Imagine managing all your banking needs from the comfort of your home with just a few clicks on your smartphone. RAKBANK makes this possible, providing a seamless digital banking experience tailored for convenience. This guide will walk you through everything you need about RAKBANK account opening, including the types of accounts available, the benefits, and the step-by-step process.
About RAKBANK
RAKBANK started in 1976 and is one of the most active banks in the UAE. With over 45 years of experience, it provides new financial solutions for big companies, small businesses, and regular customers. The bank has 27 branches and digital kiosks, making it easy for customers all over the UAE to reach them. RAKBANK offers many personal and business bank accounts. It also provides investment banking, deposit plans, loans, and credit services.
For businesses, RAKBANK has various bank accounts that help manage finances well. The RAKBANK savings and current account offers easy access to funds with benefits like low minimum balance requirements and acceptance of multiple currencies.
Types of RAKBANK Accounts:
We are going to talk about four accounts in particular:
Top Benefits of Opening RAKBANK Account:
1. RAKBANK Savings Account:
You can avail of these benefits if you open a savings account with the RAKBANK:
- Competitive Interest Rates: Earn 0.25% interest per year.
- No Minimum Balance Requirement: Enjoy no minimum balance for the first 3 months.
- Multiple Currency Options: Choose from AED, USD, EUR, GBP, and more.
- Convenient Money Transfers: Use RAKMoneyTransfer for easy transactions.
- Next-Gen Digital Banking: Manage your account through the RAKBANK App.
- Quick Account Setup: Open your account in minutes.
2. RAKBANK Current Account:
You can avail of these benefits if you open a current account with the RAKBANK:
- Quick Account Setup: Open your account in minutes.
- Instant Virtual Debit Card: Available immediately upon signing up.
- Manage Your Money Easily: Pay bills with ease.
- Convenient Money Transfers: Use RAKMoneyTransfer for transactions.
- Different Currency Options: Choose from USD, EUR, GBP, and more.
- Free Debit Card: Available for AED accounts.
- Joint Account Option: Available for two people.
3. RAKbooster Account:
You can avail of these benefits if you open a RAKbooster account with the RAKBANK:
- Free Monthly Statements: Receive your account statements monthly at no extra cost.
- Ultimate Flexibility: Enjoy easy access to your savings whenever you need it.
- Bonus Interest Rates: Earn higher interest rates with higher account balances.
4. RAKBANK Gold Account:
You can avail of these benefits if you open a gold account with the RAKBANK:
- Buy Gold Digitally: Purchase gold online anytime, anywhere.
- Save in Grams: Start saving from just 1 gram of gold.
- Regular Savings: Set up automatic savings regularly.
RAKBANK Account Opening Requirements:
To open a RAKBANK account, you need to meet the following requirements:
- Age: You must be 21 years and above
- Residency: UAE residents can open an account.
- Documents: Valid Emirates ID (for residents), passport, and visa (for non-residents).
RAKBANK Account Opening Minimum Salary:
The minimum salary for RAKBANK account opening is AED 3,000. It’s best to check their official website for detailed requirements.
RAKBANK Account Opening Online:
Here’s how you can open a RAKBANK account online:
RAKBANK account application process
- Visit the official website of RAKBANK.
- Click on “Personal”, then “Everyday banking.”
- Click on the account you want to open.
- On the account page, click “Apply Now”.
- You can either apply through the RAKBANK app or request a callback.
- To request a callback, click on it.
- You can provide your complete name, email address and phone number.
- Click “Submit”.
- The respective authorities will contact you once they receive your interest.
Final Takeaway:
So that was all about the RAKBANK account opening. The process is simple and offers many benefits, like easy account management, free money transfers, and attractive interest rates. Following the steps in this guide, you can quickly open an account that suits your financial needs.
For more information, you can visit the RAKBANK website.
Frequently Asked Questions (FAQs):
Q. Can I open an account with no minimum balance at RAKBANK?
Yes, you can. For the first 3 months, you don’t need to keep a minimum amount in your Savings Account. You’ll earn profit daily, paid out at the end of June and December. If your account hits a negative balance, charges will be added daily and applied monthly.
Q. What is the minimum salary to open a RAKBANK account?
You need to have a minimum monthly salary of AED 3,000.
