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Auto Finance

Auto Finance ensures minimum formalities and flexible repayment periods, that will put you in the driver’s seat quickly and conveniently.

  • Low profit rate ranging between 2.85% to 3.55%  for salaried customers and 2.95% to 4.99% (flat rate p.a) for self employed customers
  • Preferential Profit rates for new and used electric vehicles starting from 2.79% for salaried customers, 2.99 %for self-employed customers, and 3.65% for business customers (flat rate per annum)
  • No salary transfer needed for salaried customers
  • First installment after 60 days
  • Flexible repayment periods up to 60 months

  • No hidden charges
  • Offer is valid until further notice

  • We provide auto finance for the following vehicle categories:
    1. New and used cars
    2. Sports and luxury cars
    3. Light commercial vehicles such as buses, pickups and trucks
  • 1% Due Diligence, Documentation and Processing Fees for individual customers (Minimum of AED 500 and maximum of AED 2500)
  • 1.5% Due Diligence, Documentation and Processing Fees for business customers (Minimum of AED 2500 and maximum of AED 7500)
Abu Dhabi & Al Ain Branches
Airport Road
Al Ain
Al Jazira
Al Corniche
Dubai, Sharjah & Ajman Branches
Sharjah Industrial
Fujairah (Auto Finance Centre)
Sharjah Rolla
Al Quoz (Auto Finance Centre)
Sheikh Zayed Road
Dragon Mart
Deira Maktoum
Al Ghusais
Umm Hurair
Oud Metha
Ras Al Khaimah Branches
Al Nakheel
Al Kharan
Al Mannai
Al Madinah
Al Dhait
Al Rams
  • Only 2 deferrals are allowed in a year one month at a time subject to minimum 6 installments repaid since the finance was availed 
  • Installment deferral cannot be given if payments are irregular or if there are 4 cheques / Direct Debit System (DDS) returns in the last 12 months or if the request does not meet the Bank’s internal risk policy requirements.
  • 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 vehicle.
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