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Express Service

You can now Login to your Digital Banking and avail the benefits of our express processing services for your cash secured guarantee requests up to AED 1 Million for a nominal fee of AED 150/- only!

Submit your requests before 11 am, Sunday to Thursday and collect your guarantee from the selected branch on the same day!

To submit your request, first Log in to Digital banking and select the option Trade Finance Service Requests under the Services Tab.

Pre-Requisites:

Guarantee Collection Branches:

  • Umm Hurair Branch, Dubai
  • Sultan Business Centre, Mezzanine Floor, Oud Mehta, Dubai
  • Tourist Club Branch, Abu Dhabi
  • Sharjah Industrial Area Branch, Sharjah

Open your Business Current Account in just ONE DAY, enjoy easy access to your money, a low minimum balance requirement, and a choice to open your Business Account in local and international currencies. 

How to Apply 
To apply for our Business Current Account using our Express Service visit our Business Banking Centre at office # 120, Sultan Business Centre, Dubai with the basic documentation listed below.

  • Valid Passport & visa of individuals authorised to operate the account.  
  • Valid Passport & visa of all other shareholders / service agent
  • Valid Emirates ID of the signatory(ies)
  • Valid Trade License copy (all pages)
  • Copies of court Notarised Memorandum of Article and amendments if any (LLC) / Articles of Incorporation / Service Agency Agreement (Sole Proprietors with Expat owners) / Partnership Agreement (Partnerships) / Certificate of Incorporation (Free Zone)
  • Share Certificate(s)
  • Chamber of Commerce Certificate
  • Application for Express processing of Business Current Account. Click here to view the application.

Please note: additional documents will be requested on case to case basis.

Cut off – Timings 
Applications submitted from 8.am to 10.a.m from Sunday to Thursday will be processed on the same day.            

The Express service for Business Current Accounts is only valid for Sole Proprietorship, Partnership  &  Limited Liability Company & Free Zone company .

Important:

Account opening would be subject to satisfactory documentation submitted by customers and banks internal approval.

Express service is available only on business working days

 

If your Company’s length of business is more than 2 year and your requirement for finance is up to AED 375,000, you can now simply avail an Express Loan through RAKBANK Business Banking with minimum documentation and shortest possible processing time.

We can also take over your existing Business loan with other bank at attractive terms.

Features and benefits:

  • Fast Track Approval on Express Loan Application
  • Collateral free loan
  • Enjoy  competitive rate of interest
  • Flexible repayment period up to 60 months
  • Finance can be availed in Conventional and Islamic form

How can I apply for the Loan?
To apply send SMS “Business” to 7011 or email us at businessbanking@rakbank.ae

Important:
Consideration of Loan/Finance would be subject to satisfactory documentation submitted by customers and banks internal approval.

In line with the UAE’s Value Added Tax (VAT) implementation from 1st January 2018, VAT at the rate of 5% will be levied on RAKBANK’s fees and charges specified herein, wherever applicable and as per UAE law.