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Construction Equipment

Business Equipment Finance offers businesses like yours a wide range of advantages on finance for a broad range of assets.

  • High finance amounts up to AED 35 million
  • Highly competitive rates
  • Finance available for new/used Assets
  • Refinancing available for your existing mortgage free assets
  • Take-over option also available at competitive rates
  • Flexible repayment periods of upto 48 months
  • Funding up to 90% FTV across a wide array of brands and vehicles
  • Available for a 2 year old company
  • Quick approvals

Financing under the Islamic principles of Sharia

  • Customer contribution towards machinery procurement to be confirmed in order to proceed with the approval.
  • Once the finance is disbursed, the Bank will pay the asset supplier directly, or alternatively place the disbursed funds under lien till such time the details to pay the supplier are in order. However profit will continue to apply on the full finance outstanding even if part or all of the finance proceeds are under lien.

  • Last Monthly Commitment amount could vary depending on moratorium period, changes in floating rate indices and payment delays.
  • If you fail to make any payment due under the Finance 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.
  • Not more than 2 deferrals of Monthly Commitment are allowed a year.
  • The Bank may reject requests for Monthly  Commitment 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 the Bank’s internal risk policy requirements.

You need to:

  • Pay all Monthly Commitment and other amounts due on the due dates without delay;
  • Review this document and all other terms & conditions set out in the Facility Documents / application form in detail;
  • Regularly check our website www.rakbank.ae for updates;
  • Notify the Bank in writing if there is a change in your business income details, contact details, postal or location address, financial details, change in business activity or any other material information as declared in the facility documents / application form or otherwise conveyed to the Bank;
  • 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
  • Notify the Bank in writing if you wish to prepay your /finance prior to its maturity.
  • The Bank may amend the features, fees, charges, terms & conditions of the Finance on 60 days’ notice to you in advance.
  • The Bank may amend the profit rates for the Finance on 30 days’ notice to you in advance.



  • An approval for the Finance once sanctioned is only valid for 30 days from the date of approval, and the Finance disbursal must be completed before that so as not to lose time, failing which re-approvals  need to be sought internally.
  • The appointed Agent shall sign the relevant documents and undertaking on your behalf as per Salam structure.
  • If you pay off the Finance prior to the due date, you will pay prepayment charges at the rates described in the Service & Price Guide. 
  • If you are late in payment or fail to make a payment on the due date, you will pay a donation fee at the rates described in the Service & Price Guide. 
  • If you fail to make a payment, or otherwise breach the Finance terms, this will be considered a default and the Bank will be entitled, among other things, to:
    • (a) Charge a donation amount of 2%p.a. for noncompliance to finance sanction terms;
    • (b) Cancel the Finance and demand full delivery of the outstanding commodities 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.

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