RAK Bank Personal Bank
Islamic Finance:
Minimum
Salary:
Salary
Transfer:
Maximum
Term:
Introductory
Offers:
Flat Rate:
Reducing
Rate:
Features:
·
RAK Bank Personal Bank Features
·
You require a minimum
salary of AED 5,000 per month to be eligible.
·
This rate is
calculated on a reducing balance
·
The reducing rate of
this finance is 8.99% and the equivalent flat rate is 4.9%. The calculation
used is a division of the reducing rate by 1.814 and this is indicative only.
·
The rate starts at
8.99% and goes up to 15%. It varies depending on customers profile.
·
The processing fee is
1% of loan amount [Min AED 500; Max AED 2,500].
·
Loan repayment period
is up to 48 months [60 months for Armed Forces employees]; Up to AED 650,000
based on salary and length of services and for UAE National the loan can go up
to 2,500,000.
·
The early settlement
fee is 1% of outstanding amount
·
It is a requirement to
transfer your salary to apply
RAK Bank Personal Bank Key Features
·
Quick approvals
·
Competitive interest
rates
·
Flexible repayment
periods of up to 48 months
·
Top up loan after 1
year
·
Easy does it!
Hassle-free loan takeovers from other banks
·
FREE RAKBANK Debit
Card and personalized cheque book*
·
FREE RAKBANK Credit
Card with no annual fee ever and low interest rates
·
24-hour, 7-day Phone
Banking services
·
Easy documentation
RAK Bank Personal Bank More Info
