Apply for the best business equipment finances for your business. RAKislamic offers you the best services for your business equipment loan. Learn more.


Best Business Equipment Finances | RAKislamic

Construction Equipment Finance

Build business growth with our Construction Equipment Finance

Flexible payment periods of up to 48 months

Tabbed Box

Construction Equipment - Wrapper - Tabbed box

Due diligence, documentation and processing fees (% of Finance amount)

Due diligence, documentation and processing fees

Maximum finance amount of up to AED 35 Million

Max finance amount up to AED 35 Million. Higher for specific profiles and requirements

FAQ's Item (4)

Apply online

Product application has never been this simple

Apply Online

Construction Equipment - Cross Sell

FAQ's Item (6)

Construction Equipment - Speedy approvals

Sometimes you need equipment fast, especially if it is dependent on an upcoming project. 
This is why we offer quick approvals with minimum documentation for companies operating 2 years or longer.

Speedy approvals

Construction Equipment - Hero Item

*maximum of AED 5,000
Other fees:
Donation amount fee will be charged if the monthly instalments are not paid on time.
For more details, please refer to the<a href="/globalassets/rakbank/all-pdfs/islamic-construction-finance-sp_015-sp-vat-businessequipmentassetsfinance-islamic-24062022.pdf?MOD=AJPERES&amp;CVID=o6WQ0DW" target="_blank" rel="noopener"> Service and Price Guide.</a>

Fees

Profit rate: 4% to ~4.75% flat (not exceeding 8.75% reducing p.a.)

Profit rate: 4% to ~4.75% flat, not exceeding 8.75% reducing. Approved finances disburse at reducing rates

FAQ's Item (3)

Construction Equipment - Hero Small

business-1.png

Other fees: up to 1% of finance amount (maximum AED 5000)

Other fees: up to 1% of finance amount, max AED 5,000

Construction Equipment - Up to AED 35 Million

Get financing up to AED 35 million. However, higher amounts can be considered depending on the customer profile and requirement. 
Financing is also available for existing mortgage free assets.

Up to AED 35 million

Construction Equipment - Funding up to 90% FTV

This Finance is a Sharia-compliant product and can be structured in 2 different Sharia concepts, Murabaha or Ijarah, depending on the purpose of the Finance.
 
The Finance can be used to purchase new or second-hand vehicles.

Funding up to 90% Finance to Value

Deferral allowed, at Bank's discretion 

Construction Equipment - Flexible payments

You want the time and opportunity to make a return on your new equipment, so we offer up to 48 months of flexible payments to assist you with your new investment.

Flexible payments

In Page Floating Menu

Al Etihad Credit Bureau check 

Islamic

<ul>
<li style="font-weight: 400;" aria-level="1">Minimum 21 years old</li>
<li style="font-weight: 400;" aria-level="1">Maximum 65 years old</li>
</ul>

Eligibility

FAQ's Item (5)

Terms and Conditions Notification

Terms and Conditions

FAQ's Item (2)

<ul>
<li style="font-weight: 400;" aria-level="1">Customer contribution towards equipment procurement is to be confirmed in order to proceed with the approval.</li>
<li style="font-weight: 400;" aria-level="1">Once the Finance is disbursed, the Bank will pay the asset supplier directly, or alternatively, place the disbursed funds under lien until such time the details to pay the supplier are in order. However, profit will continue to apply on the full Finance outstanding even if part or all of the Finance proceeds are under lien.</li>
<li style="font-weight: 400;" aria-level="1">No more than 2 deferrals of instalments are allowed per year.</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 4 cheque / Direct Debit System (DDS) returns in the last 12 months, or if the request does not meet the Banks internal risk policy requirements.</li>
</ul>

Important Information

EMI return charges - Cheque / Standing Instruction (for each instalment):

EMI return charges - Cheque/Standing Instruction (for each instalment):

Of up to AED 5 million

Business Finance

Expand your business with a flexible, collateral-free financing



Equated Monthly Instalment

You can apply for this product using <a href="https://rakbankonline.ae/Digital/AuthenticationController?FORMSGROUP_ID__=AuthenticationFG&amp;__START_TRAN_FLAG__=Y&amp;__FG_BUTTONS__=LOAD&amp;ACTION.LOAD=Y&amp;AuthenticationFG.LOGIN_FLAG=1&amp;BANK_ID=RAK&amp;USER_TYPE=1" target="_blank" rel="noopener">RAKBANK Digital Banking</a>. Here are the steps: 1.Go to&nbsp;<a href="http://www.rakbank.ae/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=http://www.rakbank.ae&amp;source=gmail&amp;ust=1687508562826000&amp;usg=AOvVaw02TXDJiNUympHIWw84JK-0">www.rakbank.ae</a> 2.Select the &ldquo;Business&rdquo; from Digital Banking login type 3.Login using your Username &amp; Password 4.Click on "Discover &amp; Apply" 5.Select the desired product

