rakbank Bank

RAK BANK

Last Updated on 16 May 2020
Follow Rakbank on
  1. About the Bank
  2. Banking Products & Services
  3. Online banking
  4. Popular Products & Services
  5. Credit Card Offers
  6. Awards & Achievements
  7. Customer Support

About the Bank


Rakbank, which is also known as the Ras Al Khaimah National Bank (P.S.C), is a government joint venture company. The Bank was founded in 1976 and has undergone a significant transition from corporate banking to personal and business banking in 2001.


Today, the Bank offers a broad range of services for personal and business banking in its 36 branches, including mobile and online banking solutions. It also provides personal and business banking services in accordance with Sharia law, via its Islamic Banking Group, RAK islamic. The Bank offers Islamic wholesale and traditional, commercial banking and small business services through a network of 36 branches and 296 ATMs in the UAE.

Banking Products & Services


Rakbank offers a wide range of banking products & services like Credit Cards, Bank Accounts, Personal Loans, Home Loans, Business Loans, Islamic banking, Wholesale Banking etc. Explore all the Rakbank Products and Services here: 


Personal Banking

Accounts

Personal Accounts

Deposit Accounts


Cards

Personal Credit Cards

Business Credit Cards

Corporate Credit Cards

Debit Cards

Business Debit Cards

Prepaid Cards

Personal Loans

Home in One

Personal Loan

Cash Loan

Mortgage Home Loans

RAKauto Loan


Insurance

Car Insurance

Travel Insurance

Life Insurance

Home Insurance

General Insurance


Business Banking

Accounts

Business Accounts

Deposit Accounts

Islamic Accounts

Business Finance

Islamic Business Finance

Business Cards

Business Finance

Term and Working Capital Finance

Working Capital Finance 

Islamic Working Capital Finance 

Other Services


Asset-Based Finance

RAKBiz - Equip 

Business Equipment Finance 

Machinery Finance

Wholesale Banking

Financial Institutions

Corporate Banking

Cash Management

Commercial Banking

Trade Finance

RAKBiz - Equip




Online banking


Rakbank Online Banking Registration

Once you’ve opened your bank account with Rakbank, you can proceed for self-registration for internet banking. Before registering, keep the account number, Debit/ Credit card number and registered mobile number 


Steps to register for Mashreq Bank Internet banking

  1. Visit Rakbank website (https://rakbank.ae/wps/portal/retail-banking)
  2. On the homepage, click on digital banking and select personal 
  3. Click continue to login and it will redirect you to the login page, click on “Register”
  4. It will redirect you to the online banking registration page
  5. Enter your account number or debit/ credit card to begin the registration
  6. Follow the next 4 steps as per the bank, and create the username and password to complete the process
  7. Confirm your registration by login


Rakbank Online Banking Login

Using Rakbank internet banking you can easily operate your bank account from anywhere with just a few clicks. Before logging to internet banking, keep the User ID and password.


Steps to log in to Internet Banking

  1. Visit Rakbank website (https://rakbank.ae/wps/portal/retail-banking)
  2. On the homepage, click on digital banking and select personal
  3. It will redirect you to the login page
  4. Enter the User ID and password 
  5. You’ve logged into your account, now you can access the online banking features


Rakbank Online Banking Reset password 

Rakbank Internet banking provides a lot of banking services online to its customers anytime, anywhere. In case you forgot the password you can quickly reset it online. Before resetting the password, keep the account number, Debit/ Credit card number and registered mobile number.


Steps to change or reset the net banking password

  1. Visit Rakbank website (https://rakbank.ae/wps/portal/retail-banking)
  2. On the homepage, click on digital banking and select personal
  3. It will redirect you to the login page, click on “forgot password”
  4. Enter your account number or debit/ credit card to reset your password
  5. Follow the further steps and reset your Password
  6. Kudos!! Your password can be reset now and you can log in using the new password.

