rakbank Bank

RAK BANK

Last Updated on 20 November 2019
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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




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 features like 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

Bank offers various 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

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

Q. What is Swift Code for Rakbank?

A. Swift Code for RAKBANK: NRAKAEAK

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

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

Q. Is there any duplicate statement fee?

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

Q. Is there any Card replacement fee charged by RAKBANK?

A. Yes, Card replacement fee from RAKBANK is AED 75.

Q. Is there any E-Statement fee?

A. No. There is no E-Statement

Q. 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.

Latest Updates About Rakbank

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 department.