RAKbooster

• Increase your savings and enjoy monthly interest rates of up to 1.00% p.a.
• Earn 0.25% p.a. bonus if below conditions are met:
   
  1. Monthly interest is credited to the account for each preceding 3 months
  2. No debit transaction performed in the preceding 3 months
  3. If bonus is not already credited during the preceding 3 months
• Earn an additional 0.25% p.a. bumper bonus if below conditions are met:
   
  1. Monthly interest is credited to the account for each preceding 12 months
  2. No debit transaction performed in the preceding 12 months
  3. If bumper bonus is not already credited during the preceding 12 months
• You can open a RAKbooster Online Savings Account in AED or USD
• Interest for your RAKbooster Savings Account is calculated daily and paid monthly.

Effective 1^st November 2020:

• Terms and conditions governing Personal Accounts and Digital Banking service will apply
• Interest payout on intra month closure of account will be as per Bank’s policy
• Interest accrual below AED 10 will not be paid
• 1 withdrawal and / or 5 Utility* / RAKBANK Credit Card payments allowed per month to be eligible for monthly interest as per the above mentioned Interest Rates table. If customer exceeds count of permitted transactions in a month (1 withdrawal and/or 5 Utility* / RAKBANK Credit Card payments) then no interest will be payable for that month. Please note, bonus is not paid if there is any debit transaction in the account.
• Minimum amount required to earn interest is AED 25,000
• Monthly minimum balance for RAKbooster Account is AED 3,000. Ledger fee of AED 25+VAT will be applicable if minimum monthly balance is not maintained.
• RAKbooster Savings Account can be operated only through Digital Banking
• RAKbooster Savings Account can be active only in conjunction with a current or savings account. If no current or savings account is held, then the bank may close the RAKbooster Savings Account at its discretion

 *Utility payments should be performed through Digital Banking.