Benefits
- A free debit card that can be used at all RAKBank ATMs and UAE SWITCH ATMs.
- A free cheque book of 25 leaves for individual accounts.
- The account can be opened in multiple currencies including AED, US Dollars, Pound Sterling, and Euro.
- Monthly and quarterly statements on demand.
- Makes you eligible to apply for RAKBANK credit cards, loans, overdrafts, and cash secured facilities.
Fees & Charges
- Account Closure (Within one year)= AED 100
- Non-RAKBank ATM Transactions in UAE- Cash Withdrawal = AED 2
- Non- RAKBank Transactions in UAE – Balance Inquiry / Declined Transaction= AED 1
- Fee for using the ATM outside UAE and GCC = AED 20
Interest Rates
- Not Applicable
Documents Required
- Duly filled and signed current account application form.
- Copy of passport and resident visa.
- Salary transfer letter in case of opening the account for salary transfer purpose.
Eligibility
- Individuals above 21 years of age.
- Must be a resident of UAE.
- Minimum balance requirement of AED 3000
Addition Information
- Can also be opened in other currencies on special request.
- Non-individual account holders can avail of a personalized cheque book at a nominal fee of AED 25
- Account statements can be issued on a monthly or quarterly basis as per customers’ requirement
- A ledger fee of AED 25 per month will be charged if the monthly balance falls below the minimum average of AED 3,000