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RAKislamic Current Account
Based on the Sharia concept of Qard Hassan, the Current Account that helps you manage all your day-to-day banking needs with ease, thanks to the award-winning service from RAKBANK.
Convenience
With the Current Account, you can manage your payments with ease with a Cheque book (AED Accounts only). You can open your Current Account in multiple currencies namely AED, USD, GBP and EUR. You will also get Monthly Statements / E-Statements.
Easy to maintain minimum balance
The low minimum average balance makes opening and maintaining your Current Account easy and convenient.
Personal Accounts
| Currency | Minimum Average Monthly Balance | Fee |
|---|---|---|
| AED | 3,000 | 25 AED |
| USD | 3,000* | 25 AED |
| GBP | 3,000* | 25 AED |
| Euro & Others | 3,000* | 25 AED |
*Amount is in AED.
Foreign Currency Services
| Currency | % p.a. |
|---|---|
| USD | NIL |
| GBP | NIL |
| EURO | -1.00 |
| CHF | -2.00 |
| JPY | -0.60 |
Foreign currency services is accrued daily and applied monthly.
Note: Above rates effective 1st July, 2020.
Company Accounts
| Currency | Minimum Average Monthly Balance | Fee |
|---|---|---|
| AED | 20,000 | 100 AED |
| USD | 10,000 | 25 USD |
| EUR | 10,000 | 25 EUR |
| GBP | 10,000 | 25 GBP |
Banking anytime and anywhere
Our free online, SMS, phone and mobile banking services give you simple and secure banking on the go:
- Click and Easy banking with Online Banking (register now at www.rakbank.ae)
- RAKdirect Number 600 54 0044
- SMS alerts through your mobile phone
- Mobile banking
Terms and Conditions apply
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.
