Top Business Loans
RAKBANK RAKfinance Loan
- 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
- 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
- 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.