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Home Loan Provided By Rakbank
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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 information provided on this website does not constitute the marketing of any products or services to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Marino, San Marino, Vatican and Isle of man. The content on this website 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. Find your nearest Citi branch: www.findmyciti.com/ae/. Call us at: +971 4 311 4000.
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Check Eligibility for Rakbank Home Loan
Rakbank Home Loan Calculator
Features of Rakbank Home Loan
- Bank Balance Linking (To Reduce the Rate of Interest)
- Instant access to funds
- Offers All Current Account Facilities (including Debit Card, Cheque book & Net Banking)
- Flexible EMI, tenure and interest rates
Eligibility Criteria of Rakbank Home Loan
- Minimum Age: 21 Years
- UAE Residency
- Salaried/Self Employed Individuals (Need Proof of Income)
Documents Required of Rakbank Home Loan
- Copy of Valid Passport
- Copy of VISA (For Expats)
- Copy of Emirates ID (For UAE Nationals)
- Originals Salary Certificate(For Salaried)
- Proof Of Income(For Self-Employed)
- Bank statements of active bank account from past six months
- All relevant property details
- Audit financials (For Self-Employed)
Note: RAKBANK may ask for more documentation if necessary.
Rakbank Home Loan Interest rates
3 Rakbank Bank Home Loans
Frequently Asked Questions
⭐ For how long the fixed interest rate will be charged on the home loan?
A. The fixed interest rate is charged for 3 years on the RAKBank home loan.
⭐ Can I get a pre-approval of the home loan?
A. Yes. You can get a pre-approval of the home loan from RAK Bank.
⭐ What are the fees charged for the pre-approval?
A. RAK Bank provides pre-approval for free on their home loan in the UAE.
⭐ What are the processing fees charged?
A. The processing fee charged on RAK Bank home loan is 1%. For all the customers, RAK Bank offers a 50% discount on the processing fees(This is valid till September 30, 2019).
⭐ Can I transfer my existing mortgage loan to RAK Bank?
A. Yes. You can transfer your existing mortgage loan in Dubai, UAE to RAK bank.
⭐ What will be processing fees if I transfer my existing mortgage to RAK Bank?
A. For the customers who transfer their existing mortgage loan in UAE to RAK Bank, there are no processing fees charged.
⭐ What is the minimum salary required?
A. The minimum salary required for a RAK Bank home loan is AED 15000.
⭐ What is the repayment period provided?
A. The repayment period provided on RAK Bank home loan is 25 years.
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. It works with a vision to provide ‘simply better’ financial solutions to its customers in and around the UAE’ and a Mission to be the leading bank in the UAE by offering best products.
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