RAK Bank Personal Loan
Rak Bank Personal Loan
Get high Personal Loan amounts at low interest rates, with flexible repayment of up to 48 months for expatriates and UAE nationals (60 months for Armed Forces Staff).Already have a Personal Loan with another bank in the UAE? Switch it to RAKBANK quickly and easily. After just six months of regular RAK Bank Personal loan repayments, you can apply for a one month deferred payment and after one year of regular RAK loan repayments you can top up your RAK Bank Personal loan to the original amount. Keep it simple! You don’t have to maintain a minimum balance in your RAKloan account. Life insurance is available at a nominal cost.
- Minimum Salary Requirement: AED 3,000
- Both UAE Nationals and Expats are eligible
- Reducing Rate Starting: 5.99%
- Processing Fees: 1% of the finance amount (Minimum 500 AED and Maximum 2500 AED)
- Islamic Finance: No
- Maximum Term: 4 Years
- Salary Transfer: Yes
- Passport copy
- Visa copy
- Emirates ID copy.
- Last 3-6 months bank statements.
- Recent payslips/ Income documents.