RAKBANK Launches New Mortgage Offer

Providing customers with a competitive variable interest rate of 5.5%

RAKBANK has announced the launch of a new mortgage offer that provides property buyers with added flexibility as well as competitive interest rates from as little as 5.5%.

Available for a limited period, the new mortgage offer is open for UAE nationals, resident and non-resident expatriates. It extends up to 80% finance of the market value of the property to all buyers seeking select properties from leading Abu Dhabi and Dubai developers. RAKBANK will also finance the purchase of certain private properties registered with Dubai Land Department.

“As the real estate market is stabilizing, more and more people are taking a long-term view by looking at homeownership in the UAE, “ says Graham Honeybill, RAKBANK Chief Executive Officer. “Staying true to the Bank’s customer centric approach, RAKBANK has launched a mortgage offer with a simple and affordable solution for home finance to cater to the growing number of potential property buyers in the country.”

Potential buyers applying for the mortgage loan have the option of applying for a two- year fixed interest rate, which will ensure their monthly repayment remains unchanged during this period, or they could avail of the Bank’s competitive variable interest rate.  They can also take advantage of the Bank’s personal and dedicated award-winning customer service, flexible repayment periods and fast and easy approval process.  

RAKBANK was one of the first banks to offer mortgage finance in the UAE back in 2004. Since then, the Bank has successfully established itself as an active mortgage provider in the country and maintained a consistent approach of focus on service quality excellence and extensive customer support through the purchase process.

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About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 400,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks in the UAE.

RAKBANK offers a wide range of personal and business banking services throughout its 31 branches, as well as its telephone, Online, and Mobile banking channels. The Bank is a leading provider of credit cards and a prominent player in mortgage lending and small to medium enterprise finance.

Customer service excellence is a cornerstone of RAKBANK’s success, the Bank having been voted in 2010 for the fifth consecutive year as #1 Bank in Customer Service in the UAE Annual Bank Benchmarking Study. For more information, you can visit www.rakbank.ae, www.rakbankdirect.ae, or contact the Call Centre on +9714 213 0000. You can also connect to RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.