Benefits
- No initial deposit or minimum balance is required to open the RAKMore account.
- A free debit card with international access at all MasterCard ATMs.
- A free cheque book every month.
- Free unlimited domestic remittances and one international remittance per month through internet banking.
- Based on the customer’s salary different accounts will be allotted. Normal, RAKElite, and RAKSelect are three salary transfer accounts.
- Up to 3 free non-RAKBank ATM cash withdrawals per month.
Fees & Charges
- Account Closure (Within one year)- Normal and RAKSelect =AED 100; RAKElite = NIL
- 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.
- Standard account opening documents such as identity proof, address proof, signature proof, etc.
- Proof of salary (any one of the below)
- Offer letter
- Salary slip or certificate
- Salary transfer letter
- Copy of labour contract or MOL
Eligibility
- Individuals above 21 years of age.
- Resident in the UAE
- Minimum salary of the applicant – AED5K
Addition Information
- Normal account salary range – AED 5K to AED 20K; RAKSelect account – AED 20K to AED 50K; RAKElite account – AED 50K and above
- RAKElite account holders can avail RAKBank’s World Credit Card which is free for lifetime.
- Free non-RAKBank ATM withdrawals – Normal account customers – 01, RAKSelect – 02, and RAKElite – 03.
- To open the RAKMore account applicants need to visit RAKBank’s branch in person.
- Existing current account holders of the bank can convert their account into salary transfer account by submitting income proof