RAKBANK Salary Account in UAE

For salaried employees in the UAE, it has designed a specific option, i.e. the RAKBANK salary account. It features exceptional banking benefits and exclusive offers. To know more about this RAKBANK account, keep on reading! 

RAKBANK Salary Account Benefits and Features 

When you open a salary account with RAKBANK, here’s what you can get — 

RAKBANK Current Account

• Low minimum balance requirement 
• Free chequebook and a debit card (AED account only)
• Available in multiple currencies 
• Free account statement 
• Easy to transfer money with RAKmoney transfer 
• Free online and phone banking services 
• Worldwide accessible debit card 

RAKmore Account

• No requirement for minimum balance
• Free chequebook every month
• Get a free debit card with 24/7 international access through all MasterCard ATM.
• Lifetime free credit card (as per your eligibility)
• Free unlimited domestic remittances + 1 swift international remittance/month through digital banking
• Get up to 3 free cash withdrawals from non-RAKBANK ATMs every month

Note that the number of free non-RAKBANK cash withdrawals is based on the salary account type — 

• 3 withdrawals for RAKBANK Elite
• 2 withdrawals for RAKBANK Select
• 1 for Normal Accounts

RAKBANK Salary Account Opening Requirements and Eligibility

You need to fulfil the following requirements and eligibility criteria to open a RAKBANK bank account — 

RAKBANK Current Account

Criteria	Requirements
Minimum Monthly Salary	AED 3,000 (for salaried employees)
Age	At least 21 years
Nationality	UAE resident

RAKmore Account

Criteria	Requirements
Minimum Salary	AED 5,000 per month
Minimum Age	21 years

Documents to Open RAKBANK Salary Account

Given below is the list of documents required while opening a RAKBANK salary transfer account —

• Standard account opening documents — identity proof, address proof, passport, and more 
• Salary proof documents including salary certificate, labour contract / MOL printout, payslip, salary transfer letter, offer letter, and more

Note: All the documents must be valid while opening an account with the RAKBANK. 

RAKBANK Salary Account Fees and Charges

Here are the key fees and charges associated with the current RAKBANK bank account — 

Fees Type	Charges
Minimum Average Monthly Balance	AED 3,000
Monthly Charges for Not Maintaining a Minimum Balance	AED 26.25
Account Closing Fees (within 6 months)	AED 105
Liability and No-liability Certificate	AED 63
Account Balance Certificate	AED 52.5
Card Replacement Fee	AED 26.25
Cash Withdrawal	Nil from RAKBANK ATM AED 2.1 from UAE Switch ATMs AED 6.3 from GCC Switch ATMs AED 21 from MasterCards ATMs
Balance Enquiry	Nil from RAKBANK ATM AED 1.05 from UAE Switch ATMs AED 3.15 from GCC Switch and MasterCards ATMs
Declined Transaction Charges	AED 1.05
E-statement Fees	NA

How to Open a RAKBANK Salary Account in UAE?

With Policybazaar.ae, the process of RAKBANK salary account opening online can be easily done in a few minutes! 

• On Policybazaar.ae, head to ‘Banking Products’ 
• Select ‘Open Bank Account’ 
• Fill out the form on the screen and follow further instructions
• Explore the top quotes and select the relevant RAKBANK account 
• After receiving your application, one of our customer service representatives will call you and assist you further. 

Frequently Asked Questions