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HOME LOAN PRODUCT

Mortgage Home Loan for Salaried UAE Nationals



RAKBANK, also known as the National Bank of Ras Al-Khaimah, is one of the fastest growing and most dynamic banks in the UAE, founded in 1976 They Bank offers a wide range of personal and business banking services throughout its 35 branches and its portfolio of electronic banking solutions, which include Telephone, Online, and Mobile Banking. It also offers Sharia-compliant personal and business banking services via its Islamic Banking unit, RAKBANK AMAL.


• Mortgage loan for residents and non- residents of UAE • Financing for projects by eminent developers in Dubai and Abu Dhabi • Approval of loan within 14 days of application • Up to 25 years of loan tenor and flexible repayment period • Flexible rate of interest to match your profile and specific requirement • You need to put certain amount of down payment for availing the loan.

01
20000
Minimum Salary

02
2.99%
Interest Rate
03
1%
Procesing Fee
04
25%
Down Payment

Mortgage Home Loan for Self Employed UAE Nationals



RAKBANK, also known as the National Bank of Ras Al-Khaimah, is one of the fastest growing and most dynamic banks in the UAE, founded in 1976 They Bank offers a wide range of personal and business banking services throughout its 35 branches and its portfolio of electronic banking solutions, which include Telephone, Online, and Mobile Banking. It also offers Sharia-compliant personal and business banking services via its Islamic Banking unit, RAKBANK AMAL.


• Mortgage loan for residents and non- residents of UAE • Financing for projects by eminent developers in Dubai and Abu Dhabi • Approval of loan within 14 days of application • Up to 25 years of loan tenor and flexible repayment period • Flexible rate of interest to match your profile and specific requirement • You need to put certain amount of down payment for availing the loan.

01
20000
Minimum Salary

02
2.99%
Interest Rate
03
1%
Procesing Fee
04
25%
Down Payment

Mortgage Home Loan for Salaried Expats



RAKBANK, also known as the National Bank of Ras Al-Khaimah, is one of the fastest growing and most dynamic banks in the UAE, founded in 1976 They Bank offers a wide range of personal and business banking services throughout its 35 branches and its portfolio of electronic banking solutions, which include Telephone, Online, and Mobile Banking. It also offers Sharia-compliant personal and business banking services via its Islamic Banking unit, RAKBANK AMAL.


• Mortgage loan for residents and non- residents of UAE • Financing for projects by eminent developers in Dubai and Abu Dhabi • Approval of loan within 14 days of application • Up to 25 years of loan tenor and flexible repayment period • Flexible rate of interest to match your profile and specific requirement • You need to put certain amount of down payment for availing the loan.

01
25000
Minimum Salary

02
2.99%
Interest Rate
03
1%
Procesing Fee
04
25%
Down Payment

Mortgage Home Loan for Self Employed Expat



RAKBANK, also known as the National Bank of Ras Al-Khaimah, is one of the fastest growing and most dynamic banks in the UAE, founded in 1976 They Bank offers a wide range of personal and business banking services throughout its 35 branches and its portfolio of electronic banking solutions, which include Telephone, Online, and Mobile Banking. It also offers Sharia-compliant personal and business banking services via its Islamic Banking unit, RAKBANK AMAL.


• Mortgage loan for residents and non- residents of UAE • Financing for projects by eminent developers in Dubai and Abu Dhabi • Approval of loan within 14 days of application • Up to 25 years of loan tenor and flexible repayment period • Flexible rate of interest to match your profile and specific requirement • You need to put certain amount of down payment for availing the loan.

01
25000
Minimum Salary

02
2.99%
Interest Rate
03
1%
Procesing Fee
04
25%
Down Payment

RAK - Information Center

Eligibility Criteria

• You need to be at least 21 years of age 
• If you are a salaried individual, your maximum age at maturity is 65 years or retirement age (whichever is lower) and 70 years if you are self- employed 
• You need to be a salaried or self- employed individual
• You need to have at least AED 15000 monthly salary
• Your property and mortgage need to be registered with the Land Department

About Home Loan

Buying your own home is one of the most important financial decisions that you will ever make in your life. RAKBANK Mortgage Loans are the most flexible, affordable and easiest way to finance the purchase of property in Abu Dhabi and Dubai.

Interest Rates and Other Fees

• Loan processing fee ranging between 1% to 1.4%
• In Principal Approval Fee of AED 5000 which is non- refundable
• Floating rate of interest 
• UAE nationals required to put 20% and expatriates need to put 25% of the property value as down payments 
• Annual insurance fee at 0.035% of the property value will be charged
• Early settlement fees will be charged as per the UAE Central Bank policy

Documentation

Identification documents Salary certificate addressed to RAKBANK mentioning your designation, length of employment, detailed breakdown of salary/ If self employed, copy of trade license for at least 1 year LOB Statement from your salary account for the previous six months         If Self Employed, Audited financial statements for your income for the last 2 years and Statement of your personal bank account for the last 6 months Copy of Sale Purchase Agreement

Application Process

Check eligibility criteria and accordingly proceed with the application process

Balance Transfer Feature

Sorry no information is available at this point, please visit later.

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