Secure up to 90% funding for your construction equipment with flexible repayment terms and high loan amounts. Equip your business for growth with RAKBANK's tailored finance solutions.

Construction Equipment Finance - RAKBiz Equipment | RAKBANK UAE

Construction Equipment Loan

Build business growth with our construction equipment loans

Construction Equipment

Construction Equipment - Feature Card - Up to 90% LTV funding

We also offer up to 90% funding of the Loan to Value (LTV) across a wide array of brands and vehicles.


Up to 90% funding

Up to 90% LTV funding

Construction Equipment - Eligibility

Eligibility

Construction Equipment - Hero Item

Construction Equipment - feature card container

Buyout from other banks

Commercial Vehicles - Processing fees

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Which account is best for you?

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6 months turnover >=AED 500K

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Cross Sell

Interest rate: 5.5% to 8%

Expand your business with RAKBANK's Point of Sales and E-commerce Finance. Get financing based on your point-of-sale transactions and take your retail business to the next level in the UAE.

Business Loan Against POS and E-commerce Receivables Retailers | RAKBANK UAE

Point of Sales & E-Commerce Finance

Point of Sales & e-commerce Finance

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Construction Equipment - Feature Card - Flexible repayment

We understand that the unexpected happens. To alleviate the pressure, we offer you the flexibility of repaying your loans within 48 months.

Flexible repayment

Commercial Vehicles Emirates Integrated Registries Company(3)

Account

Construction Equipment - Terms And Conditions

Terms and Conditions

Construction Equipment - Feature Card - High loan amounts

We offer up to AED 35 Million to businesses seeking to procure construction equipment. Higher amounts can be considered depending on the client’s profile and requirements.

High loan amounts at competitive rates

High loan amounts 

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Segment - Business

Travel

EMI return charges - Cheque/standing instructions (for each installment)

Commercial Vehicles - EMI return charges

Construction Equipment -  Would you like more?

Would you like more?

Construction Equipment - Need Help Card

Floating Rate

Get a collateral-free business loan with RAKBANK UAE, offering up to AED 5 million and flexible repayment options of up to 60 months. Support your business expansion with ease. Apply now!

Business Loan in UAE - Get up to AED 5 Million With Flexible Repayments | RAKBANK UAE

Business Loan

Get a collateral-free business loan with RAKBANK UAE, offering up to AED 3 million and flexible repayment options of up to 60 months. Support your business expansion with ease. Apply now!

Business Loan in UAE - Get up to AED 3 Million With Flexible Repayments | RAKBANK UAE

Expand your business with a flexible, collateral-free loan

In Page Floating Menu

<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms &amp; conditions of the Loan with a 60-day notice.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the interest rates of the Loan with a 30-day notice. </li>
</ul>
Warnings
<ul>
<li style="font-weight: 400;" aria-level="1">An approval for the Finance, once sanctioned, is only valid for 90 days from the date of approval, and the Finance disbursal must be completed before that so as not to lose time, failing which re-approvals need to be sought internally. Extension beyond 90 days is at the Bank&rsquo;s discretion and subject to internal approvals.</li>
<li style="font-weight: 400;" aria-level="1">If you pay off the Finance prior to the due date, you will pay prepayment charges at the rates described in the <a href="/globalassets/rakbank/all-pdfs/asset-based_kfs_008-sp-vat-businessequipmentassetsfinance-24062022.pdf?MOD=AJPERES&amp;CVID=o6AJRrv" target="_blank" rel="noopener">Service &amp; Price Guide.</a></li>
<li style="font-weight: 400;" aria-level="1">If you are late in payment or fail to make a payment on the due date, you will pay donation amount charges at the rates described in the Service &amp; Price Guide; and profit will continue to apply on the aggregate finance outstanding (which will include the unpaid profit posted to the finance account).</li>
<li style="font-weight: 400;" aria-level="1">If you fail to make a payment, or otherwise breach the Finance terms, this will be considered a default and the Bank will be entitled, among other things, to:</li>
<ul>
<li style="font-weight: 400;" aria-level="2">(a) Charge a donation amount as defined in the Offer Letter for non-compliance to finance sanction terms;</li>
<li style="font-weight: 400;" aria-level="2">(b) Cancel the Finance and demand and demand full payment immediately;</li>
<li style="font-weight: 400;" aria-level="2">(c) Report the default to the appropriate regulatory authorities and credit rating agencies, which will affect your credit rating;</li>
<li style="font-weight: 400;" aria-level="2">(d) Bring legal proceedings against you.</li>
</ul>
</ul>
 Risks and Limitations
<ul>
<li style="font-weight: 400;" aria-level="1">All the types of vehicles / equipment to be financed have to be part of the Bank&rsquo;s approved list of vehicles / manufacturers / dealers.</li>
<li style="font-weight: 400;" aria-level="1">The Bank will pay the dealer directly.</li>
<li style="font-weight: 400;" aria-level="1">Last monthly commitment amount may vary depending on moratorium period, changes in floating rate indices, and payment delays.</li>
<li style="font-weight: 400;" aria-level="1">Finance tenure may vary post sanction depending on monthly commitment deferrals sought from the Bank, payment delays, and pricing variation.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">If you fail to settle any due payment or otherwise breach our terms, we reserve the right to repossess the asset(s), and liquidate / sell them to settle the outstanding amount.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may reject requests for monthly commitment deferral if payments are irregular or if there are cheque / Direct Debit System (DDS) returns in the last 12 months or if the request does not meet the Bank&rsquo;s internal risk policy requirements. </li>
</ul>
Customer Obligations
<ul>
<li style="font-weight: 400;" aria-level="1">Pay all monthly commitments and other amounts on their due dates without delay;</li>
<li style="font-weight: 400;" aria-level="1">Review this document and all other terms &amp; conditions set out in the facility documents / application form in detail;</li>
<li style="font-weight: 400;" aria-level="1">Regularly check our website www.rakbank.ae for updates;</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing if there is a change in your business income details, contact details, postal or location address, financial details or any other material information as declared in the facility documents / application form or otherwise conveyed to the Bank;</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing prior to making any changes to ownership or management of the company as was declared during the application process and seek consent; and</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing if you wish to prepay your Finance prior to its maturity.</li>
</ul>
&nbsp;