Business - Apply through Digital Banking

Log in to RAKBANK Digital Banking and apply instantly

Apply through Digital Banking

Construction Equipment - FAQ's

With Salary Transfer

Documentation

<ul>
<li>All types of vehicles / equipment to be financed under the Finance have to be part of the Bank&rsquo;s approved list of vehicles / manufacturer / dealers.</li>
<li style="font-weight: 400;" aria-level="1">The Bank will pay the dealer directly.</li>
<li>Last monthly commitment amount may vary depending on moratorium period, changes in floating rate indices, and payment delays.</li>
<li>Finance tenure may vary post sanction depending monthly commitment deferrals sought from the Bank, payment delays and pricing variation.</li>
<li>If you fail to make any payments due under the Finance or otherwise breach our terms, we reserve the right to repossess the assets and liquidate / sell the same to settle the outstanding amount.</li>
<li>The Bank may reject requests for monthly commitment deferral if payments are irregular, or if there are cheque / Direct Debit System returns in the last 12 months, or if the request does not meet the Bank&rsquo;s internal risk policy requirements.</li>
</ul>

Risks and Limitations 

Business Finance - Real Estate Finance | RAKBANK UAE

Real Estate Finance

Time to buy or finance your own property



01_Construction_Equipment.jpg

<ul>
<li style="font-weight: 400;" aria-level="1">Finance offered based on identification of equipment, evaluation of business model and payment capability.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms and conditions of the Finance with 60 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the profit rates for the Finance with 30 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">If a flat rate is quoted at the stage of disbursal, the Bank will convert the same to a reducing rate to draw out the payment schedule.</li>
<li style="font-weight: 400;" aria-level="1">Profit will be calculated daily as: Principal outstanding x profit rate x 1 day / 360 days. The accumulated amount of this profit for one monthly commitment date will be charged on the next monthly commitment date.</li>
<li style="font-weight: 400;" aria-level="1">The residual monthly commitment amount after profit allocation will be allocated towards principal recovery.</li>
</ul>

Eligibility & Fees

Secure your Construction Equipment Finance today

Divider title with apply now - You’re a few minutes

FAQ Accordion Items

Construction Equipment - Help card Divider title

Construction Equipment - Wrapper - Feature card

Terms And Conditions

Construction Equipment - Cross sell Divider title 

Would you like more?

Benefits

Construction Equipment - feature card container

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

FAQ’s Help Card - Islamic

FAQs

Construction Equipment - Help Card

<ul>
<li style="font-weight: 400;" aria-level="1">Minimum turnover AED 1M</li>
<li style="font-weight: 400;" aria-level="1">Minimum 3 years in business</li>
<li style="font-weight: 400;" aria-level="1">Valid Trade License</li>
<li style="font-weight: 400;" aria-level="1">Provide business documents such as Memorandum of Articles &amp; Power of Attorney (if applicable)</li>
<li style="font-weight: 400;" aria-level="1">Provide details pertaining to assets</li>
<li style="font-weight: 400;" aria-level="1">Other banking or financing documentation such as VAT returns &amp; bank statements.</li>
</ul>

Other Requirements

Construction Equipment - Divider title - Feature Card

Finance Features

<div class="epi-form-container__section__label-container">
<div class="epi-form-container__section__label-container">
<div class="epi-form-container__section__label-container">
<div class="epi-form-container__section__label-container">
New projects can require new equipment and that is where our Construction Equipment Finance comes into play.
Don&rsquo;t knock back work because you don&rsquo;t have the right equipment. Apply for finance today so you can keep growing your business and expanding your network.
 
<div class="epi-form-container__section__tooltip" data-dojo-attach-point="propertyTooltip">
<div id="dijit__WidgetBase_800">
<div class="epi-property-description" data-oui-component="true" data-test-section="help-popover">
<div class="click-area">&nbsp;</div>
</div>
</div>
</div>
</div>
<div id="uniqName_18_107" class="epiTinyMCEEditor dijitContainer">&nbsp;</div>
</div>
</div>
</div>

Giving you the capacity to take on more

Prepayment charges (% of outstanding amount being settled)

Prepayment charges

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.

Finance Features

Giving you the capacity to take on more

Eligibility & Fees

Secure your Construction Equipment Finance today

Would you like more?

Relevant links

We’re here to help

Banking that works around your business

Finance Features

Giving you the capacity to take on more

Funding up to 90% Finance to Value

Up to 35 million

Flexible payments

Speedy approvals

Eligibility & Fees

Secure your Construction Equipment Finance today

Would you like more?

Relevant links

We’re here to help

Banking that works around your business