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Limited Time Offer!
Easy and Quick Salary Transfer Personal Finances for all your financial needs with Profit Rates starting from 4.99%, attractive discount on finance processing fees, and the option to pay your first installment in up to 120 days.
It gets even better
- Finances available for salaried UAE National customers with salary starting from AED 3,000
- Finance amount up to 20 times your salary
- Option to combine all your existing finances into one finance, under one monthly payment for ease of payment
- Option to avail Salary Advance which allows you instant access to funds via digital banking
Please click here to know more - Option to defer your installment twice per year
- Convenient Top-up finance after 1 year
- Free RAKBANK Debit Card and personalized cheque book*
- Free RAKBANK Credit Card with no annual fee ever and low profit rates
- Easy documentation
- Customers with Salaries of AED 50,000+ will be qualified to RAKBANK Elite and enjoy unmatched benefits
Special Offer – For UAE National Customers (Offer valid till 31st August 2022)
Personal Finance starting from 4.99% (Reducing)
With the option to avail an Auto Finance starting from 2.37% (Flat)
Apply now! SMS UAEPF to 7011
*A personalized chequebook subject to charges as per our Service & Price Guide. Finances are issued at the sole discretion of RAKBANK and are subject to Terms and Conditions
Takaful is provided by SALAMA - Islamic Arab Insurance Company
Special Offer – For UAE Nationals in their first job (Offer valid till 31st August 2022)
Personal Finance starting from 4.99% (Reducing)
Risks and Limitations
- Not more than 2 installment deferrals are allowed in a year.
- 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.
- For a period of consecutive 3 months, if the salary credited to your salary account is less than 75% of the salary or if salary is not credited for consecutive 3 months, you will be obliged to pay 2% per annum above the rate of profit originally agreed until completion/settlement of the Finance.
Customer Obligations
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.
Key Terms and Conditions
- 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.
Warnings:
- For a period of 3 consecutive months, if the salary credited to your salary account is less than 75% of the declared salary or if salary is not regularly credited during these 3 months, you will be obliged to pay 2% per annum above the rate of profit originally agreed until completion/settlement of the Finance.
- If you pay off the Finance prior to the due date, you will pay prepayment charges at the rates described as per the Service and 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.
