RAKBANK Personal Account

Minimum Salary
0,00 د.إ

Description

RAKBANK’s retail offering centers on two core Shari’ah-compliant personal accounts—Current Account and Standard Savings Account—plus the Advantage Account digital package. Each carries distinct minimum-balance requirements, fee waiver criteria, profit rates, and digital benefits. Selecting the right product depends on your transaction needs, salary credits, and savings goals.

Features

Account Packages & Eligibility

Feature / Package	Current Account	Standard Savings	Advantage Account
Contract	Qard Hasan	Mudarabah	Qard Hasan
Minimum Balance	AED 3,000	AED 3,000 after 3 months¹	None
Salary Transfer Waiver	AED 5,000/mo or any RAK product	AED 5,000/mo or any RAK product	N/A
Monthly Fall-Below Fee	AED 26.25 if balance < AED 3,000	AED 26.25 if balance < AED 3,000	None
Profit Rate (p.a.)	N/A	AED 0.25%; USD 0.25%; GBP 0.25%; EUR 0%; CHF 0%; JPY –0.60%	N/A
Profit Payment	N/A	Semi-annual (June & December)	N/A
Account Type	Transactional	Savings	Digital transactional
Eligibility	≥ 18 yrs; UAE nationals & residents	≥ 18 yrs; UAE nationals & residents	≥ 18 yrs; UAE nationals & residents
Documents Required	Emirates ID; passport & visa (copy); proof of income for salary waivers	Same as Current Account	Emirates ID; passport/visa; selfie eKYC via app

¹ First 3 months no minimum balance requirement.

Account Benefits

Current Account

Free RAKBANK ATM withdrawals & deposits
Free debit card & first cheque book; AED 1 per leaf thereafter
Unlimited e-statements & bill payments
Salary credit & standing instructions

Standard Savings Account

Competitive flat 0.25% p.a. on AED & USD balances
No minimum balance for first 3 months
Free digital transfers & bill payments
Semi-annual profit payouts

Advantage Account

Fully digital onboarding & management via RAKBANK App
Zero minimum balance & fall-below fees
Access to RAKMoneyTransfer at preferential rates
Instant virtual debit card issuance

Detailed Schedule of Fees & Charges

All fees inclusive of 5% VAT where applicable.

Service Category	Service	Charge
Account Maintenance	Fall-below (Current & Savings)	AED 26.25/month
	Digital Account (Advantage)	Free
Teller & Cheque Services	Branch cash/cheque withdrawal & deposit	AED 52.50 per transaction
	Cheque book issuance (10-leaf)	First free; AED 1 per leaf thereafter
	Stop payment	AED 105 per cheque
	Returned cheque	AED 241.50 per cheque
ATM & Card Services	RAKBANK ATM (withdrawal, deposit, inquiry)	Free
	Non-RAKBANK UAE ATM withdrawal	AED 2 per transaction
	GCC ATM withdrawal	AED 6 per transaction
	International ATM withdrawal	Host charges + minimum AED 20
	Debit card issuance & renewal	Free
	Debit card replacement	AED 26.25
Funds Transfers & Remittances	RAKBANK-RAKBANK transfers	Free
	UAEFTS digital transfers	Free
	UAEFTS branch transfers	AED 1
	International remittance (digital)	AED 30 per transfer
	International remittance (branch)	AED 50 per transfer + correspondent fees
Statements & Letters	Duplicate statement (per cycle)	AED 25
	Statement outside cycle (per request)	AED 25 per month
	Balance/No-liability certificate	AED 50 per request
Account Closure	Closure within 6 months	AED 100

Documents Required

N/A

Additional Info

Current Account: Best for everyday transactions with cheque facility and salary credit.
Standard Savings: Ideal for moderate savers seeking stable semi-annual returns.
Advantage Account: Suited to digital-first users needing zero-fee, app-only banking.

Align your salary credits, balance patterns, and usage preferences with these packages to maximize fee waivers, earn profit, and enjoy digital conveniences.