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RAKBANK Personal Loan


Personal Loan

Minimum Salary


Reducing Rate


Loan Amount

AED 1500K

Early Settlement Fee


Arrangement Fee



  • Free credit card on 0 annual fees
  • Free debit card & cheque book
  • Low minimum salary requirement
minimum salary


Minimum Salary

reducing rate


Reducing Rate

max finance

AED 1500K

Loan Amount

early settlement fee


Early Settlement Fee

arrangement fee


Arrangement Fee


  • Free credit card on 0 annual fees
  • Free debit card & cheque book
  • Low minimum salary requirement

View details on bank page


  • Repayment period is up to 4 years
  • The loan is provided for an interest rate of 4.99%
  • Minimum salary of AED 5000 is required
  • It is mandatory to transfer your salary to apply for this scheme
  • Finance up to AED 1,500,000
  • Early settlement fee is 1% of finance amount
  • Arrangement fee is 1% of loan amount


  • Can get free credit card, debit card, cheque book
  • Can defer one installment
  • Repayment period is long
  • High finance is provided
  • Life insurance is provided


  • Provides finance on a low salary
  • Can top-up existing loan to original loan amount after one year of loan
  • Can defer one year installment for free on paying installments regularly for 6 months
  • Free cheque book and debit card is provided
  • Can get free RAK bank credit card of 0 annual fees
  • Provide life insurance on nominal charges
  • Can avail debt consolidation facility
  • Salary transfer to RAK bank account is compulsory

Frequently Asked Questions

⭐ Can I transfer my existing personal loan to the RakBank?

A. Yes, you can transfer your existing personal loan to the RAKBank.

⭐ Can I skip any installments?

A. Yes, you can skip your monthly installments, but have to bear the installment deferment fees of AED 100.

⭐ Are there any late payment fees involved?

A. Yes, on delayed payments you need to pay 2% of the amount delayed.

⭐ Is the credit card provided for free?

A. Yes, you get a free credit card with zero annual fees for lifelong.

⭐ What are the charges to get a liability certificate?

A. To get a liability certificate you need to pay AED 100.

⭐ Is salary transfer mandatory for a RAK Bank personal loan?

A. Yes, your salary must be transferred to your RAKbank account to be eligible for a personal loan.

⭐ What are the charges for availing online banking services?

A. Online banking and mobile banking services are available for free.

⭐ What are the annual fees for RAK bank credit card provided?

A. Credit card provided with the approval of personal loan is free of annual fees.

⭐ Is debt consolidation facility available at RAKbank?

A. Yes, debt consolidation facility is available.

⭐ Is salary advance facility available?

A. Yes, there is salary advance facility available for both UAE Nationals and Expats.

⭐ How to get registered for RAK Bank Online banking services?

A. Once your loan is approved you are registered to the RAK Bank online banking services automatically.

⭐ Can I transfer my existing personal loan to Rak Bank?

A. Yes, you can transfer your existing personal loan to RAK Bank.

⭐ When can I top up my RAKbank loan?

A. You can top up your loan after making regular payments for a year.

⭐ For how long the credit card is provided for zero annual fees?

A. The credit card is provided for no annual fees lifelong.

⭐ Which company provides the insurance on the loan?

A. Life insurance on the personal loan is provided by RAK Insurance.

⭐ Do I get a liability certificate?

A. Yes, you can get a liability certificate for AED 100.

⭐ What are the fees for deferring any installments?

A. AED 100 is charged for deferring the installment.

⭐ What are the charges on payment delay?

A. On late payments, 2% of the amount delayed is charged.

⭐ What are the various personal loans available?

A. You can check otherpersonal loan in UAEhere.

⭐ What is the minimum salary required for a personal loan in RAK Bank?

A. The minimum salary required for a personal loan in RAK Bank is AED 3000.

⭐ What is the eligibility criteria for a personal loan in RAK Bank?

A. The personal loan applicant of RAK Bank must be UAE resident, have a minimum salary of AED 3000, and should transfer salary to RAK bank account.

⭐ What are the documents required for a personal loan in RAK Bank?

A. The documents required for a personal loan in RAK Bank is Emirates ID, Resident Visa, Salary Certificate, Bank Statements, Salary transfer letter, Passport, Address Proofs, Trade Licence(for self-employed), etc.

⭐ What is the maximum loan amount provided at RAK Bank?

A. The maximum loan amount provided at RAK Bank on a personal loan is AED 1.5 Million.

⭐ How many installments I can defer on no charges?

A. After paying installments regularly for 6 month, the loan holder can defer one installment for free.


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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