Check Eligibility for Rakbank
Home Loan

You are eligible to apply for a Rakbank
Home Loan .

You may not be eligible * to apply.

* Minimum salary AED 15000 required to apply for a Rakbank Home Loan .

*No loan for :User_Nationality available in this page

Click here to check from other banks.

Rakbank Home Loan Calculator

Home Loan Provided By Rakbank

Credit Bureau Consent, Welcome Offer & General Terms & Conditions

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.

Address: Citibank UAE, P.O. Box 749, Dubai, United Arab Emirates.

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Check Eligibility for Rakbank Home Loan

You are eligible to apply for a Rakbank
Home Loan .

You may not be eligible * to apply.

* Minimum salary AED 15000 required to apply for a Rakbank Home Loan .

Click here to check loans from other banks.

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

Rakbank Bank

3 Rakbank Bank Home Loans

Home in One

Minimum Salary

AED 15K

Flat Rate

1.92%

Reducing Rate

3.49%

Loan Amount

AED 18000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

Repayments Up To

25 Years

minimum salary

AED 15K

Minimum Salary

flat rate

1.92%

Flat Rate

reducing rate

3.49%

Reducing Rate

loan amount

AED 18000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

20%

Down Payment

repayment

25 Years

Repayments Up To

Advantages
  • Free debit card
  • Free cheque book
  • Avail pre approval on low charges
Advantages
  • Free debit card
  • Free cheque book
  • Avail pre approval on low charges

Features

  • A single account is provided for the mortgage payments that can be used as a current account
  • The interest rate will not be constant. It will be reduced depending on the monthly deposits
  • Both UAE Nationals and Expats can avail Home in One loan
Apply Now

Features

  • A single account is provided for the mortgage payments that can be used as a current account
  • The interest rate will not be constant. It will be reduced depending on the monthly deposits
  • Both UAE Nationals and Expats can avail Home in One loan
  • Quick and hassle-free documentation
  • Minimum salary of AED 15000 is required
  • Fixed rate of 1.92% is charged for the Home in One loan
  • The loan is provided for an interest rate of 3.49% on reducing rate basis
  • Salary transfer is not mandatory
  • Finance is provided on the maximum tenure of 25 years
  • Processing fees of 1% are applicable
  • Maximum finance of AED 18000000 is provided bbhh
  • For Expats down payment of 25% is required and for UAE Nationals down payment of 20% is required
  • 1% of the loan amount is charged as early settlement fees
  • Interest rates are based on EIBOR

Benefits

  • Maintain a single account for current account and mortgage payments
  • Make higher monthly deposits to reduce interest rates and loan tenure
  • Can get approval in-principle details without any additional charges
  • Get a free debit card and checkbook to access the current account
  • Can use Home in One loan to buy out the existing loan at other banks
  • Joint account holders can avail Home in One loan
  • Avail Internet and Mobile banking facilities to check payments flow
Apply Now
View Details

View details on bank page

Mortgage Home Loans

Minimum Salary

AED 15K

Flat Rate

1.78%

Reducing Rate

3.25%

Loan Amount

AED 18000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

Repayments Up To

25 Years

minimum salary

AED 15K

Minimum Salary

flat rate

1.78%

Flat Rate

reducing rate

3.25%

Reducing Rate

loan amount

AED 18000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

20%

Down Payment

repayment

25 Years

Repayments Up To

Features

  • Provides high loan amount
  • Both UAE Nationals and Expats are eligible
  • Life and Property Insurance is mandatory
Apply Now

Features

  • 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

Benefits

  • 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
Apply Now
View Details

View details on bank page

Amal Home Finance

Minimum Salary

AED 15K

Flat Rate

1.78%

Reducing Rate

3.25%

Loan Amount

AED 18000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

Repayments Up To

25 Years

minimum salary

AED 15K

Minimum Salary

flat rate

1.78%

Flat Rate

reducing rate

3.25%

Reducing Rate

loan amount

AED 18000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

20%

Down Payment

repayment

25 Years

Repayments Up To

Features

  • Available finance for both expats and UAE nationals.
  • High finance amounts.
  • Finance available on most ready projects with Title Deeds
Apply Now

Features

  • Available finance for both expats and UAE nationals.
  • High finance amounts.
  • Finance available on most ready projects with Title Deeds
  • You require a minimum salary of AED 15,000 per month to be eligible.
  • The reducing rate of this finance is 3.25% and the equivalent flat rate is 1.78%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.
  • The reducing rate of this finance is 3.25% and the equivalent flat rate is 1.78%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.
  • It is not a requirement to transfer your salary to apply.
  • Finance repayment period of up to 25 years.
  • The Insurance fee is 0.035% per year of property value
  • The processing fee is 1% of the loan amount
  • Most ready projects in Abu Dhabi, Dubai & Ras Al Khaimah
  • Expats are required to put 25% as down payment for this finance. UAE Nationals are required to put 20% as down payment for this finance.
  • The early settlement fee is applied as per UAE Central Bank policy, which is 1% of the outstanding amount (principal + profit) to date, or AED 10,000, whichever is lower. The bank has the discretion to waive any or all of the total outstanding profit.
  • This rate is variable and is based on EIBOR plus a margin by the bank.
  • The profit rate starts from 3.25% per annum.

Benefits

  • Finance amount up to 18 million with a repayment period of 25 years.
Apply Now
View Details

View details on bank page

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.

About 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. 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.

   Get in touch with Rakbank Customer Care

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