In this fast-paced world, Banks are one of the reliable and smoother options that cater to the financial needs of customers. RAK Bank is one of the prominent institutions which can easily manage your finances in the UAE. Moreover, its official name is the National Bank of Ras Al Khaimah, and was founded in 1976. RAK Bank makes itself a reputable bank in the region due to its banking services. Furthermore, the commitment of the Bank to advanced technology and efficient banking solutions enhances your experience. In this detailed blog, we will discuss services, account openings, and the branches of RAK Bank.
Account Type
Account Opening Fee
Monthly Maintenance Fee
Minimum Balance Requirement
Overdraft Charges
Other Charges
Savings Account
AED 0
AED 3,000
AED 100 (per transaction)
Withdrawal beyond limit: AED 10
Current Account
AED 5,000
AED 150 (per transaction)
Checkbook: AED 50 (per book)
Premium Savings Account
AED 10,000
AED 75 (per transaction)
Withdrawal beyond limit: AED 25
Fixed Deposit Account
N/A
Early withdrawal penalty: 1% of amount withdrawn
Business Account
AED 500
AED 50
AED 200 (per transaction)
Monthly statement fee: AED 20
Personal Loan Account
Interest Rate: 3-5% annually
Loan processing fee: AED 500
With RAK Bank you can experience different investment services like auto loans and personal loans. Moreover, the banks also provide you with home loans and credit cards as they offer rewards for everyday spending.
RAK Bank allows its customers to experience business accounts for fund management and investments efficiently. Moreover, in this reputable bank, you can also avail of the option of services like commercial loans and trade finance.
In the UAE, if you choose RAK Bank then you can experience insurance services like life and health Insurance. Furthermore, the bank also allows customers to experience property insurance services in this vibrant country.
Must Read : Everything You Need to Know About Mashreq Bank With Great Dubai
City
Branch
Contact No
Operating Hours
Dubai
RAK Bank - Bur Dubai
+971 4 393 2000
Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed
RAK Bank - Deira
+971 4 222 7480
Abu Dhabi
RAK Bank - Al Muroor
+971 2 443 1877
RAK Bank - Al Ain
+971 3 722 8855
Sharjah
RAK Bank - Al Gulaya
+971 6 574 4343
Ajman
RAK Bank - Ajman
+971 6 746 6060
Ras Al Khaimah
RAK Bank - Ras Al Khaimah
+971 7 233 2266
Umm Al Quwain
RAK Bank - Umm Al Quwain
+971 6 766 6733
RAK Bank offers a range of services to you with the help of a well-managed network of branches in the UAE. Moreover, these branches at different locations allow you to open accounts, safe investments, and other banking needs.
Method
Process
Advantages
Considerations
Fee
Online Application
Fill form, upload docs, submit
Convenient, fast
Requires document upload
Branch Visit
Complete form, submit docs in person
Personal assistance
Requires visiting the branch
Phone Banking
Call, provide details, email/post docs
Direct assistance
Extra steps for document submission
Mobile Banking App
Fill form, upload docs via app
Convenient, mobile access
Secure device needed
If you are willing to create an account with RAK Bank in the UAE, you can use different methods. Furthermore, methods like online and branch visits are reliable and offer you peace of mind.
Select the Account Type: The customers have to choose the type of account that they want to open. Moreover, the most common and preferred options are savings and current accounts.
Prepare the Documents: It is vital to ready all required documents like Emirates ID, Passport, and Proof of residence.
Visit a website or Branch: For account opening, you have to find the nearest RAK Bank branch to start the process. Moreover, for this purpose, you can also visit the official RAK Bank website.
Meet a Representative in Branch: If you are using the branch visit method then you have to speak with the representative to create an account.
Complete Application Form: The next step is to fill out the form carefully by providing your personal and contact details.
Submit Documents: Now you have to provide or upload all required documents.
Verification: The bank starts a verification process of your documents and processes your application.
Account Activation: At last, when your application is approved remember to receive your account details.
Must Read : Everything You Need to Know About Wio Bank With Great Dubai
The habit of regularly reviewing your account allows you to manage your finances effectively. So, if you are aiming to get benefits from RAK Bank then remember to review your account.
It is vital to get advice from the professionals of a bank as it is helpful to grow and manage your wealth.
Always prefer to use the Mobile app and online banking of RAK Bank as it is a reliable way.
RAK Bank is owned by the Government of Ras Al Khaimah. Moreover, the government also holds a majority stake in the bank.
In the UAE, visiting any RAK Bank is one of the reliable ways to create an account.
If you create an account with RAK Bank it allows you to manage budgets and investments for your future
Yes, If you are willing to create an account with RAK Bank then you can avail the option of their official website. Moreover, for account creation purposes, you have to fill out an application form and upload all required documents.
16 Sep 2024
14 Sep 2024
13 Sep 2024
12 Sep 2024
399 AED
690 AED
*
What's your reason for leaving?