Are you looking for RAK bank personal loan or any personal loan in Ras al khaima or any emirates in United Arab Emirates with best interest rates and minimum basic salary?
RAKLoan will be a best option. Get high Personal Loan amounts at low interest rates, with flexible repayment of up to 48 months for expatriates and UAE nationals. If you have minimum basic salary of 3000 AED you can apply for personal loan in RAK Bank
|Minimum Salary||AED 3000|
|Maximum Term||4 Year|
|Features: Islamic Finance||No|
Features of RAK Bank Personal loan
- Minimum salary requirement to get personal loan in National bank of Ras al Khaima is AED 3,000 per month as per new bank policy.
- Loan repayment period is up to 48 months. Up to AED 1,250,000 based on salary and length of services for Expats.
- UAE National the loan can go up to 2,500,000.
- For all customers Maximum loan amount is subject to 20 multiples of salary, up to 50% Debt Burden ratio.
- Salary transfer require to apply for personal loan in RAK Bank
- The processing fee is 1% of loan amount [Min AED 500; Max AED 2,500].
- The early settlement fee is 1% of outstanding amount
- You get life insurance free of charge.
- The rate starts from 5.99% per annum based on reducing balance and may vary depends on customers basic salary.
- The reducing rate of this finance is 5.99% and the equivalent flat rate is 3.30%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.
- This rate is calculated on a reducing balance
RAK Bank Personal loan Key Features
Do you already have a Personal Loan with another bank in the UAE? Switch it to RAKBANK quickly and easily. After just six months of regular RAKloan repayments, you can apply for a one month deferred payment and after one year of regular RAKloan repayments you can top up your RAKloan to the original amount. You don’t have to maintain a minimum balance in your RAKloan account. Life insurance is available at a nominal cost.
- Quick approvals
- Competitive interest rates
- Flexible repayment periods of up to 48 months
- Top up loan after 1 year
- Easy does it! Hassle-free loan takeovers from other banks
- FREE RAKBANK Debit Card and personalized cheque book*
- FREE RAKBANK Credit Card with no annual fee ever and low interest rates
- 24-hour, 7-day Phone Banking services
- Easy documentation
Document required for Personal loan in RAK Bank
- Proof of identity
- UAE National’s valid passport copy with last page
- Expatriate’s valid passport copy with valid UAE Residence Visa
- Latest salary certificate stating present salary, length of service and end of service benefits
- Letter from current employer confirming salary transfer and benefits to Emirates NBD
- Three most recent months bank statement confirming salary on certificate