Interest rates starting from

Achieve your financial goals with RAKBANK Personal Loans. Enjoy competitive rates, flexible terms, and a quick application process.

Personal Loans With Low Rates & Flexible Terms | RAKBANK UAE

Personal Loan

Turn plans into reality with low-Interest, flexible loan

No valuation fees

Application Form

AECB Enquiry Form

Customer Consent Form

Key Fact Statement

Service and Price Guide

Terms and Conditions

Personal Loan - Relevant links

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What Card is right for me

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Personal Loan - Competitive interest rates

Interest rates range from 5.49% to 19.99% reducing rate p.a., Check out our loan calculator tool to find out your monthly loan instalment. *Rates are subject to change based on market conditions from time to time.

Competitive interest rates

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Personal Loan - Eligibility

Eligibility

Salary transfer to RAKBANK is required

Credit Cards

Flexi Fixed Deposit

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Emirates Skywards World Elite

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

Download the RAKBANK Mobile app!

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.

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

Standard Current Account - RakMobile

Bank on the go anytime, anywhere

Warnings
<ul>
<li>If you pay off the Loan prior to the due date, you will be subject to prepayment charges as per the described rates in the Service and Price Guide. </li>
<li>If you are late in payment or fail to make a payment on the due date, you will pay default interest at the rates described in the Service and Price Guide.</li>
<li>If you fail to make a payment or otherwise breach the Loan terms, this will be a default and the Bank will be entitled, among other things, to:</li>
</ul>
(a) Cancel the Loan and demand full repayment immediately;
(b) Report the default to the appropriate regulatory authorities and credit rating agencies, which will affect your credit rating;
(c) Bring legal proceedings against you.

Personal Loan - Terms And Conditions

Terms & Conditions

Age:
<ul>
<li>21 years or older</li>
</ul>
Residency:
<ul>
<li>Salaried expatriate, residing and living in the UAE</li>
</ul>
Other Requirements:
<ul>
<li style="font-weight: 400;" aria-level="1">End-of-service benefits and salary transfer to RAKBANK is required until the repayment of your Personal Loan is completed</li>
<li style="font-weight: 400;" aria-level="1">Minimum Al Etihad Credit Bureau (AECB) score of 541</li>
<li style="font-weight: 400;" aria-level="1">Customer must be employed with a RAKBANK-approved employer</li>
<li>Minimum monthly salary of AED 5,000</li>
</ul>

Personal Loan - Salaried individuals

ELIGIBILITY & FEES

You're closer to your ideal loan than you think

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Debit Cards

Personal Loan - We’re here to help

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Branches & ATMs

Segment - Personal

Standard interest rates starting from 5.49% p.a. 

Standard Interest Rates starting from: 5.99% p.a. 

Personal Loan - With Salary Transfer

With Salary Transfer

Titanium Credit Card

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Personal Loan - Move loan

If you already have a Personal Loan with another bank in the UAE, you can switch it to RAKBANK quickly and easily.

Move your loan from another bank

Personal Loan - Fees

In Page Floating Menu

AED 50,000-above

Cards

Max tenor: 48 Months for non MOD customers, 60 Months for MOD customers

RAKbooster

Call Deposit

Personal Loan - Top up your existing loan

After one year of regular repayments on your Personal Loan, you can apply to top it up to the original amount.

Top up your existing loan

High Flyer Platinum

Elite Platinum Mastercard

Personal Loan - Processing Fees

Rakvalue Credit Card

Conventional Personal Loan

Note, instalment amount comprises of repayment towards principal and interest. Please note the interest calculation is not based on the actual no. of days in the month as this will depend on the exact date of your loan disbursal. This repayment schedule is only a guide and the actual repayment schedule will vary and be provided to you at the time of loan disbursal.

Minimum monthly salary of AED 5,000

Minimum monthly salary/income: AED 5,000 for salaried individuals 

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Personal Loan - Calculate Personal Loan

Indicative Personal Loan Calculator

Call Me Back Option - Personal/Business start 5000

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No downpayment applicable

Max loan amount: AED 2,250,000

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AED 5,000-19,999

AED 20,000-49,999

* Minimum of AED 525 and maximum of AED 2,625 (incl. VAT) 
For more details about our Personal Loan fees and charges, please refer to our <a title="Personal Loan Service and Price Guide" href="/globalassets/rakbank/all-pdfs/001---service-and-price-guides/bilingual/018-sp-vat-personalloan1.pdf" target="_blank" rel="noopener">Service and Price Guide</a>.

Fees

Deposit

 Deferral allowed

Personal Loan - Flexible and Low-cost 

Loan Features

Be it a wedding, a holiday, unexpected expenses or switching your loan from another bank, our Personal Loan provides high loan amounts at low interest rates, with flexible repayments of up to 48 months for expatriates.

We make it happen

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Chat with an agent

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

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FAQs

World Credit Card

Open to Resident Expatriates

Benefits

Personal Loan - Benefit from swift approval

Benefit from swift approval of your Personal Loan application. You’ll have your loan issued within 7 days of submitting your request, subject to submitting all required documents as per the product requirements.

Benefit from swift approval

Loan

Recurring Deposit

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Fixed Deposits

Deposits

Minimum 6 months employment at a Bank-approved company

Eligibility requirements: Minimum 6 months or confirmed in current job. Employer listed in Bank Approved List of Companies.

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PL - Apply From RakMobile

Available to salaried employees with a minimum income of AED 5,000

Apply through the RAKBANK App

Standard Mastercard

<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

Air Arabia Platinum

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

Download the RAKBANK App!

Discover the Rakbank App and enjoy digital banking designed to fit your day. Manage your accounts, make secure transactions, and access smart features all in one simple, easy-to-use app

RAKBANK mobile and digital banking features enabling customers to bank anytime, anywhere

Loan Features

We make it happen

Indicative Personal Loan Calculator

How to use this calculator

ELIGIBILITY & FEES

You're closer to your ideal loan than you think

Relevant links

We’re here to help

Bank on the go, anytime, anywhere