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RAKvantage

RAKvantage is a high interest rate AED/USD Personal Banking account for UAE residents and non- resident GCC Nationals in the UAE.

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

Effective 1st Dec 2019:

Balance Amount Interest Rate (Per Annum)
0 - 9,999 NIL
10,000 - 49,999 0.25%
50,000 - 99,999 0.50%
100,000 - 249,999 0.75%
250,000 and above 1.00%
 Effective 1st Dec 2019:
Balance Amount Interest Rate (Per Annum)
0 to 249,999 NIL
250,000 to 499,999 0.25%
500,000 to 999,999 0.50%
1 Million and above 0.75%

* The minimum average monthly balance is AED 3,000 / USD 10,000. If this balance is not maintained, a fee of AED 25 / USD 25 will be levied. (Note: Effective 1st May, 2011)

Note: If interest payable is less than AED 10 or USD 10, 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.