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Home Finance

Home Finance is the most flexible, affordable and easiest way to finance the purchase of property in Abu Dhabi, Dubai and Ras Al Khaimah.

  • Variable Rate from Day 1 starting 3M EIBOR + 1.20% to 3M EIBOR + 1.99% reducing p.a.
  • Attractive option of 3 Years Fixed Rates for Salaried and Self-employed customers starting from 5.09% p.a. to 5.39% reducing rate p.a. Follow on rates after expiring the fixed rate period starting from 3 months EIBOR + 1.79% to 3 months EIBOR + 2.19%
  • No In Principle Approvals (IPA) fees
  • 0% Processing Fee for Buyout loans
  • 0.50% Finance Processing Fee for Salaried Customers and 0.75% for Self Employed Customers
  • Special discounted evaluation fees of AED 1,850 
  • Attractive discounts on Life Takaful at 0.0242% p.m. + VAT as applicable
  • Bundled Emirates Skywards World Elite Credit Card offered with the finance
  • Low and affordable Home Finance variable rental rates
  • Finance available on most ready projects with Title Deeds
  • Minimum formalities and fast approvals
  • High Finance amounts

RAKislamic is committed to providing you with the knowledge and tools necessary to ease the entire home buying procedure and to make buying a home in Abu Dhabi, Dubai and Ras Al Khaimah as stress free and convenient as possible.

Please spend a few minutes browsing our fredquently asked questions for essential information on Home Finance.

For more information on our latest offers, please call us on 04 - 213 00 00 or email us at [email protected]

Home Finance Centres are available at the following locations:

  • Abu Dhabi: Al Jazeera Sports & Cultural Club
  • Dubai: Um Hurrair Branch (Diagonally opposite Burjuman Centre), Emaar Business Park Branch
  • If you fail to make any payment due under the Finance or otherwise breach our terms, you will lose the vehicle mortgaged to the Bank as a result of the mortgage enforcement proceedings that we may take.

You need to:

  • Pay all installments and other amounts due on the due dates without delay.
  • Review this document and all other terms & conditions set out in the 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 employment or income details, contact details, residential status, identification details, financial details or any other material information as declared in the application form.
  • 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 with prior notice of 60 days to you.
  • The Bank may amend the profit rates for the Finance on 30 days’ notice to you in advance.



  • 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 default profit 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 a default and the Bank will be entitled, among other things, to:
    • (a) cancel the Finance and demand full repayment immediately
    • (b) 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
    • (c) bring legal proceedings against you and repossess the mortgaged property.
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