National Bank of Ras Al-Khaimah PJSC (RAKBANK)

Ras Al Khaimah

Bank Logo

RAKBANK: An Overview

The National Bank of Ras Al-Khaimah PJSC, widely known as RAKBANK, is a public joint-stock company headquartered in the Emirate of Ras Al Khaimah, United Arab Emirates (UAE). It is one of the UAE's oldest and most dynamic financial institutions, having been founded in 1976. RAKBANK possesses a strong presence in the UAE's banking sector, offering a wide range of personal and business banking services, and is a key player in the global capital markets.

Services and Operations

RAKBANK provides comprehensive banking services, from personal accounts to business solutions, wholesale banking, and Islamic banking. The bank also features a robust electronic banking system, including online, mobile, telephone, and SMS banking services, to cater to the diverse demands of its clients and ensure accessibility and convenience. Its corporate office is located on Sheikh Mohammed Bin Zayed Road in Ras Al Khaimah, UAE.

Global Presence

While RAKBANK is prominently established within the UAE, its influence extends to the global capital markets. Its credit ratings, research, and analysis are featured on Fitch Ratings, a globally recognized credit rating and research agency. RAKBANK is also involved in the provision of retail and commercial banking, and treasury services on a global scale.

Leadership and Workforce

Under the leadership of CEO Peter England, RAKBANK continues to evolve its banking and financial services. The bank employs a workforce of over 3,400 individuals, each contributing to the bank's vision of becoming the best banking partner in Dubai and the UAE.

Branches

RAKBANK Branch - Al Nakheel

opposite to The Al Ansari Exchange - Al Nakheel - Ras Al Khaimah

Rak Bank The National Bank of Ras Al Khaimah (P.S.C)

9G5F+VHF - Musaffah - Musaffah Industrial - Abu Dhabi

RAKBANK Branch - Al Hamra

Zamil Steel Industries RAK - Branch - Al Jazeera Al Hamra Industrial - Ras Al Khaimah

RAKBANK Branch - Al Dhait

Sheikh Mohammed Bin Salem Road Al Dhait , Located near to Royal Furniture Showroom - Ras Al Khaimah

RAKBANK Branch - Shaam

Shaam Branch, located next to the Shaam hospital Shaam Road - Ras Al Khaimah

RAKBANK Elite Centre - Dubai Marina

Marina Plaza - 2402 24th Floor - next to Marina Mall - Dubai Marina - Dubai

RAKBANK Collections Department

Nehal Residence Building - Al Qusais - Al Qusais 2 - Dubai

RAKBANK Branch - Deira Maktoum

33 4B St - Deira - Riggat Al Buteen - Dubai

RAKBANK Branch - Fujairah

Fujairah Branch, located at the Al Jabr Tower - next to Lari Exchange Fujairah City - Fujairah

RAKBANK Branch - Rolla Sharjah

993M+WG8 - Mohammed Mubarak Saeed Al Mansouri Building, Al Marieja Area, Rolla, Sharjah - Sharjah

RAKBANK Quick - Motor City Branch

Motor City - Green Community Motor City - Dubai

RAKBANK Branch - Al Mannei

X43X+626 Al, Post Office - Sharjah-Kalba Rd - next to The Emirates - Al Muniai - Ras Al Khaimah

Personal

Credit Cards

National Bank of Ras Al-Khaimah PJSC (RAKBANK) Logo
APR: 43.80%
Annual Fee: AED997.50
Interest-Free Period: -55 days
Cash Advance Fee: 3.15% (min 105.00 AED)

Benefits:

Unlimited complimentary airport lounge access, cashback on all spends, travel benefits, lifestyle privileges, and savings.

National Bank of Ras Al-Khaimah PJSC (RAKBANK) Logo
APR: 43.80%
Annual Fee: AED0.00
Interest-Free Period: -55 days
Cash Advance Fee: 3.15% (min 100.00 AED)

Benefits:

Cashback up to 1.5%, free for life credit card, complimentary airport lounge access, free international remittances, lifestyle privileges.

National Bank of Ras Al-Khaimah PJSC (RAKBANK) Logo
APR: 43.80%
Annual Fee: AED420.00
Interest-Free Period: -55 days
Cash Advance Fee: 3.15% (min 105.00 AED)

Benefits:

Earn AirRewards points, complimentary airport lounge access, travel insurance, lifestyle privileges, 0% easy payment plan, and travel benefits.

National Bank of Ras Al-Khaimah PJSC (RAKBANK) Logo
APR: 43.80%
Annual Fee: AED0.00
Interest-Free Period: -55 days
Cash Advance Fee: 3.15% (min 105.00 AED)

Benefits:

Cashback on supermarket (5%), dining (5%), cinema (50%), video streaming (50%), free airport lounge access, travel insurance, lifestyle privileges.

Mortgages

National Bank of Ras Al-Khaimah PJSC (RAKBANK) Logo
Interest Rate: 4.50%
APR: N/A
Max Loan Amount: AED 13,000,000.00
Loan Tenure: 300 months
Loan-to-Value (LTV): 85.00%
Processing Fee: 1.05% of loan amount.

Features:

Applicable for single or joint property ownership.

National Bank of Ras Al-Khaimah PJSC (RAKBANK) Logo
Interest Rate: 4.99%
APR: N/A
Max Loan Amount: AED 13,000,000.00
Loan Tenure: 300 months
Loan-to-Value (LTV): 85.00%
Processing Fee: 1.05% of loan amount.

Features:

Linked account balances offset interest payments, potentially reducing loan costs significantly.

Car Loans

National Bank of Ras Al-Khaimah PJSC (RAKBANK) Logo
Interest Rate: 2.85% reducing
Maximum Loan Amount:
Loan Tenure: 60 months
Loan-to-Value (LTV): 80.00%

Features:

Flexible repayment up to 60 months; Available for new and used vehicles; Quick approval process

Business

Business Current Accounts

National Bank of Ras Al-Khaimah PJSC (RAKBANK) Logo
Min. Avg. Balance: AED 500,000.00
Monthly Fee: AED 262.50

Other Banks: