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Home Loan Provided By Rakbank
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.
Get in touch with Rakbank Bank Customer Care