Construction Equipment - Important 

Requirements & Eligibility:

<ul>
<li aria-level="1">Valid trade licence</li>
<li aria-level="1">Valid passport, Emirates ID, visa (for all signatories and shareholders)</li>
<li aria-level="1">Bank statements, VAT filings</li>
<li>Other business documents such as constitutional documents &amp; account mandates viz memorandums, shareholders resolution, etc.</li>
<li>Company location documents such as Ejari, lease agreement, etc. (as applicable)</li>
<li>Other banking or lending assessment information / documentation (if and as applicable)</li>
<li>Capacity to meet the Bank&rsquo;s lending criteria</li>
</ul>

Construction Equipment - Other Requirements

Construction Equipment - With Salary Transfer

Fees

Construction Equipment - We’re here to help

Conventional

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Which account is the best one?

Construction Equipment - Terms and Conditions

Experience the RAKBANK difference

LOAN FEATURES

The finance you need to equip your business for growth 

Early settlement of loan (partial / full)

Commercial Vehicles - Early settlement of loan (partial/full)

Max loan tenure 48 months

Construction Equipment - Hero samll

* Maximum of AED 5,000 + 5% VAT
** Per security document
*** Of the settled principal amount
&nbsp;
Late payment fee of AED 262.50 will be charged if the EMI due is not paid by the due date.
&nbsp;
For more details about our Construction Equipment Loan fees and charges, please refer to our <a title="Service and Price guide" href="/globalassets/rakbank/all-pdfs/001---service-and-price-guides/bilingual/008-sp-vat-businessequipmentassetsfinance.pdf" target="_blank" rel="noopener">Service and Price Guide</a>.
&nbsp;
Disclaimer:
VAT at the current of 5% will be levied on the Bank's fees and charges, as applicable under UAE law.

Construction Equipment - Fees

Current Accounts - Do I receive interest on this account?(4)

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ELIGIBILITY & FEES

Secure your loan today

Construction Equipment - Divider title with apply now - tabbed box

Construction Equipment -  Tabbed Box

Length of Business: 1 year

Commercial Vehicles - Issuance of Liability Certificate

Up to AED 35 million

Up to AED 35 M

Red Mastercard - What is this new benefit all about?

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Construction Equipment - Faq's Divider Title

FAQs

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Collateral free loan

Construction Equipment- FAQ's

FAQ Accordion Items

Construction Equipment - Feature Card - Packed with more options

We also offer refinancing for your existing mortgage-free assets and a takeover option at highly competitive rates.

Packed with more options

Asset refinance & takeover

Commercial Vehicles - Al Etihad Credit Bureau check fee

Chat with an agent

Minimum loan AED 100K

Not sure about something? Check our frequently asked questions to find what you’re looking for.

FAQ’s Help Card

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Permanent Release Charges per asset (to be paid when mortgage release is requested)

Commercial Vehicles - Permanent Release Charges

Rewards

Benefits

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Construction Equipment - Help Card

Construction Equipment - Terms and Conditions Notification

 Important Information

Scan the QR code to download the RAKBANK Business app from the Apple App Store

Download the RAKBANK Business app!

A powerful yet simple platform that brings payments, payroll, and financial management together in one secure experience.

LOAN FEATURES

The finance you need to equip your business for growth

ELIGIBILITY & FEES

Secure your loan today

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FAQs

Relevant links

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Banking that works around your business