RAKbooster
The RAKbooster Account gives you more access to your money than any other account of its kind. And it gives a boost to your savings by offering up to 1.25% p.a.
- Increase your savings and enjoy monthly interest rates of up to 0.75% p.a.
- Earn 0.25% p.a. bonus if below conditions are met:
- Monthly interest is credited to the account for each preceding 3 months
- No debit transaction performed in the preceding 3 months
- 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:
- Monthly interest is credited to the account for each preceding 12 months
- No debit transaction performed in the preceding 12 months
- 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.
Interest Rates
Effective 1st April 2021:
|
|
---|---|
Balance Tiers | Interest Rate (p.a.) |
From AED 25K to AED 1Million | 0.25% |
Greater than AED 1Million to AED 10Million | 0.50% |
Greater than AED 10Million to AED 25Million | 0.75% |
Effective 1st April 2021:
|
|
---|---|
Balance Tiers | Interest Rate (p.a.) |
Greater than USD 50k to USD 1.5 Million | 0.15% |
Greater than USD 1.5 Million to 6.5 Million | 0.25% |
Note: Above balances may not earn interest if total accrued interest is below AED 10 or USD 3
Terms and Conditions
- 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
- If interest payable is less than AED 10 / USD 3, then no interest is credited
- 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 or greater than USD 50,000. Amounts over AED 25 Million and USD 6.5 Million will not earn any interest
- 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.