Everyday Banking - Business Advantage Account | RAKBANK UAE

Business Advantage Account

Based on the Islamic Principle of Mudaraba

Empowering business with intelligent banking

Key Fact Statement

Service and price guide

Frequently Asked Questions

Terms and conditions

RAKvalue SME

Call investment deposit

Fawrun Term deposit

Business finance

Business Advantage Account - Relevant links

Business Advantage Account - feature card container

Business Advantage Account - Maintain a monthly

Business Advantage Account - Hero Item

Business Advantage Account - Eligibility

Hero-1920*1080-Business Advantage Account.jpg

Apply online

Product application has never been this simple

Apply Online

Savings Account 

Business Advantage Account - Savings Account 

Business Advantage Account Account - Account Features

Account Features

Launching a new venture comes with plenty of decisions. Your bank account shouldn&rsquo;t be one of the complicated ones. That's why we've created the Business Advantage Account to give you a smoother, simpler banking experience.
Enjoy the flexibility of multi-currency account options, competitive profit rates, exclusive business financing offers, and a host of additional features designed to support your business growth.

Your first step toward smart business banking

Business Advantage Account - Terms and Conditions Notification

Terms and Conditions

Business Advantage Account - Unlimited chequebook facility 

Your first cheque book is provided for free, once per year. Additional cheque books can then be purchased through Digital Banking or a RAKBANK branch.

Unlimited cheque book facility

Benefits

More convenience & excellent benefits

Business Advantage Account- Feature Interaction

No minimum monthly balance required
For more details about Business Advantage Account fees and charges, please refer to our&nbsp;<a title="Service and Price guide." href="/globalassets/rakbank/all-pdfs/002---islamic---service-and-price-guides/bilingual/026-j00807-sp-vat-businessaccountservices-islamic.pdf" target="_blank" rel="noopener">Service and Price Guide</a>.

Business Advantage Account - Fees

Fees

business-1.png

Use our branch and ATM machine locator to find the nearest RAKBANK facility to you within the Middle East, in just a few clicks. Timings are available too.


RAKBANK Branches And ATM Machines Near Me In UAE |RAKBANK UAE

Branches & ATMs

In Page Floating Menu

Business Advantage Account - Hero Small

Call Me Back Option - Business RAKStarter

Submit your details and we’ll be in touch soon

Let’s talk about RAKstarter Account

Business Advantage Account - With Salary Transfer

No minimum monthly balance required

RAKStarter Account - Help Card

Business Advantage Account - Wrapper - Feature Card

RAKStarter Account - We’re here to help

Eligibility

Monthly Statement/Frequency or as per customer request

BAA - Monthly Statement/Frequency or as per customer request

AED 5,000-19,999

AED 10,000-14,999

 Profit rate is applicable

 Business Advantage Account - Profit rate applicable: YES

Business Advantage Account - Terms And Conditions

Business Advantage Account - Terms and Conditions

Business Advantage Account - Attractive FX & trade finance rates

Experience seamless and cost-effective transactions with the Business Advantage Account. 
Benefit from our attractive foreign exchange and trade finance rates, designed to support your cross-border business endeavours and help you prosper in the global market. 
 
* Sharia-compliant

Attractive foreign exchange and trade finance rates*

Attractive FX & trade finance rates

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 

No minimum monthly balance

Business Advantage Account - No minimum monthly balance

RAKvalue & benefits applicable

Business Advantage Account - RAKvalue & benefits applicable

<ul>
<li style="font-weight: 400;" aria-level="1">Any company with a valid trade licence to operate within the UAE</li>
<li style="font-weight: 400;" aria-level="1">Length of business, more than 1 year</li>
</ul>

Business Advantage Account - Age

Dedicated support & 24/7 Phone Banking service

Business Advantage Account - Personalised service and support

Experience exceptional banking convenience with a Business Advantage Account. 
Enjoy the expertise of a dedicated Relationship Manager, who will guide you through your financial journey, and take advantage of our 24/7 Phone Banking services for seamless support anytime, anywhere.


Personalised service and support

Business Advantage Account -  Islamic savings amplified

Business Advantage Account is based on the Islamic principle of ‘Mudaraba’, which means you can earn profit on your savings. The profit is declared and credited to your account on a quarterly basis.

 Islamic savings amplified

Business Advantage Account - Wrapper - Tabbed box

Business Advantage Account - Closure of Account within 6 months

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

Business Advantage Account - Global Tabbed Box

Monthly maintenance fee: AED 99 

Business Advantage Account - Monthly maintenance fee: AED 99 

Business - Apply through the RakMobile

Download the RAKBANK Business App and apply instantly

Apply via the RAKBANK Business app

No Ledger fees

Business Advantage Account - No Ledger fees

Business Advantage Account - Various currencies available

Take control of your finances and overseas transactions with the option of various currencies.
 
Business Advantage Account is available in AED and USD.

Various currencies available

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.

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

Global - Business - RAKBANK Business

Banking that works around your business

<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms and conditions of the Account 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 Account with 30 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">If the Account is not used for a period of 1 year, it will be designated as inactive and you will not be able to transact unless activated again.</li>
<li style="font-weight: 400;" aria-level="1">If the Account balance is not sufficient to settle outstanding dues, these will be recovered as and when the Account is funded or alternatively from any other account held by the customer with the Bank.</li>
</ul>
Customer Rights and Obligations
You are required to:
<ul>
<li aria-level="1">Review this document and all other terms and conditions set out in the application form in detail;</li>
<li>Regularly check our website (www.rakbank.ae) for updates;</li>
<li>Notify the Bank in writing if there is a change in your employment or income details, contact details, residential status, identification details, financial details or any other material information as declared in the application form; and</li>
<li>Always safeguard sensitive banking details such as Account number, chequebook, Debit Card, login ID, passwords, PIN, etc.</li>
</ul>
Risks and Limitations
<ul>
<li>Customers who want to open a Business Advantage Account must have a legitimate source of business income.</li>
<li>A chequebook is provided only to eligible customers based on AECB score / Bank&rsquo;s approval.</li>
</ul>
Warnings
<ul>
<li aria-level="1">Foreign currency denominated accounts may incur foreign currency services. Applicable foreign currency services will be debited from the available balance for customers availing such foreign currency services. This may cause reducing balance even without customer induced withdrawals.</li>
<li aria-level="1">The Bank may close the Account if the customer KYC or identification documents are not updated regularly, or if required as internal policies, or upon request from regulatory / judiciary entities.</li>
</ul>

Business Advantage Account - Key Terms and Conditions

<ol>
<li>Your Emirates ID</li>
<li>Your Passport with valid residency visa</li>
<li>Any of the following proof of income</li>
</ol>
<ul>
<li>Salary Certificate</li>
<li>Bank Statements</li>
<li>Payslips</li>
<li>Labour Contract</li>
</ul>

Account Features

Your first step toward smart business banking

Eligibility & Fees

Your account is just a few minutes away

Relevant links

We’re here to help

Banking that works around your business