RAKBANK RAKfinance Loan

Zero Balance Free account
rakbank Bank

WarningMessage This product is valid by the Bank

RAKfinance Loan

Max Finance Amount

AED 3000K

Min Annual Turnover

AED 300K

Tenure

60 Months

AED 3000K

Max Finance Amount

AED 300K

Min Annual Turnover

60 Months

Tenure

Features

  • Early settlement fee is 5% of the loan amount
  • Repayment period is up to 60 months
  • Minimum annual sales turnover is AED 300,000 to apply for this finance

Required Documents

  • Copies of passport and visa of the authorized signatories
  • Application form
  • Copies of emirates id and visa
  • Audited financials of last 2 years have to be submitted to the bank
  • Need to provide bank statements of last 6 months
  • Copies of tenancy contract and utility bills

Benefits

  • Finance amount is high
  • Long and flexible repayment period is provided by bank
  • A dedicated relationship manager guides you throughout the process
  • Documentation process is simple and easy
  • Provided with titanium credit card

Frequently Asked Questions

Q. Is my personal information safe while applying for personal loan online?

A. Rakbank has highly secured system. All your information is safe and secured in their system.

Q. Can my business loan application get rejected by Rakbank?

A. Yes, if you don't have good credit history or you don't meet minimum eligibility criteria to apply for business loan, then bank might not approve your loan application.

Q. How does Rakbank decide interest rates for our business loan?

A. Interest rates are decided on the basis of your credit score and your monthly income.

Q. What can be the length of my loan?

A. Depending on ho much is being financed, length of loan can be up to 60 months.

Q. Why is it suggested to refinance your existing loan?

A. It is suggested to refinance your existing loan because interest rates will be charged low in such case.

Rakbank

Established in 1976, RAKBANK or the National Bank of Ras Al Khaimah (P.J.S.C), is one of the oldest banks in the UAE. As a member of the UAE Banking Federation (UBF), RAKBANK follows the Custom Charter as stipulated by the UBF and tries to encourage best practices in the financial services industry. With a Vision to ‘offer ‘simply better’ banking solutions to customers across the UAE’ and a Mission to ‘be the leading bank in the UAE by offering innovative and competitive products’, RAKBANK promises :