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Second Quarter Profit Rates 2021

Declared Profit Rates* for the Second Quarter ending 30th June 2021 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 and above 0.35%    

 

AED USD
Slabs Proposed Rates Slabs Proposed Rates
1 Mio up to 4.99 Mio 0.10% 500,000 to 4.99 Mio 0.10%
5 Mio up to 14,999,999 0.15% 5 Mio to 9,999,999 0.15%
15 Mio and above 0.25%(Average Balance) 10 Mil and above* 0.25%(Average Balance)

*Weighted Average Balance Calculation Method

 

Currencies Profit Rate
AED 0.25%
USD 0.25%
GBP 0.25%
EUR* -1.00%
CHF* -2.00%
JPY* -0.60%

"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."

 

Currencies Profit Rate
AED 0.25%

 

Currencies Profit Rate
AED 0.10%
USD 0.10%
GBP No Profit Paid
JPY -0.60%
EUR -1.00%
CHF -2.00%

"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."

 

  1 month 3 months 6 months 12 months
25k up to < 100k 0.05% 0.10% 0.15% 0.20%
100k up to < 500k 0.05% 0.10% 0.15% 0.30%
500k up to < 1 Mio 0.05% 0.10% 0.25% 0.40%
1 Mio up to < 5 Mio 0.05% 0.10% 0.25% 0.50%
5 Mio up to - 10 Mio 0.10% 0.20% 0.35% 0.60%

 

  1 month 3 months   6 months 12 months
>=25k - 99.99k 0.00% 0.00% 0.00% 0.00%
>=100k - < 500k 0.05% 0.10% 0.15% 0.20%
>=500k - < 1 Mio 0.05% 0.10% 0.15% 0.30%
>=1 Mio -  2.72 Mio 0.10% 0.15% 0.20% 0.40%

  

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

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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