E-Commerce & POS Financing

POS/Ecommerce Finance

Grow your e-commerce business to new heights

Point of Sales and e-commerce Finance

POS/Ecommerce Financing - FAQ's

<ul>
<li style="font-weight: 400;" aria-level="1">It is mandatory to have a Current Account with the Bank, from where the instalment/ 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 and 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 Account number, chequebook, Debit Card, login ID, passwords, PIN, 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 Finance prior to its maturity.</li>
</ul>

Customer Obligations 

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POS/Ecommerce Financing - Contact us

We're here to assist you with any queries regarding POS Financing. Feel free to contact us through any of the following channels:

Contact us

Partial or full early settlement of finance:

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Key Fact Statement

Service and Price Guide

Terms and Conditions

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Eligibility

Fees

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Payment: Monthly Commitment (Equated Monthly Instalment)

Terms And Conditions

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Terms and Conditions Notification

Important Information 

POS/Ecommerce Financing - Collateral-free financing

Experience the freedom of collateral-free financing. 
Our Point of Sales Financing offers competitive profit rates, allowing you to invest more in your business and worry less about your financing.

Collateral-free financing

Fees item(2)

Islamic

Processing, due diligence & documentation fees: up to 2.5% of finance amount

Processing and other fees: % of finance, up to 2.5% max of the amount

With Salary Transfer

AED 50,000-above

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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 RAKislamic.
Additionally, you may also avail of our Business Account, at zero monthly account balance, and get a curated offering for businesses of all sizes.
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Transform your business operations with Point of Sales & e-commerce Finance

Deferral allowed, at Bank's discretion 

Maximum finance amount of up to AED 3 million

RAKislamic offers you the Amal current account that helps you managing all your day-to-day banking needs with easy, backed by RAKBANK. Know the top benefits.


Business Everyday Banking - Business Current Account | RAKislamic UAE

Business Current Account

Empower your business with great benefits

Business Current Account 

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SMS "BL" to

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

FAQ's Item (2)

POS/Ecommerce Financing - Cash finance evaluation

We provide cash finances based on a comprehensive evaluation of your POS receivables, business model, and repayment capability. This transparent process ensures you get the financing that fits your business.

Cash finance evaluation

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AED 5,000-19,999

AED 10,000-14,999

AED 20,000-49,999

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Call Me Back Option - Islamic Finance

Submit your details and we’ll be in touch soon

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POS/Ecommerce Financing - Any Point of Sales provider

Our Point of Sales (POS) Financing accepts receivables from any POS service provider. This wide-ranging compatibility ensures your business operations continue smoothly, no matter what POS service provider you use.

Any Point of Sales provider

Apply Online - Business finance

Take your business further through our easy Business Finance Solutions

Apply online

Introducing our RAKislamic Business Debit Card

Explore the benefits of RAKBANK Islamic Banking's Business Debit Card. Sharia-compliant banking with business-friendly features. Discover more today from RAKislamic.


Easy Shop for Business Debit Card | RAKislamic

Business Debit Card

Discover a debit card that's built for business

RAKislamic Business Debit Card 

POS/Ecommerce Financing - Cross Sell

Eligibility & Fees

Take the next step towards business growth

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Other fees:
<ul>
<li>Due diligence, documentation and processing Fees (if any) at the time of onboarding will be quoted as a percetage of the finance amount, but not exceeding 2.5%</li>
<li>Donation amount if the EMI due is not paid by the due date:
<ul>
<li>1 EMI overdue - AED 300</li>
<li>2 EMIs overdue - AED 400</li>
<li>Over 2 EMIs overdue - AED 550</li>
</ul>
</li>
</ul>
Disclaimer:
VAT at the current rate of 5% will be levied on the Bank's fees and charges, as applicable under UAE law.

POS/E-commerce Financing -Higher financing eligibility

Benefit from increased financing eligibility, tailored to match your business needs. With repayment options extending up to 60 months, manage your capital efficiently and flexibly.

Higher financing eligibility

<ul>
<li style="font-weight: 400;" aria-level="1">Identified POS 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 a donation amount will apply on outstanding.</li>
<li style="font-weight: 400;" aria-level="1">While the Finance may be disbursed, until such time the assignment of receivables from the POS terminal / paymaster is not perfected, the Bank may not release any monies (apart from the proceeds to take over your Finance from alternate financiers) to you. 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">Customer to open a POS 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 the disbursal of the Finance, if the Customer is unable to consistently generate the same amount of receivables as was assessed for sanction of the Finance, donation rate 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">Finance tenure 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">No 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>

Risks and Limitations 

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POS/Ecommerce Financing - Quick approval process

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

Quick approval process

FAQ Accordion Items

<ul>
<li style="font-weight: 400;" aria-level="1">An approval for the Finance, once sanctioned, is only valid for 30 days from the date of approval, and the Finance 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 Finance 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 donation amount 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 Finance terms, this will be a default and the Bank will be entitled, among other things, to:</li>
</ul>
(a) charge a donation amount of 2% p.a. for non-compliance to Finance sanction terms;
(b) cancel the Finance and demand full payment immediately;
(c) report the default to the appropriate regulatory authorities and credit rating agencies, which will affect your credit rating;
(d) bring legal proceedings against you.

Warnings

SERVICE DESK

Islamic POS/ Ecommerce Finance

Benefits

To apply for a POS / e-commerce Finance, you must:
<ul>
<li>Have a valid trade licence‬‬</li>
<li>Provide other business documents such as Memorandum‬‬ of Articles or Power of Attorney (if applicable)</li>
<li style="font-weight: 400;" aria-level="1">Provide other‬‬ ‪banking or financing assessment information / documentation (if, and‬‬ as applicable)</li>
<li style="font-weight: 400;" aria-level="1">Meet the Bank&rsquo;s financing criteria</li>
</ul>

Other Requirements

EMAIL

AED 30,000 & above

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

FAQ’s Help Card - Islamic

FAQs

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Profit rate from 15.75% to 18% reducing p.a.

Profit rate: 13% to 17%, reducing annually. Approved finances disburse at reducing rates.

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

Download the RAKBANK Business app!

Simplify your banking experience with our feature-rich app. From payments to payroll, our comprehensive Banking Solutions provide everything you need to manage your business finances from one secure and easy-to-use platform.

Scan the QR code to download the app from the Google Play Store

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Your all-in-one financial partner

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Maximum tenure: 60 months

Max tenure: 60 months

<ul>
<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>
</ul>

Key Terms and Conditions

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Grow your e-commerce business