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First Quarter Profit Rates 2023

Declared Profit Rates* for the First Quarter ending 31st March 2023 are as follows:

 

AED USD
Amount Slabs Advantage Profit Rate Amount Slabs Advantage Profit Rate
50,000 - 99,999 0.10% 500,000 - 999,999 0.15%
100,000 - 249,999 0.15% 1 Mio and above 0.25%
250,000 - Above 0.35%    

 

AED USD
Slabs Profit Rates Slabs Profit Rates
500K up to 4.99 Mio 0.10% 500,000 - 4.99 Mio 0.10%
5 Mio up to 14.99 Mio 0.15% 5 Mio to 9.99 Mio 0.15%
15 Mio and above 0.25%(Average balance) 10 Mio and above 0.25%(Average balance)

 

Currencies Profit Rate
AED 0.25%
USD 0.25%
GBP 0.25%
EUR* Nil
CHF* Nil
JPY* -0.60%

Accounts in JPY are based on Qard Hassan and not part of Mudaraba Foreign currency services is accrued daily and applied monthly.

 

Currencies Profit Rate
AED 0.25%

 

Currencies Profit Rate
AED 0.10%
USD 0.10%
GBP Nil
JPY -0.60%
EUR Nil
CHF Nil

Accounts in EURO, CHF and JPY are based on Qard Hassan and not part of Mudaraba Foreign currency services is accrued daily and applied monthly.

 

AED RAKislamic Term Investment Deposit Profit Rate
Islamic Amount Slabs 1 to 2 months 3 to 5 months 6 to 11 months 1 year-up to 2 years
`> =25k - 99.99k 0.05% 0.10% 0.15% 0.20%
`> =100k - 499.99K 0.05% 0.10% 0.15% 0.30%
`> =500k - 999.99K 0.05% 0.10% 0.25% 0.40%
`> = 1 Mio - 4.99 Mio 0.05% 0.10% 0.25% 0.50%
`> =5 Mio - 10 Mio 0.10% 0.20% 0.35% 0.60%

 

USD RAKislamic Term Investment Deposit Profit Rate
Islamic Amount Slabs 1 to 2 months 3 to 5months   6 to 11 months 1 year-up to 2 years
`> =25k - 99.9K 0.00% 0.00% 0.00% 0.00%
`> =100k - 500K 0.05% 0.10% 0.15% 0.20%
`> =500k - 1Mio 0.05% 0.10% 0.15% 0.30%
`> = 1 Mio - 2.72 Mio 0.10% 0.15% 0.20% 0.40%

  

Term Investment Deposit amounts below AED 25K and USD 100K and slabs for tenor below 1 Month, are non participants in Mudaraba Pool.

For Deposit amounts in excess of AED 10 Mio and for deposit tenors 2 years and 3 years, please visit any RAKBANK branch. Applicable for New and Existing Deposits placed with Auto Renewal Instruction.

*The above rates should not be taken as any prediction, projection or forecast as to the future or likely performance of the accounts.

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