How to Get a Personal Loan from RAKBANK

Do you have a hefty upcoming expenditure? Are you seeking options to borrow money? Then, you should consider applying for a personal loan in the UAE. A personal loan allows you to take care of your financial needs while repaying the same in affordable instalments. If you are weighing your options, RAKBANK offers some of the best offers on personal loan in the UAE.

Applying for a personal loan in RAKBANK

You can apply for a personal loan in RAKBANK via an offline or online platform

Applying for a personal loan in RAKBANK offline:

Find the nearest RAKBANK branch on the RAKBANK webpage
Visit the bank branch
Submit the duly filled personal loan form
Submit required documents

The bank will approve your loan and transfer the amount in a few working days

Applying for a personal loan in RAKBANK online:

Visit RAKBANK personal loan webpage
Locate the e-form on the right side of the page
Type in personal details such as name, address, email ID, contact number, and salary
Click on “Apply now”

RAKBANK executive will call you within 1 working day to complete your application

Applying online for a personal loan in RAKBANK via policybazaar.ae

You can receive a Personal loan in RAKBANK through an online platform via policybazaar.ae following these simple steps:

Fill in the preliminary e-form and click on “Submit”
Find RAKBANK in the personal loan quotations
Click on “Apply”

The experts at policybazaar.ae will contact you to guide you through the process and receive a personal loan easily.

Benefits

Flexible Repayment
Top up on your existing loan
Transfer your personal loan from another bank to RAKBANK
Quick Approvals
Lower interest rates
Complimentary debit card
Complimentary cheque book
Free credit card with zero annual fee
24/7 services on RAKBANK mobile app
Easy documentation
Insurance offered by RAK insurance

Finance Structure for RAKBANK Personal Loan

	UAE Nationals	Expatriates
Maximum tenure	48 months*	48 months
First EMI payment	Up to 120 days	Up to 75 days
Rate of Interest	3.99% per annum	4.49% per annum
Arrangement Fee	1% of loan amount**	1% of loan amount
Liability Certificate	AED 100	AED 100
Early settlement of a loan	1% of the outstanding value or AED 10,000 whichever is lower
Part settlement charges	Part settlement charges 1% of the amount paid or AED 10,000 whichever is lower
Late payment of instalment 1st Instalment 2nd instalment Subsequent instalment	AED 200 AED 200 AED 200
Loan re-scheduling fee	AED 250
Loan cancellation fee	AED 100