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RAKvantage
RAKvantage offers all of the benefits of a current account with the additional advantage of higher interest rates. With RAKvantage you earn the highest rate of interest possible on your available balance*.Very simply, the higher your balance, the higher the interest rate you receive. RAKvantage Accounts are intended for personal banking and are available in AED and USD only for UAE residents and GCC Nationals (non resident in the UAE).
- Unlimited FREE cheque books and drawings.
- Instant account access for bill payments and account transfers through RAKdirect our 24 hour telephone banking service.
| Balance Amount (AED) | Interest Rate |
| 0 - 9,999 | NIL |
| 10,000 - 49,999 | 0.25% |
| 50,000 - 99,999 | 0.50% |
| 100,000 - 249,999 | 0.75% |
| 250,000 - 499,999 | 1.00% |
| 500,000 - 999,999 | 1.50% |
| 1,000,000 upto 5,000,000 | 2.00% |
| 5,000,000 upto 10,000,000 | 1.75% |
| 10 mio upto 25 mio | 1.50% |
| 25 mio and above | 1.25% |
* The minimum average monthly balance is AED 3,000. If this balance is not maintained, a fee of AED 25 will be levied. (Note: Effective from 1st May 2011.)
Note: If interest payable is less than AED 10/-, then no interest will be credited.
