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Achieve your financial goals with Rakbank Personal Loans. Enjoy competitive rates, flexible terms, and a quick application process.

Personal Loans With Low Rates & Flexible Terms | Rakbank UAE

Personal Loan

Personal Loans With Low Rates & Flexible Terms | RAKBANK UAE

Rakbank personal loan customer enjoying financial flexibility in the UAE

Plan for the memories that last

No valuation fees

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Application Form

AECB Enquiry Form

Customer Consent Form

Key Fact Statement

Service and Price Guide

Terms and Conditions

Personal Loan - Relevant links

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What Card is right for me

How can I request a No Liability Certificate?

Personal Loan - Competitive interest rates

Interest rates range from 4.75% to 19.99%, reducing rate p.a. Use our loan calculator to see what your monthly instalment could look like. 
*Rates are subject to change based on market conditions.

Competitive interest rates

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Personal Loan - Eligibility

Eligibility

Salary transfer to Rakbank is required

Salary transfer to RAKBANK is required

Flexi Fixed Deposit

Scan the QR code to download the app from the Apple App Store

Download the RAKBANK Mobile app!

Discover the Rakbank App and enjoy cutting-edge Digital Banking services at your fingertips. Seamlessly manage your accounts, conduct secure transactions, and enjoy a range of innovative features – all in one user-friendly platform.

Scan the QR code to download the app from the Google Play Store

Standard Current Account - RakMobile

Bank on the go anytime, anywhere

Warnings
<ul>
<li>If you pay off the Loan prior to the due date, you will be subject to prepayment charges as per the described rates in the Service and Price Guide. </li>
<li>If you are late in payment or fail to make a payment on the due date, you will pay default interest at the rates described in the Service and Price Guide.</li>
<li>If you fail to make a payment or otherwise breach the Loan terms, this will be a default and the Bank will be entitled, among other things, to:</li>
</ul>
(a) Cancel the Loan and demand full repayment immediately;
(b) Report the default to the appropriate regulatory authorities and credit rating agencies, which will affect your credit rating;
(c) Bring legal proceedings against you.

Personal Loan - Terms And Conditions

Terms & Conditions

To apply, you&rsquo;ll need to meet the following criteria:
Age:
<ul>
<li>21 years or older</li>
</ul>
Residency:
<ul>
<li>Salaried expatriate residing in the UAE</li>
</ul>
&nbsp;Additional requirements:
<ul>
<li style="font-weight: 400;" aria-level="1">Salary transfer to Rakbank and end-of-service benefits to remain with Rakbank until the loan is fully repaid</li>
<li style="font-weight: 400;" aria-level="1">A minimum AECB score of 541</li>
<li style="font-weight: 400;" aria-level="1">Employment with a Rakbank-approved employer</li>
<li>Minimum monthly salary: AED 5,000</li>
</ul>

Personal Loan - Salaried individuals

ELIGIBILITY & FEES

You're closer to your plans than you think

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Select Titanium Mastercard

Debit Cards

Personal Loan - We’re here to help

RAKBANK Branches And ATM Machines Near Me In UAE |RAKBANK UAE

Branches & ATMs

Segment - Personal

Standard interest rates starting from 4.75% p.a. 

Standard Interest Rates starting from: 4.75% p.a. 

Personal Loan - With Salary Transfer

With Salary Transfer

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Personal Loan - Move loan

Already have a Personal Loan with another bank in the UAE? Switching to Rakbank is quick and straightforward, making it easier to manage your loan.

Move your loan from another bank

Personal Loan - Fees

How much can I borrow with a Personal Loan?

In Page Floating Menu

How can I access my loan repayment schedule?

AED 50,000-above

Max tenor: 48 Months for non MOD customers, 60 Months for MOD customers

Call Deposit

Personal Loan - Top up your existing loan

After one year of regular repayments on your Personal Loan, you can apply to top up your loan back to the original amount, giving you added flexibility when you need it.