Note: Don't share your bank passwords, PINs with anyone

Popular Products & Services


Rakbank provides different types of financial products in the UAE and other regions. The flagship products include Credit Cards, Loans, Bank Accounts, Wholesale Banking, Islamic Banking, etc. Here are the popular financial products:


Credit Cards:

Rakbank offers various credit cards for different purposes to suit everyone’s needs. There are different types of Credit cards available like RAKBANK Titanium Credit Card, RAKBANK World MasterCard Credit Card, etc. You can even enjoy the different benefits like RAK rewards, Zero Annual Fees, cashback on movies, dining, travel insurance, complimentary stays, etc and many more. Read more

Loans & Mortgages:

Rakbank provides attractive loan options for expatriates and UAE nationals. There are different Loans available at Rakbank like Personal Loans, Home Loans, Car Loans, Business Loans, etc. It provides Collateral free loans, Competitive rates of interest and simple eligibility requirements with minimum salary required is AED 5,000.

Bank Accounts:

Various types of bank accounts serve unique needs. It's wise to put money into the best account, and use the right tools to spend and save, depending on your goals. Rakbank provides different Bank Accounts according to your requirements like Savings Accounts, Current Accounts, Islamic Accounts, etc. 

Credit Card Offers

RAKBank offers various rewards, discounts, deals, and promotions on shopping, dining, travel, hotels, entertainment, education, health, and wellness, etc. Visit Rakbank credit card offers page for further details 

Awards & Achievements


Year

Award Name

Awarded By

2019

Best Branch Digitisation

The Asian Banker’s Financial Technology Innovation Awards

2019

Best SME Customer Service Provider UAE 2019

International Business Magazine Award 2019

2019

Best Internal Use of Digital - IT ChatBot

Gulf Customer Experience Awards

2019

Best Digital Initiative in HR

CIPD Middle East people Awards

2018

Most Innovative Outward Remittance Services (RMT) – UAE

Global Banking & Finance Review Awards

2018

Best Marketing, Social Media, and Brand

International Business Excellence Awards

Customer Support

The bank provides customer support 24/7 to its customers. You can get in touch with the bank via call or email on +971 42130000  and contactus@rakbank.ae. Visit Rakabank Customercare page for further details.

CEO: Peter England

Chairman: H.E. Mohamed Omran Alshamsi

Founded Year: 1976

Head Quarters: Ras Al Khaimah

Swift Code: NRAKAEAK

Total Assets: AED 53.5 Billion

Net Profit: AED 839.4 million

Website: www.rakbank.ae

Savings Account Savings Account
Home Loan Home Loan
Car Loan Car Loan
Business Loan Business Loan
Credit Card Credit Card
Personal Loan Personal Loan
Current Account Current Account
Deposit Account Deposit Account
Islamic Account Islamic Account
Premier Account Premier Account
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Savings Account Provided by Rakbank

Amal Savings Account

Min Balance to Maintain

3K

Monthly Fee

0

Annual Fee

0

Relationship Manager

No

Currency Account

Yes

3K

Min Balance to Maintain

0

Monthly Fee

0

Annual Fee

No

Relationship Manager

Yes

Currency Account

Savings Account

Min Balance to Maintain

3K

Monthly Fee

0

Annual Fee

0

Relationship Manager

No

Currency Account

Yes

3K

Min Balance to Maintain

0

Monthly Fee

0

Annual Fee

No

Relationship Manager

Yes

Currency Account

Amal Jood Savings Account

Min Balance to Maintain

3K

Monthly Fee

0

Annual Fee

0

Relationship Manager

No

Currency Account

No

3K

Min Balance to Maintain

0

Monthly Fee

0

Annual Fee

No

Relationship Manager

No

Currency Account

RAKsave Account

Min Balance to Maintain

3K

Monthly Fee

0

Annual Fee

0

Relationship Manager

No

Currency Account

No

3K

Min Balance to Maintain

0

Monthly Fee

0

Annual Fee

No

Relationship Manager

No

Currency Account

Frequently Asked Questions

⭐ What is Swift Code for Rakbank?

Swift Code for RAKBANK: NRAKAEAK

⭐ Is there any E-Statement fee?

No. There is no E-Statement

⭐ What is the maximum limit for RAK money transfer to India?

The maximum limit for RAK Money Transfer to India is INR 2 Lakhs.

⭐ Can we transfer money from credit card?

Yes. On RAK Money Transfer you can transfer funds in your accounts or credit card.

⭐ What are the service charges for RAK Money Transfer?

