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

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2.45% (salaried) to 3.45% (business)
 flat rate p.a.

Profit rates starting from

Green Auto Finance

Go green and switch to an electric or hybrid car

Finance options up to AED 2,000,000 (subject to DBR)

*minimum AED 500 and maximum AED 2,500
**minimum AED 500 and maximum AED 7,500

Fees

More funds for your energy-saving efforts

High finance amount

Benefit from finance amounts of up to AED 2,000,000 to spend on your energy saving efforts. 

What's more, you may also avail of up to AED 2,500,000 as a top-up finance, subject to satisfaction of your Debt-Burden Ratio (DBR).

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

Processing fee

How can I apply for finance top-up?

How can I view my finance repayment schedule/loan statement?

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With Salary Transfer

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.


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Branches & ATMs

Eligibility

Eligibility - tabListingBullet - Parent

<ul>
<li>UAE National or Salaried expatriate, residing and living in the UAE</li>
</ul>

Residency

Interest rate from 4.74%

Interest rate from 5.44%

Easy finance takeover option

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How can I apply for a liability and/or no-liability certificate?

Islamic

AED 50,000-above

Green Personal Loan - FAQ's

<ul>
<li>21 years old and above</li>
</ul>

Discounted Takaful fees offered to UAE nationals

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Terms and Conditions Notification

Important Information 

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Flexible payment options

We understand that everyone has different needs when it comes to financing. 
That’s why we offer flexible payment instalments of up to 48 months, so that you can choose an option that works best with your budget and lifestyle.

Flexible Repayment Options

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AED 5,000-19,999

AED 20,000-49,999

Consolidate your outstanding amount into one easy finance

Finance takeover option

Free up your time and avoid the hassle of having to make multiple monthly finance payments. 
With a Green Personal Finance takeover option, you can merge all your outstanding amount from other banks into one finance that you can pay in single monthly payments.

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<ul>
<li>Minimum salary of AED 5,000 per month</li>
</ul>

Other Requirements

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Finance Features

Now you can save on your expenses and save the planet at the same time! Our Green Personal Finance offers easy finance options for environmentally friendly purchases like solar panels and energy efficient products and appliances for your home.

Finance for your sustainable purchases

How can I apply for Finance?

Flexible repayments (up to 48 months)

Flexible payments (up to 48 months)

How can I apply for finance rescheduling?

FAQ Accordion Items

How can I apply for a finance instalment waiver/postpone/deferral?

Features & Benefits

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

FAQ’s Help Card - Islamic

FAQs

Terms And Conditions

Terms and Conditions

Islamic Green Personal Loan

Due diligence, documentation and processing fee for business customers (% of Finance amount)

Processing fee for business customers

<ul>
<li 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.</li>
<li aria-level="1">The Bank may amend the profit rates for the Finance with 30 days&rsquo; notice to you in advance.</li>
</ul>
 Risks and Limitations
<ul>
<li style="text-align: justify;">Only 2 deferrals are allowed in a year,, one month at a time subject to a minimum of 6 installments 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>
</ul>
 Customer Obligations You are required to:
<ul>
<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; and</li>
<li style="text-align: justify;">Notify the Bank in writing if you wish to prepay your Finance prior to its maturity.</li>
</ul>
 Warnings
<ul>
<li style="text-align: justify;">For a period of 3 consecutive months, if the salary credited to your salary account is less than 75% of the declared salary, or if salary is not regularly credited during these 3 months, you will be obliged to pay 2% per annum above the rate of profit originally agreed until the completion / settlement of the Finance.</li>
<li style="text-align: justify;">If you pay off the Finance prior to the due date, you will pay prepayment charges at the rates described in the Service and Price Guide.</li>
<li style="text-align: justify;">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 in the Service and Price Guide.</li>
<li style="text-align: justify;">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:
<ul>
<li style="text-align: justify;">(a) Cancel the Finance and demand full repayment immediately;</li>
<li style="text-align: justify;">(b) Report the default to the appropriate regulatory authorities and credit rating agencies, which will affect your credit rating;</li>
<li style="text-align: justify;">(c) Bring legal proceedings against you.</li>
</ul>
</li>
</ul>
&nbsp;

Key Terms & 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>

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Green Mortgage Finance

Fulfil your dream to buy a BARJEEL-certified home



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Finance Features

Finance for your sustainable purchases

Eligibility & Fees

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