Business Finance - Real Estate Finance | RAKBANK UAE

Real Estate Finance

Time to buy or finance your own property



<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms and conditions of the Finance with prior notice of 60 days 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' notice to you in advance.</li>
</ul>

Terms and Conditions

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Eligibility

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Profit rates starting from 5% to 9% reducing rate p.a.

profit rate: 5% to 9%, reducing based on profile and merit. May link to SME Prime Rate or EIBOR. Approved finances disburse at reducing rates.

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With Salary Transfer

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Real Estate Finance - Flexible payments

We understand that the unexpected happens. To alleviate the pressure, we offer a maximum tenure of up to 120 months and the option of paying your financing in monthly or quarterly instalments.

Flexible payments

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Key Fact Statement FIGP

Key Fact Statement CREL

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Islamic

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Terms And Conditions

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

Processing fee

Payment: Monthly Commitment (Equated Monthly Instalment)

Of up to AED 5 million

Business Finance

Expand your business with a flexible, collateral-free financing



<ul>
<li>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>If you pay off the Finance prior to the due date, you will‬‬ pay prepayment charges at the rates described below.‬‬</li>
<li>If you are late or fail to make a payment on the due‬‬ ‪date, you will pay a donation amount at the rates described below.‬‬ </li>
<li>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 you 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; and ‫‪(d) bring legal proceedings against you.

Warnings

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Finance Features

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<div class="epi-form-container__section__label-container">Business entities operating in the UAE and looking to acquire finance to purchase ready-to-use property, construct property for commercial purposes, take over commercial real estate financing from other banks, or require additional finance for working capital, can now apply for our Real Estate Financing. 
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Expand, grow, excel

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

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EMCR fee at Finance‬‬ disbursal (per security document)

EMCR fee at Finance‬‬ disbursal

AED 5,000-19,999

AED 10,000-14,999

Requirements
To apply for a Real Estate Finance, you must:
<ul>
<li style="font-weight: 400;" aria-level="1">Have a valid trade licence</li>
<li style="font-weight: 400;" aria-level="1">Provide business documents such as Memorandum of Articles and Power of Attorney</li>
<li style="font-weight: 400;" aria-level="1">Provide other banking or finance assessment information / documentation</li>
<li style="font-weight: 400;" aria-level="1">Meet the Bank&rsquo;s finance criteria</li>
<li style="font-weight: 400;" aria-level="1">Term Finance offered basis evaluation of company size, business model and payment capability</li>
<li style="font-weight: 400;" aria-level="1">Age of the owner / signatory / management personnel must be a minimum of 21 years and a maximum of 70 years for UAE Nationals and 65 years for Expats at Finance maturity</li>
<li style="font-weight: 400;" aria-level="1">Provide details of your business model, suppliers, vendors, contractors, buyers, or clients, etc.</li>
</ul>

Other Requirements

Finance Shield Life‬‬ ‫‪Takaful contribution (per month)

Finance Shield Life‬‬ ‫‪Takaful

*or AED‬‬ ‫‪1,000,000 (whichever is lower), for‬‬ each key person.‬
Please refer to the<a href="/globalassets/rakbank/all-pdfs/islamicrealestate_kfs082islamiccrel23062022.pdf" target="_blank" rel="noopener"> Key Fact Statement</a> for more details.

Fees

Deferral allowed, at Bank's discretion 

Processing & other fees: up to 2% of finance amount

Processing and other fees: up to 2% maximum of finance amount

Maximum tenure: 120 months

Max tenor: 120 months

FAQ Accordion Items

Finance amount: AED 300,000 to AED 25 Million

Finance amount: from AED 300,000 to AED 25 Million

<ul>
<li style="font-weight: 400;" aria-level="1">Customer contribution, if any as per the Finance agreement, to be deposited in their RAKislamic / RAKBANK Account.</li>
<li style="font-weight: 400;" aria-level="1">Once the Finance is disbursed, a consolidated Manager's Cheque will be issued as per the Finance agreement if the purpose of the Finance is for purchasing a property or takeover of Finance from an alternate financier.</li>
<li style="font-weight: 400;" aria-level="1">The last EMI amount may vary depending on the moratorium period, changes in the floating rate indices, and payment delays.</li>
<li style="font-weight: 400;" aria-level="1">Finance tenure may vary post sanction depending on EMI deferrals sought from the Bank, EMI date change requests, payment delays and pricing variation (if any).</li>
<li style="font-weight: 400;" aria-level="1">If you fail to make any payment due under the Finance or otherwise breach our terms, we reserve the right to repossess the asset (if applicable) and liquidate / sell the same to settle the outstanding amount.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may reject requests for instalment 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 Bank's internal risk policy requirements.</li>
</ul>

Risks and Limitations 

Al‬‬ ‪Etihad Credit Bureau (AECB) fee at Finance‬‬ ‫‪disbursal‬‬

AECB fee at Finance‬‬ ‫‪disbursal‬‬

Benefits

AED 30,000 & above

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

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FAQs

Real Estate Finance - Up to AED 250 Million

Take a minimum of AED 5 million and a maximum of AED 250 million in Real Estate Finance (for UAE National-owned entities) to boost your business. 
For expatriate-owned businesses, we offer finance of up to AED 150 million.

Up to AED 250 million

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Real Estate Finance - Up to 75% Finance to Value

Based on the property’s type, location, and age, you can benefit from amounts of up to 75% in Finance to Value. 

Up to 75% Finance to Value

Call Me Back Option - Business Finance w/o salary

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Eligibility & Fees

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Business Finance - Machinery Finance | RAKislamic UAE

Machinery Finance

Invest in machinery and commercial assets to expand your business

Real Estate Finance - Packed with more options

You can also benefit from Trade Finance or Working Capital Products against the mortgaged property with RAKislamic. 
Enjoy finance amounts starting from AED 300,000 up to AED 25 million.

Finance Features

Expand, grow, excel

Up to 75% Finance to Value

Up to 250 million

Flexible payments

Packed with more options

Eligibility & Fees

Secure your Financing today

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Banking that works around your business