNUympHIWw84JK-0">www.rakbank.ae</a> 2.Select the &ldquo;Business&rdquo; from Digital Banking login type 3.Login using your Username &amp; Password 4.Click on "Discover &amp; Apply" 5.Select the desired product

Business - Apply through Digital Banking

Log in to RAKBANK Digital Banking and apply instantly

Apply through Digital Banking

Machinery- Emirates Integrated Registries Company

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<ul>
<li>The approval of the loan is only valid for 30 days from the date of approval. We advise you to complete your loan disbursal as quickly as possible within that time frame. failing which re-approvals need to be sought internally.</li>
<li>If you pay off your loan prior to the due date, a repayment charge will be applicable.</li>
<li>If you are late for a payment or fail to make a payment on its due date, a late payment fee will be applicable.</li>
<li>If you fail to make a payment or breach the terms of this loan, the bank will by default be entitled to:</li>
</ul>
(a) a penal interest charge of 2% p.a. for non-compliance to the loan&rsquo;s sanction terms
(b) cancel the loan and demand full repayment immediately
(c) report the default to the appropriate regulatory authorities, including the UAE Central Bank and Al Etihad Credit Bureau, and credit-rating agencies, which will affect your credit rating
(d) bring legal proceedings against you

Machinery Finance - Important information

* Per security document
Interest:
&nbsp;
<ul>
<li>Net interest rate for the Loan ranges from 18% to 22% reducing per annum. The interest rate will be linked to the Bank internal rate &ndash; SME Prime Rate.</li>
<li>The SME Prime Rate is currently 15.50% p.a. and is subject to change from time to time at sole discretion of the Bank.</li>
<li style="font-weight: 400;" aria-level="1">&nbsp;Any change to the SME Prime Rate is notified/published in the UAE newspapers or at RAKBANK Branches or RAKBANK&rsquo;s website at <a href="/en/">www.rakbank.ae</a> as decided by the Bank from time to time. The net interest rate, as offered for each Loan, will however be determined basis the company profile, as assessed.</li>
</ul>
&nbsp;
For additional information, kindly refer to the service and price guide located in the relevant links section below.
Other fees:
<ul>
<li aria-level="1">Processing fee (if any) at the time of onboarding will be quoted as a percentage of the loan amount, but not exceeding 2%</li>
<li aria-level="1">Late payment fee if the EMI due is not paid by the due date:</li>
<ul>
<li aria-level="2">1 EMI overdue - AED 315</li>
<li aria-level="2">2 EMIs overdue - AED 420</li>
<li aria-level="2">Over 2 EMIs overdue - AED 577.50</li>
</ul>
</ul>
Disclaimer:
VAT at the current rate of 5% will be levied on the Bank's fees and charges, as applicable under UAE law.

Fees

Apply Online - Business finance

Take your business further through our easy Business Finance Solutions

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Up to AED 3 million

Up to AED 3 Million

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Machinery Finance - Terms and Conditions Notification

Important Information 

Buyout from other banks

Machinery Finance - Issuance of Liability Certificate

Machinery Finance - Need-based finance

Our team is dedicated to helping you find the financing solution that's right for you. That's why we conduct a thorough financial assessment based on the specific machinery you need, ensuring that you get the support you need to grow your business efficiently and effectively. 

Need-based finance

Not sure about something? Check our frequently asked questions to find what you’re looking for.

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FAQs

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Benefits

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Machinery Finance - With Salary Transfer

Minimum balance

Length of Business: 1 year

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Machinery Finance - Loan Shield protection

With our Loan Shield facility, you can have peace of mind knowing that your business is protected in the event of the unexpected. In the case of death of a borrower during the coverage period, the Loan Shield will indemnify the outstanding loan amount. 
 
This means that your business won't have to worry about the burden of repaying the loan during such a difficult time.

Loan Shield protection

Collateral Free

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Download the RAKBANK Business app!

Simplify your banking experience with our feature-rich app. From payments to payroll, our comprehensive Banking Solutions provide everything you need to manage your business finances from one secure and easy-to-use platform.

Loan Features

Your financing partner

ELIGIBILITY & FEES

Secure your loan today

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Relevant links

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