Rakbank Personal Loan provides UAE expatriate residents with financing solutions for weddings, holidays, unexpected expenses, or debt consolidation from other banks.
The product offers competitive interest rates starting from 5.49% per annum, high loan amounts, and flexible repayment terms up to 48 months.
Key Facts
- Loan amount: Up to approved limit based on salary, credit profile, and debt burden ratio assessment
- APR (Annual Percentage Rate): From 5.49% to 19.99% per annum (reducing rate, fixed throughout loan term). APR includes 1.05% processing fee. Final rate varies by individual circumstances and market conditions.
- Loan term (months): Up to 48 months (expatriates only)
- Processing fee: 1.05% of loan amount (minimum AED 525, maximum AED 2,625, including VAT)
- Product type: Conventional banking (interest-based, not Sharia-compliant)
الحقائق الرئيسية
- مبلغ القرض: حتى الحد المعتمد بناءً على الراتب والملف الائتماني وتقييم نسبة عبء الدين
- معدل الفائدة السنوية: من 5.49٪ إلى 19.99٪ سنويًا (سعر متناقص، ثابت طوال مدة القرض). يشمل المعدل رسوم معالجة بنسبة 1.05٪. السعر النهائي يختلف حسب الظروف الفردية وظروف السوق.
- مدة القرض (بالأشهر): حتى 48 شهرًا (للوافدين فقط)
- رسوم المعالجة: 1.05٪ من مبلغ القرض (حد أدنى 525 درهم، حد أقصى 2,625 درهم، شاملة ضريبة القيمة المضافة)
- نوع المنتج: مصرفية تقليدية (قائمة على الفائدة، غير متوافقة مع الشريعة)
Get to know better:
- Swift approval and disbursement
- Benefit from loan approval and disbursement within 7 days of submitting complete documentation and meeting product requirements. Quick access to funds for urgent financial needs.
- Loan switching facility
- If you have an existing personal loan with another UAE bank, Rakbank offers a switching facility to consolidate your debt under potentially better terms and simplified repayment management.
- Top-up option
- After one year of regular repayments on your Rakbank Personal Loan, you can apply to top up the loan to the original approved amount for additional financing needs.
Why we recommend this loan
Rakbank Personal Loan offers competitive interest rates starting from 5.49% per annum for eligible customers. The product is regulated by the Central Bank of the UAE and provides transparent pricing with all fees disclosed in the bank’s Service and Price Guide.
The loan is suitable for salaried expatriate residents of the UAE aged 21 years or older with minimum monthly salary of AED 5,000. Employment with a Rakbank-approved employer and minimum Al Etihad Credit Bureau (AECB) score of 541 are required.
Find a personal loan to your profile
Your interest rate (ranging from 5.49% to 19.99% per annum) depends on your salary level, AECB credit score, employment stability with Rakbank-approved employer, and existing relationship with the bank.
Higher salary levels, better credit scores, and established banking relationships with Rakbank qualify for lower interest rates and higher loan amounts. The loan amount is subject to debt burden ratio calculations as per Central Bank of the UAE regulations.
Rakbank Personal Loan: Get a personal loan
This is a conventional banking product where interest is charged using a reducing balance method throughout the loan term. It is not Sharia-compliant. End-of-service benefits must be assigned to Rakbank, and salary transfer is mandatory until full loan repayment.
All loan activity is reported to Al Etihad Credit Bureau. Late payments will result in default interest charges, negative credit rating impact, and potential legal action by the bank including immediate full repayment demand.
Disclaimer
This content is for informational purposes only and is not issued or endorsed by The National Bank of Ras Al-Khaimah (P.S.C.). All terms and rates are subject to change and regulatory approval. Please refer to the bank’s official website and Key Facts Statement for the most accurate and updated information.
إخلاء المسؤولية
هذا المحتوى لأغراض إعلامية فقط ولم يصدر أو يعتمد من قبل البنك الوطني لرأس الخيمة (شركة مساهمة عامة). جميع الشروط والأسعار عرضة للتغيير والموافقة التنظيمية. يرجى الرجوع إلى الموقع الرسمي للبنك وبيان الحقائق الرئيسية للحصول على أدق المعلومات وأحدثها.