Minimum Salary
0,00 د.إ
RAKBANK offers both conventional and Sharia-compliant auto financing with fixed flat rates from 2.40%–2.70% p.a., financing up to 80% of the vehicle’s value, tenures up to 60 months, transparent fees, and value-added benefits like digital convenience and free deferment options.
| Product | Rate Type | Flat Rate p.a. | Finance-to-Value | Tenure |
| Conventional Auto Loan | Fixed flat rate | From 2.40% | Up to 80% | 12–60 months |
| Islamic Auto Finance (Murabaha) | Fixed profit rate | From 2.70% | Up to 80% | 12–60 months |
| Green Auto Loan (EV/Hybrid) | Fixed flat rate | From 2.40% | Up to 80% | 12–60 months |
Down payment: minimum 20% of vehicle value.
Schedule of Fees & Charges
| Fee Type | Charge |
| Processing Fee | 1.05% of loan amount – min AED 525, max AED 2,625 (inclusive of VAT) |
| Moratorium Interest (first EMI) | Interest accrues and is amortised over remaining EMIs |
| Early/Partial Settlement | 1.05% of outstanding principal (no cap) |
| Late Payment Fee | Min AED 50 / max AED 210 per missed instalment (inclusive of VAT) |
| Post-dated Cheque Replacement | AED 100 per cheque |
| Instalment Deferment | One free per year; subsequent deferment AED 100 each |
| Cooling-Off Period | 5 business days – full refund of processing fee if cancelled within period |
| Vehicle Pledge Release (post-settlement) | No bank charge (RTA fees apply separately) |
All fees inclusive of VAT unless stated otherwise.
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