RAKBANK provides point of sales finance services for retailers who want to expand their business.


Point of Sales Finance for Business - RAKBANK

Point of Sales & E-Commerce Finance

Point of Sales & e-commerce Finance

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Key Fact Statement

Foreign Exchange Rates

Terms and Conditions

E-commerce Financing - Relevant Links

E-commerce Financing - Eligibility

<ul>
<li style="font-weight: 400;" aria-level="2">Valid trade licence</li>
<li style="font-weight: 400;" aria-level="2">Valid passport, Emirates ID, visa (for all signatories and shareholders)</li>
<li style="font-weight: 400;" aria-level="2">Bank statements, VAT filings</li>
<li style="font-weight: 400;" aria-level="2">Business documents such as constitutional documents &amp; account mandates viz memorandums, shareholders resolution, etc.</li>
<li style="font-weight: 400;" aria-level="2">Company location documents such as Ejari, lease agreement, etc. (as applicable) </li>
<li style="font-weight: 400;" aria-level="2">Other banking or lending assessment information /documentation (if and as applicable)</li>
<li style="font-weight: 400;" aria-level="2">Capacity to meet the Bank&rsquo;s lending criteria</li>
</ul>

E-commerce Financing - Age

Flexible repayment

E-commerce Financing - Hero

Minimum loan AED 100K

Account

6 months turnover >=AED 300 k

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E-commerce Financing - Terms And Conditions

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Segment - Business

E-commerce Financing - Terms and Conditions Notification

Important Information 

E-commerce Financing - Would you like more?

Would you like more?

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We're here to assist you with any queries regarding Point of Sales &amp; E-Commerce Finance. Feel free to contact us through any of the following channels.

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Higher eligibility basis Point of Sale & E-Commerce receivables

E-Commerce - Fees

E-commerce Financing - Collateral-Free Loan

We understand that the unexpected happens. To alleviate the pressure, we offer you the flexibility of repaying your loans within 60 months!

E-commerce Financing - Any POS Provider

Our Point of Sales (POS) Financing accepts receivables from any POS service provider. This wide-ranging compatibility ensures flexibility and that your business operations will continue to run smoothly.

Any Point of Sales provider

<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms &amp; conditions of the Loan on 60 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the interest rates for the Loan on 30 days&rsquo; notice to you in advance.</li>
</ul>

E-commerce Financing - Key Terms & Conditions

Length of Business: 6 months

Partial or full early settlement of Loan (% of settled amount)

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E-commerce Financing - Quick Approval Process

Get your loan approved and opened within just 7 business days of signing the facility documents or loan application form and submitting all required documents. We value your time and strive to serve you faster.

Quick approval process

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E-commerce Financing - We’re here to help.

E-commerce Financing - Cash Loan Evaluation

We provide Cash Loans based on a comprehensive evaluation of your Point of Sales receivables, receivables from E-commerce / online sales, business model and repayment capability. This transparent process ensures you get the financing that fits your business.

Cash Loan evaluation

* per security document
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Other fees:
<ul>
<li style="font-weight: 400;" aria-level="1">Processing Fees (if any) at the time of onboarding will be quoted as a % of the Loan amount, but not exceeding 2.5%</li>
<li style="font-weight: 400;" aria-level="1">Late payment fee if the EMI due is not paid by the due date:</li>
<ul>
<li style="font-weight: 400;" aria-level="2">1 EMI overdue - AED 315</li>
<li style="font-weight: 400;" aria-level="2">2 EMIs overdue - AED 420</li>
<li style="font-weight: 400;" aria-level="2">Over 2 EMIs overdue - AED 577.50</li>
</ul>
</ul>
Interest:
<ul>
<li>Net interest rate for the Loan ranges from 16% to 19% reducing per annum. The interest rate will be linked to the Bank internal rate &ndash; SME Prime Rate.</li>
<li>The SME Prime Rate is currently 15.50% p.a. and is subject to change from time to time at sole discretion of the Bank.</li>
<li>Any change to the SME Prime Rate is notified/published in the UAE newspapers or at RAKBANK Branches or RAKBANK&rsquo;s website at <a class="in-cell-link" href="/en/" target="_blank" rel="noopener">www.rakbank.ae</a> as decided by the Bank from time to time.</li>
<li>The net interest rate, as offered for each Loan, will however be determined basis the company profile, as assessed.</li>
</ul>
<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;&bull; Net interest rate for the Loan ranges from 13% to 18% reducing per annum. The interest rate will be linked to the Bank internal rate &ndash; SME Prime Rate.\n&bull; The SME Prime Rate is currently 15.50% p.a., effective 01 May 2023 (previously 15% p.a.), and is subject to change from time to time at sole discretion of the Bank. Any change to the SME Prime Rate is notified/published in the UAE newspapers or at RAKBANK Branches or RAKBANK&rsquo;s website at www.rakbank.ae as decided by the Bank from time to time. The net interest rate, as offered for each Loan, will however be determined basis the company profile, as assessed.\nFor more information on how the rates are calculated, please check the key fact statement below.&quot;}" data-sheets-userformat="{&quot;2&quot;:1063927,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:14281427},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;9&quot;:0,&quot;10&quot;:1,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:16711680},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:11,&quot;23&quot;:1}" data-sheets-textstyleruns="{&quot;1&quot;:0}{&quot;1&quot;:444,&quot;2&quot;:{&quot;2&quot;:{&quot;1&quot;:2,&quot;2&quot;:1136076},&quot;9&quot;:1}}{&quot;1&quot;:458}" data-sheets-hyperlinkruns="{&quot;1&quot;:444,&quot;2&quot;:&quot;http://www.rakbank.ae/&quot;}{&quot;1&quot;:458}"> For more information on how the rates are calculated, please check the key fact statement below.
Disclaimer:
VAT at the current rate of 5% will be levied on the Bank's fees and charges, as applicable under UAE law.

