2.89% (salaried) to 3.55% (business)
 flat rate p.a.

Profit rates starting from

Green Auto Finance

Go green and switch to an electric or hybrid car

Joint ownership option

Green Auto Finance - Cross Sell

Green Auto Finance-With Salary Transfer

 With Salary Transfer

Green Auto Finance-Q5

Islamic Green Auto Loan

Minimal formalities

Now you can drive away in your dream green car faster than ever before. 
Our Green Auto Finance ensures minimum formalities and flexible payment periods that will put you in the driver’s seat quickly and conveniently.

Green Auto Finance-Terms and Conditions

Profit rate starting from

RAKislamic initiates green finance options with sustainable choices. Get attractive interest rates for auto, personal, etc. green financial options in UAE.


Types of Green Finances | RAKislamic

Green Personal Finance

Profit rates starting from 2.89% to 3.55% p.a (fixed)

Profit rates starting from 2.49% to 3.99% p.a. (fixed)

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

Branches & ATMs

<div class="tab-terms-conditions__important-info-body--desc rak-table">
<ul>
<li>The Bank may amend the features, fees, charges, terms and conditions of the Finance with 60 days' notice to you in advance.</li>
<li>The Bank may amend the profit rates for the Finance with 30 days&rsquo; notice to you in advance. </li>
</ul>
</div>
 Warnings
<ul>
<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 default profit 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) Cancel the Finance and demand full payment immediately.
(b) Report the default to the appropriate regulatory authorities&nbsp; and credit rating agencies, which will affect your credit rating.
(c) Bring legal proceedings against you and repossess the mortgaged vehicle.

Green Auto Finance- Key Terms and Conditions

Requirements:
<ul>
<li>
Salaried individuals and pensioners
</li>
<li>
Self employed individuals with a valid UAE visa&nbsp;
</li>
<li>
Business entities in the UAE (at least 2 years in business)
</li>
<li>
Electric or hybrid vehicle and must be purchased from a dealership based within the Emirate of Ras Al Khaimah
</li>
</ul>

Green Auto Finance - Eligibility

Eligibility

Green Auto Finance-Q6

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Green Personal Loan - Help Card

Eligibility & Fees   

You're closer to getting your dream green car than you think

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Islamic

AED 50,000-above

Green Auto Finance - Wrapper - Tabbed box

Green Auto Finance-Fees

Key Fact Statement

Green Auto Loan - Relevant links

Green Auto Finance-Tabbed Box

Flexible payments (up to 60 months)

Affordable finance options

Green Auto Finance offers convenient and affordable financing options to fit any budget. 
Individual customers will enjoy a 1% due diligence, documentation and processing fee, with a minimum fee of AED 500 and a maximum of AED 2,500.
 
Business customers will enjoy an even better deal — a 1.5% due diligence, documentation and processing fee, with a minimum of AED 2,500 and a maximum of AED 7,500.

Affordable finance options 

Green Auto Finance-Q1

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Green Auto Finance - Wrapper - Feature container

Green Auto Finance-Q2

Green Auto Finance - FAQ's

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*minimum AED 500, maximum AED 2,500

Fees

Green Auto Finance - Hero Item

AED 5,000-19,999

AED 10,000-14,999

AED 20,000-49,999

Green Auto Finance-Eligibility

Call Me Back Option - Islamic Finance

Submit your details and we’ll be in touch soon

Call me back

Electric or hybrid, your choice

Choose from a variety of electric and hybrid vehicles available at any of the dealerships in the Emirate of Ras Al Khaimah.

No approval fees

Green Auto Finance Terms and Conditions Notification

Important Information

FAQ Accordion Items

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Upgrade your experience

Green Personal Loan - We’re here to help

Features & Benefits

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

Green Auto Finance - Divider Title Feature Card

Finance Features

If you are in Ras Al Khaimah and prefer working towards a greener planet, you can now pick your favorite ride from a variety of electric and hybrid vehicles, available from any of the dealerships in the Emirate.
&nbsp;

Drive towards a greener future

Easy processing and flexible terms

Drive away in a leaner, greener vehicle sooner than you think. 

Processing is within 7 business days of signing the application. 

Your first instalment is not due until after the first 60 days, with flexible payment periods of up to 60 months.

Green Auto Finance-Q3

<ul dir="ltr">
<li style="text-align: justify;">Only 2 deferrals are allowed in a year one month at a time subject to minimum 6 instalments repaid since the finance or last deferral was availed.</li>
<li style="text-align: justify;">Instalment deferral cannot be given if payments are irregular, or if there are 4 cheques / 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>
<li style="text-align: justify;">If you fail to make any payment due under the Finance or otherwise breach our terms, you will lose the vehicle mortgaged to the Bank as a result of the mortgage enforcement proceedings that we may take. </li>
</ul>
Customer Obligations
As the Finance is being paid in equal monthly instalments, customers need to ensure that they are financially capable of paying the finance each month through the Finance tenure.
You are required to:
<ul dir="ltr">
<li style="text-align: justify;">Pay all instalments and other amounts due on the due dates without delay.</li>
<li style="text-align: justify;">Review this document and all other terms and conditions set out in the application form in detail.</li>
<li style="text-align: justify;">Regularly check our website <a href="http://www.rakbank.ae">www.rakbank.ae</a> for updates.</li>
<li style="text-align: justify;">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.</li>
<li style="text-align: justify;">Notify the Bank in writing if you wish to prepay your Finance prior to its maturity.</li>
</ul>

Green Auto Finance - Risks and Limitations

<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>

Visit A Branch

A specialist will be able to assist you with the process

Visit a branch

Green Auto Finance-Terms And Conditions

Terms and Conditions

Featured profit rate

Green Mortgage Finance

Fulfil your dream to buy a BARJEEL-certified home



Green Auto Finance-Q4

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Discover the RAKBANK App and enjoy cutting-edge Digital Banking services at your fingertips. Seamlessly manage your accounts, conduct secure transactions, and enjoy a range of innovative features – all in one user-friendly platform.

Finance Features

Drive towards a greener future

Profit rates starting from

2.89%

Minimal formalities

Easy processing and flexible terms

Electric or hybrid, your choice

Affordable finance options

Eligibility & Fees

You're closer to getting your dream green car than you think

Upgrade your experience

Relevant links

We’re here to help

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