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Current Account in UAE

RAKBANK’s Current Bank Account with a low minimum balance, and a choice of local and international currencies, makes it an attractive option.

  • Dirham, US Dollar, Euro or Pound Sterling – you choose the currency for your Current Account. Other currencies may be approved upon request
  • Get a Cheque book for AED account
  • FREE Debit Card, which gives you 24/7 global access  through any MasterCard ATM
  • Monthly current account statements detailing all transactions

You need to maintain a minimum average monthly balance in your RAKBANK Current Account. If not, the following fees in the currency of the account will be incurred.

Personal Accounts 

Currency Minimum Average Monthly Balance Fee
AED 3,000 25 AED
USD 3,000* 25 AED
GBP 3,000* 25 AED
Euro & Others 3,000* 25 AED

*Amount is in AED.

Interest Rates - Effective 1st July 2020

Currency Interest (% p.a.)
AED NIL
USD NIL
GBP NIL
JPY -0.60
EURO -1.00
CHF -2.00

Interest is accrued daily and applied monthly.

A salary transfer letter is required as additional documentation for customers opening the account for salary transfer purpose.

In line with the UAE’s Value Added Tax (VAT) implementation from 1st January 2018, VAT at the rate of 5% will be levied on RAKBANK’s fees and charges specified herein, wherever applicable and as per UAE law.

*Note: Verification Image text is case sensitive

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