Main Features:   

Cashback:

• 5% Cashback on Supermarkets & Dining spends worldwide
• Up to 50% Cashback on Cinemas

 

Min Monthly Spend (AED)	Monthly Cashback	Monthly Cashback on Cinemas
AED 5000	5%	50%
Maximum Monthly Cashback Cap	AED 150	AED 70

 

If cashback exceed the monthly maximum cap, then Standard Cashback rate will be applied on excess spend amount.

 

Standard Cashback:

Monthly Spend- Domestic & International (AED)	Monthly Standard Cashback
1- 14,999	1%
15,000 & Above	2%
Maximum monthly cashback cap	AED 1500**

 

*Effective April 14th 2020, all spends under the category of Government Services and Utility Payments will earn 0.25% Cashback for every AED 1 spent.

** This includes the Cashback earned on supermarket, dining and cinema spends.

 

Financial Features:

Annual Fees: Free for Life

Minimum Salary Requirement: AED 8,000

Retail Interest Rate:  3.45% will be charged on the outstanding amount on monthly basis after 55 days interest free period

Foreign Currency Transactions Rate:

• 1.5% per month; Applicable on oversees transactions only
• Monthly one free remittance to India, Nepal, Philippines, Sri Lanka or Pakistan through credit card via RAKMoney Transfer

 

Balance Transfer Fees: Yes, Available

Repayment Period: 25 Days from statement date

Purchase Protection: Free purchase protection

Other Financial Features:

• 0% Easy payment plans facility
• RAKMoney Transfer facility

 

Travel Benefits:

Airport Lounge Access: Unlimited complimentary access to over 10 VIP lounges in Dubai, Abu Dhabi, Cairo, Kuwait, and Jordan airports.

Travel Insurance: Free travel accident insurance

Meet & Greet Service: No

 

Leisure and Entertainment benefits:

Movie Tickets: No

Dining Privileges: With RAKfoodie you can enjoy up to 30% Discount at over 2,000 restaurants using your RAKBANK Cards

Golf Benefits: No

Other Benefits:

• 20% discount on three monthly Careem rides