E-commerce Financing - FEE

Fees

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Buyout from other banks

POS &e-commerce- Emirates Integrated Registries Company

<ul>
<li style="font-weight: 400;" aria-level="1">It is mandatory to have a Current Account with the Bank, from where the installment/ EMI will be serviced. Use of the current account will be governed by the Terms and Conditions Governing Business Accounts available on the website www.rakbank.ae.</li>
<li style="font-weight: 400;" aria-level="1">Pay all instalments and other amounts due on the 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">Always safeguard sensitive banking details such as a/c number, cheque book, Debit Card, login ID, passwords, pin number etc.</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 Loan prior to its maturity.</li>
</ul>

E-commerce Financing - Customer Rights & Obligations

E-commerce Financing - Disclaimer

*Important Information:&nbsp;
Please use promo code &ldquo;BIZPAY&rdquo; while applying for Business Finance and use promo code &ldquo;DUBAISME&rdquo; while applying for Business Current Account through <a title="quickapply.rakbank.ae" href="https://quickapply.rakbank.ae/" target="_blank" rel="noopener">quickapply.rakbank.ae</a>.
<img src="/globalassets/rakbank/conventional/business/business-finance/business-finance/pos-ecommerce-finance/media-library/pos_quick_apply.png" alt="pos quick apply" width="100%" />

<ul>
<li style="font-weight: 400;" aria-level="1">Identified&nbsp; Point of Sales terminals / receipts from identified paymasters to be assigned to RAKBANK. For takeover cases, these have to be assigned within the time stipulated in the facility documents (usually 60 days) failing which penalty interest will apply on outstanding.</li>
<li style="font-weight: 400;" aria-level="1">While the loan may be disbursed, till such time the assignment of receivables from the&nbsp; Point of Sales terminal / paymaster is not perfected, the bank may not release any monies (apart from the proceeds to take over your loan from alternate financiers) to you. However, interest will continue to apply on the full loan outstanding even if part or all of the loan proceeds are under lien.</li>
<li style="font-weight: 400;" aria-level="1">Customer to open a &nbsp;Point of Sales receivable account with the Bank to which the receivables of the identified terminal / paymaster are to be assigned.</li>
<li style="font-weight: 400;" aria-level="1">Following disbursal of the Loan, if the Customer is unable to consistently generate the same amount of receivables as was assessed for sanction of the Loan, penalty interest will be applied.</li>
<li style="font-weight: 400;" aria-level="1">Last EMI amount may vary depending on moratorium period, changes in floating rate indices, and repayment delays.</li>
<li style="font-weight: 400;" aria-level="1">Loan tenor may vary post sanction depending on EMI deferrals sought from the Bank, repayment delays and pricing variation.</li>
<li style="font-weight: 400;" aria-level="1">Not more than 2 deferrals are allowed a year.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may reject requests for Installment deferrals if payments are irregular or if there are 4 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>

E-commerce Financing - Risks and Limitations

Eligibility

ELIGIBILITY & FEES

Take the next step towards business growth

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Need easy access to your money? Enjoy a low minimum balance and multiple currencies with the RAKBANK Business Banking Current Account in the UAE. Learn more.


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Business Current Account

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A business account without visiting a branch!

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

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FAQs

Higher eligibility against POS and e-commerce receivables

E-commerce Financing - Higher Loan Eligibility

Benefit from increased loan eligibility, loan amount up to AED 3.0 million tailored to match your business needs

Higher loan eligibility for businesses 

Higher loan eligibility

Benefits

Max loan tenure 60 months

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SERVICE DESK

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EMAIL

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SMS "BL"

Up to AED 3 million

Up to AED 3 Million

<ul>
<li style="font-weight: 400;" aria-level="1">An approval for the Loan once sanctioned is only valid for 30 days from the date of approval, and the Loan disbursal must be completed before that; failing which re-approvals need to be sought internally.</li>
<li style="font-weight: 400;" aria-level="1">If you pay off the Loan prior to the due date, you will pay prepayment charges at the rates described below.</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 a late payment fee at the rates described below.</li>
<li style="font-weight: 400;" aria-level="1">If you fail to make a payment or otherwise breach the Loan terms, this will be a default and the Bank will be entitled, among other things, to:</li>
</ul>
(a) charge penal interest of 2% p.a. for non-compliance to loan sanction terms;
(b) cancel the Loan and demand full repayment immediately;
(c) report the default to the appropriate regulatory authorities including the UAE Central Bank and Al Etihad Credit Bureau and credit rating agencies, which will affect your credit rating;
(d) bring legal proceedings against you.

E-commerce Financing - Warnings

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E-commerce Financing - Help Card

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E-commerce Financing - Grow your e-commerce business

Loan Features

Businesses engaged in e-commerce and retailers in the UAE who seek to boost their working capital and expand their operations can now avail of Finance Against POS and e-commerce receivables through RAKBANK.

Transform your business operations with Point of Sales & e-commerce Finance

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Interest rate: 15% to 20%

E-commerce Financing - Terms and Conditions

Collateral free loan

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