Everything You Need to Know About RAK Bank With Great Dubai

Everything You Need to Know About RAK Bank With Great Dubai

Everything You Need to Know About RAK Bank 

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.

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Services Offered by RAK Bank

Account Type

Account Opening Fee

Monthly Maintenance Fee

Minimum Balance Requirement

Overdraft Charges

Other Charges

Savings Account

AED 0

AED 0

AED 3,000

AED 100 (per transaction)

Withdrawal beyond limit: AED 10

Current Account

AED 0

AED 0

AED 5,000

AED 150 (per transaction)

Checkbook: AED 50 (per book)

Premium Savings Account

AED 0

AED 0

AED 10,000

AED 75 (per transaction)

Withdrawal beyond limit: AED 25

Fixed Deposit Account

AED 0

AED 0

AED 10,000

N/A

Early withdrawal penalty: 1% of amount withdrawn

Business Account

AED 500

AED 50

AED 10,000

AED 200 (per transaction)

Monthly statement fee: AED 20

Personal Loan Account

AED 0

N/A

N/A

Interest Rate: 3-5% annually

Loan processing fee: AED 500

Personal Banking Services

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.

Corporate Banking Services

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.

Corporate Banking

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.

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Branches of RAK Bank in the UAE

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

Dubai

RAK Bank - Deira

+971 4 222 7480

Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed

Abu Dhabi

RAK Bank - Al Muroor

+971 2 443 1877

Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed

Abu Dhabi

RAK Bank - Al Ain

+971 3 722 8855

Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed

Sharjah

RAK Bank - Al Gulaya

+971 6 574 4343

Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed

Ajman

RAK Bank - Ajman

+971 6 746 6060

Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed

Ras Al Khaimah

RAK Bank - Ras Al Khaimah

+971 7 233 2266

Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed

Umm Al Quwain

RAK Bank - Umm Al Quwain

+971 6 766 6733

Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed

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.

How to Create an Account with RAK Bank

Method

Process

Advantages

Considerations

Fee

Online Application

Fill form, upload docs, submit

Convenient, fast

Requires document upload

AED 0

Branch Visit

Complete form, submit docs in person

Personal assistance

Requires visiting the branch

AED 0

Phone Banking

Call, provide details, email/post docs

Direct assistance

Extra steps for document submission

AED 0

Mobile Banking App

Fill form, upload docs via app

Convenient, mobile access

Secure device needed

AED 0

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.

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Tips for Banking with RAK Bank

Regularly Review Account

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.

Seek Professional Advice

It is vital to get advice from the professionals of a bank as it is helpful to grow and manage your wealth.

Utilize online and mobile Banking

Always prefer to use the Mobile app and online banking of RAK Bank as it is a reliable way.