Promotion kicks off during Cityscape Abu Dhabi

Buyers looking to acquire a property in the Capital this year will be able to take advantage of a special promotion currently being run by RAKBANK, offering some of the lowest interest rates in the market.

Customers who sign up for a mortgage finance deal with the bank anytime before end of June will have home loans with interest rates as low as 7.49%, down from the previous rate of 8.3%, and among the most competitive in the market. The interest rate varies depending on type of employment and loan amount.

The promotion applies to UAE Nationals, Residents and Non-Residents purchasing existing and upcoming residential freehold projects, including those on Al Raha Beach and Yas Island by Aldar, and the Shams project on Reem Island by Sorouh.

Buyers who sign up for a mortgage deal during Cityscape Abu Dhabi or any time before end of April will also get exclusive benefits, with lower loan processing fees and the added flexibility to settle 20% of the loan free of cost once a year, if interested in the option of early settlement.

Following its entry last year into Abu Dhabi’s property landscape, RAKBANK is looking to make its mark on the capital this year and develop more partnerships with the city’s leading developers to offer finance for a larger number of properties. The bank offers up to 90 percent mortgage finance and up to a 25 year loan tenure, and requires a minimum salary of Dh10,000 from applicants, amongst other criteria.

"With this promotion, RAKBANK is offering the most competitive interest rates on mortgage finance in the market," says General Manager, Graham Honeybill. "We were one of the first conventional banks to offer mortgage finance in Dubai over four years go, and quickly built a reputation for fast and flexible service. We aim to similarly establish ourselves this year as a leading mortgage provider in Abu Dhabi with a very competitive offering."

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About RAKBANK

RAKBANK, the National Bank of Ras Al-Khaimah, is a leading retail bank in the UAE, serving 330,000 customers. Founded in 1976, the bank is one of the UAE’s oldest local financial institutions and today one of its fastest growing and most dynamic banks, with assets worth Dh13.92billion.

The bank offers a wide range of personal banking services through its 25 branches and telephone and online banking channels. It is a leading provider of credit cards and was first to introduce the concept of ‘Free for Life’ cards, a facility now adopted by many industry players. It is also a significant player in the mortgage finance and small to medium enterprise business sectors.

Customer service excellence is a cornerstone of the bank’s success, with the bank having been voted in 2008 for four years running as #1 Bank in Customer Service in the UAE Annual Bank Benchmarking Study.

For more information, visit www.rakbank.ae