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Frequently Asked Questions

Service Finance

Service finance is a finance facility based on the Sharia compliant Service i.e. Ijarah Contract. This product is designed for customers who require short term finances such as Education and Rent in a Shariah compliant manner

It is an agreement to use services provided by a person/institution in return for an agreed compensation.  It is a contract to lease the benefit of utilizing a service, at a fixed price, for a fixed tenor and the service has to be Intangible.

  • Education Finance (School and University)
  • House rent


The minimum age requirement for UAE nationals is 20 years and 6 months, and for expatriates is 21 years.

On approval of your finance, a free Takaful cover up to the value of the acquired finance is provided. This is to protect your family in the event of any unforeseen circumstances such as death or permanent disability. Terms and conditions of the bank apply and will be shared with you at the time of signing your application

Yes, subject to a confirmation of your employment by your employer and subject to the bank’s approval for your finance request

The length of business for a company should be 1 year old

Minimum salary is AED 15000/- for salaried individuals.

Please visit your nearest RAKBANK branch or contact us on 600 54 0044 to apply.