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Limited Time Offer!
Easy and Quick Salary Transfer Personal Finances for all your financial needs with attractive 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 until further notice)
Personal Finance starting from 4.99% (Reducing)
With the option to avail an Auto Finance starting from 2.85% (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 until further notice)
Personal Finance starting from 5.19% (Reducing) for Youth Nationals with salary >= 10,000.
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 delivery on the due date, you will pay donation amount 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.
