RAKbooster

• Increase your savings and enjoy monthly interest rates of up to 0.75% p.a.
• Earn 0.50% 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 0.50% 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.

• Customer must have an active RAKBANK current or savings account and access to Digital Banking for transacting in this account.
• 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. Utility payments should be performed through Digital Banking
• Account is offered in AED and USD currencies. Minimum amount required to earn interest is AED 25,000 or USD 50,001.
• Amounts over AED 25 Million or USD 6.5 Million will not earn interest on the excess amounts.
• In addition to the interest not being paid in case the permissible withdrawal/payments is exceeded, bonus interest will also not be paid.
   

You are required to:

• Maintain a monthly minimum balance for RAKbooster Account of AED 3,000. Ledger fee of AED 25+VAT will be applicable if minimum monthly balance is not maintained. 
• Ensure any other RAKBANK transaction account and access to Digital Banking is kept active to avoid interruption / closure of this Account.
• Review 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; and
• Always safeguard sensitive banking details such as a/c number, cheque book, Debit Card, login ID, passwords, pin number etc.