The service charges for RAK Money Transfer varies from AED 5 to AED 15. It depends upon the transferred amount.

⭐ How to avail Rakbank digital banking facility?

For Rakbank digital banking you can check online banking section listed above

⭐ Where is the Rakbank in Dubai?

Rakbank has several branches in Dubai. To find the location of Rakbank in Dubai and in UAE you can visit Rakbank Customer care page.

⭐ How to check Rakbank balance ?

To Check your Rakbank account balance you need to login to digital banking and generate estatement.

⭐ What are the rates offered on Rakbank fixed deposit?

The profit rates offered on RakBank fixed deposits depends on the deposit amount and tenure of the deposit. Visit Rakbank.ae for details.

⭐ Who can have RAKBANK current account?

The UAE residents who are above 21 years can open the Current Account. But, Non-Resident individuals cannot open the Current Account.

⭐ What is Elite in RAKBank?

Elite is a banking service that provides privileged banking services that gives personalised banking experience to the customers.

⭐How to avail Rakbank online banking business?

Visit Rakbank website > click on digital banking > select the business option for Rakbank business banking

⭐ How can I open a Rakbank account?

You can open the Rak Bank account in the following ways-

  • Visit the rakbank website, Click on accounts > select the account you want to open > Fill form the and click on apply now
  • Visiting the nearest Rakbank branch

⭐ How to close the Rak Bank account?

You can visit the nearest Rakbank branch and submit the request to close the account or you can call the customer care executive of the bank to close the account.

⭐ Do Rakbank have zero balance accounts?

The Rakbank Fast Saver Account is the Zero balance account provided by RakBank.

⭐ Can I get Rakbank personal loan details?

The Rakbank personal starts from 5.99% interest rate. You can check in detail about personal loan in the above product list.

⭐ Is there any International Transaction Fee to purchase with Credit Card?

Yes, when you pay in Non-AED Currency- 2% of transaction amount & When you pay in AED Currency 2.5% of transaction amount.

⭐ Can we transfer money from credit card?

Yes. On RAK Money Transfer you can transfer funds in your accounts or credit card.

⭐ where to pay Rakbank credit card

Check Rakbank Easy payment plan for all the payment option for Rakbank credit card

⭐What is a rakbank credit shield?

The Rakbank credit shield is the invaluable insurance benefit that covers your credit card outstanding balance. To enroll for a credit shield you call on Rakbank customer care service.

⭐ Does Rakbank offer prepaid cards?

Yes. Rakbank offers a Travel prepaid cards which helps you to travel without hassles of exchanging currencies.

⭐ Is there any duplicate statement fee?

Yes, for each statement AED 45 (before last statement) is charged.

⭐ Is there any Card replacement fee charged by RAKBANK?

Yes, Card replacement fee from RAKBANK is AED 75.

⭐ How to use the Rakbank iban generator?

Visit Rakbank IBAN generator page > Enter your 13 digit Rakbank account number and click submit> Validate the IBAN once it is generated.

Latest Updates About Rakbank

RAKBANK becomes first bank to adopt UAE Pass registration services across all branches

25 February 2020

UAE Pass registration- A National Digital Identity and Digital Signature solution for the UAE has been implemented by RAKBANK across all its 36 branches. Now RAKBank customers can complete their registration to UAE Pass seamlessly and securely in just a few simple clicks.

RAKBANK is launching a much-awaited digital community platform called ' SMEsouk ' for SMEs in the UAE

06 November 2019

The Bank partnered with reputable entities to help create a digital community platform that delivers an entire spectrum of Financial services and non-banking value-added services specifically for SME's SMEsouk is the perfect digital medium that links SMEs with a list of innovative solutions that will help their businesses thrive.

RAKBANK honors the Department of Criminal Investigation (CID) and the Raffa Police Station for their assistance throughout the year

11 September 2019

RAKBANK was given the honor of inviting officials of the Criminal Investigation and Raffa Police Station to accept awards and appreciation for their constant support and critical assistance to the bank to combat fraud, financial-laundering, and cybercrime under the patronage of HE engineer Sheik Salem al-Qassimi, member of RAKBANK's board and Chairman of RAK Civil Aviation Department's.

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