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Limited Time Offer!

Easy and Quick Salary Transfer Personal Finances for all your financial needs with Profit Rates starting from 5.69%, attractive discount on finance processing fees, and the option to pay your first installment in up to 120 days. 

 

  • 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 

Personal Finance starting from 5.69% (Reducing)
With the option to avail an Auto Finance starting from 2.65% (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 
 

Personal Finance starting from 5.80% (Reducing)

  • 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.

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 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.
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