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RAKvantage

RAKvantage is a high interest rate bearing account offered in AED/USD. It is a variant of Current Account available for UAE residents and GCC Nationals.

This account is offered to RAKselect & RAKelite customers.

  • Unlimited FREE cheque books and drawings
  • Instant account access for bill payments and account transfers through RAKdirect our 24-hour telephone banking service

 

Balance Amount Interest Rate (Per Annum)
50,000 - 99,999 0.10%
100,000 - 249,999 0.15%
250,000 and above 0.35%

Effective from 10th August 2020

 
Balance Amount Interest Rate (Per Annum)
500,000 to 999,999 0.15%
1 Million and above 0.25%

Effective from 10th August 2020

  • The minimum average monthly balance is AED 3,000 (Or equivalent in USD). If this balance is not maintained, a fee of AED 25 (Or equivalent in USD) will be levied. 
  • Interest is calculated daily and paid monthly

Note: If interest payable is less than AED 10 or USD 3, then no interest will be credited.

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.

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  • RAKdirect Number 600 54 4049
  • Phone Banking 042130000