Top up your existing loan

Can I make a partial early repayment towards my Personal Loan?

Elite Platinum Mastercard

Personal Loan - Processing Fees

Rakvalue Credit Card

Conventional Personal Loan

Note, instalment amount comprises of repayment towards principal and interest. Please note the interest calculation is not based on the actual no. of days in the month as this will depend on the exact date of your loan disbursal. This repayment schedule is only a guide and the actual repayment schedule will vary and be provided to you at the time of loan disbursal.

Minimum monthly salary of AED 5,000

Minimum monthly salary/income: AED 5,000 for salaried individuals 

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Personal Loan - Calculate Personal Loan

Calculator

Indicative Personal Loan Calculator

Call Me Back Option - Personal/Business start 5000

Submit your details and we’ll be in touch soon

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No downpayment applicable

Max loan amount: AED 2,250,000

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Personal Loan - Help Card

What are the eligibility criteria and requirements for a Rakbank Personal Loan for expat residents?

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AED 5,000-19,999

How can I request a Liability Certificate?

AED 20,000-49,999

I already have a loan. Can I apply for additional financing?

Can I settle my Personal Loan before the end of the loan term?

*Minimum of AED 525 and maximum of AED 2,625 (incl. VAT) 
For more details about our Personal Loan fees and charges, please refer to our <a title="Personal Loan Service and Price Guide" href="/globalassets/rakbank/all-pdfs/001---service-and-price-guides/bilingual/018-sp-vat-personalloan1.pdf" target="_blank" rel="noopener">Service and Price Guide</a>.

Fees

When will my loan be credited after approval?

Deposit

Do I need to transfer my salary to Rakbank to obtain a Personal Loan?

 Deferral allowed

How can I request to postpone a loan installment?

Personal Loan - Flexible and Low-cost 

Whether it&rsquo;s a wedding, a holiday, unexpected expenses, or switching your loan from another bank, our Personal Loan is designed to support your plans. Enjoy higher loan amounts, competitive interest rates, and flexible repayment options of up to 48 months for expatriates.

We make it happen

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How can I apply for a Rakbank Personal Loan?

I'm experiencing difficulty making loan repayments. What support is available?

Chat with an agent

Find answers to our most commonly asked questions, all in one place.

FAQ’s Help Card

FAQs

Open to Resident Expatriates

Benefits

Personal Loan - Benefit from swift approval

Enjoy a faster approval process for your Personal Loan. Once you submit all required documents in line with product requirements, your loan can be issued within 7 days.

Benefit from swift approval

Loan

Recurring Deposit

Personal Loan - Global Tabbed Box

Fixed Deposits

Deposits

Minimum 6 months employment at a Bank-approved company

Eligibility requirements: Minimum 6 months or confirmed in current job. Employer listed in Bank Approved List of Companies.

What repayment terms are available for a Personal Loan?

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PL - Apply From RakMobile

Available to salaried employees with a minimum income of AED 5,000

Apply through the RAKBANK App

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Standard Mastercard

<ol>
<li>Your Emirates ID</li>
<li>Your Passport with valid residency visa</li>
<li>Any of the following proof of income</li>
</ol>
<ul>
<li>Salary Certificate</li>
<li>Bank Statements</li>
<li>Payslips</li>
<li>Labour Contract</li>
</ul>

Visit A Branch

A specialist will be able to assist you with the process

Visit a branch

Scan the QR code to download the RAKBANK app from the Apple App Store

Download the RAKBANK App!

Discover the Rakbank app and enjoy digital banking designed to fit your day. Manage your accounts, make secure transactions, and access smart features all in one simple, easy-to-use app

Download the Rakbank App!

RAKBANK mobile and digital banking features enabling customers to bank anytime, anywhere

We make it happen

Calculator

Indicative Personal Loan Calculator

How to use this calculator

ELIGIBILITY & FEES

You're closer to your plans than you think

Relevant links

We’re here to help

Bank on the go, anytime, anywhere