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 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.
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
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
RAK bank personal loan UAE Dubai Abu dhabi, Sharjah, Rasal Khaima Minimum Salary 3000 AED
Gulffocus.info is a fastest growing website in the Middle East. before we name as GCC Guides and now knowing as Gulf Focus Info
We are focusing to provide helpful information to gulf expatriates, national and those who wish to visit Gulf countries.