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I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The products and services mentioned on this website are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK. This page is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
RAKBANK Mortgage Home Loans
Mortgage Home Loans
- Provides high loan amount
- Both UAE Nationals and Expats are eligible
- Life and Property Insurance is mandatory
- Minimum salary of AED 15000 is required
- Fixed rate of the RAKBank Mortgage loan is 1.78%
- RAK Bank mortgage loan is provided at an interest rate of 3.25% on reducing basis
- Salary transfer is not mandatory
- Maximum tenure the loan is provided for is 25 years
- The processing fee is 1% of the loan amount
- Maximum finance of AED 18000000 is provided
- Down payment of 20% is required for UAE Nationals
- Down payment of 25% is required for Expats
- 1% of the loan amount is charged as early settlement fees
- The interest rates depends on EIBOR
- Provides proper guidance before opting for a particular home loan
- No additional charges are added for providing approval in-principle of loan
- High finance is provided
- Quick approval and hassle-free documentation
- Low interest rates
- Flexible payback options
- Salary transfer is not mandatory
- Provides life insurance and property insurance at competitive rates
Frequently Asked Questions
⭐ What is the maximum finance for Mortgage loan provided?
A. Maximum finance for a Mortgage loan is AED 1800000.
⭐ I’m not a RAKBank customer. Am I eligible for a mortgage loan?
A. Yes, you are eligible to apply for a Mortgage loan at RAKBank.
⭐ Can I get a mortgage loan for a commercial property?
A. Yes, RAKBank provides mortgage loan for few commercial properties in Dubai.
⭐ I’m not a resident of UAE. Can I apply for RAKBank mortgage loan?
A. Non-Residents of UAE are eligible to apply for a mortgage loan in RAKBank for purchasing a property in Dubai, Abu Dhabi, and Ras Al Khaimah.
⭐ Should I transfer my salary to RAKBank?
A. No, Salary transfer is not mandatory.
⭐ I’m 22 years old. Am I eligible for a mortgage loan?
A. Yes, the age limit to apply for a mortgage loan in RAKBank is 21 years to 65 years.
⭐ Is salary certificate a mandatory document to apply for a mortgage loan?
A. Yes, for salaries customers salary certificate is a mandatory document.
⭐ I already have a mortgage loan in another bank. Can I transfer it to RAKBank?
A. Yes, RAKBank provides buyout loan facility.
⭐ What is the minimum salary required for RAKBank mortgage loan?
A. For both UAE Nationals and Expats the minimum salary required is AED 15000.
Get in touch with RAKBANK Customer Care