Minimum Balance Required Annual Return Features
RAKBANK - RAKvantage Savings Account RAKBANK - RAKvantage Savings Account Minimum Balance Required: AED 3,000 Annual Return: 1.5% Features: Phone Banking, Multiple Currencies, Free Cheque Book
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An account with high interest. Simple.

RAKvantage combines the benefits of a banking account with the advantage of high interest rates. Simply put, the higher your balance, the higher the interest. RAKvantage is an AED/USD Personal Banking account for UAE residents and non resident GCC Nationals in the UAE.

Interest Rates in AED

Balance Amount and it's respective Interest Rate (Per Year):
  • 0 - 9,999 NIL
  • 10,000 - 49,999 0.25%
  • 50,000 - 99,999 0.50%
  • 100,000 - 249,999 0.75%
  • 250,000 - 499,999 1.00%
  • 500,000 - 999,999 1.00%
  • 1 Mio up to 5 Mio 1.25%
  • 5 Mio up to 10 Mio 1.50%
  • 10 Mio up to 25 Mio 1.50%
  • 25 Mio and above 1.00%
Interest Rates in USD

Balance Amount and it's respective Interest Rate (Per Year):
  • 0 - 9,999 NIL
  • 10,000 - 49,999 NIL
  • 50,000 - 99,999 NIL
  • 100,000 - 249,999 NIL
  • 250,000 - 499,999 0.25%
  • 500,000 - 999,999 0.50%
  • 1 Mio and above 0.75%
If interest payable is less than AED 10 or USD 10, then no interest will be credited.

RAK Bank RAKvantage Features:
  • Unlimited FREE cheque books and drawings.
  • Instant account access for bill payments and account transfers through RAKdirect our 24-hour telephone banking service.
  • Minimum Balance - AED 3000
  • Monthly charges for non-maintenance of balance AED 25
  • Currency Types - AED, USD, Euro and GBP
Documents Required:
  • Duly filled and signed Application form.
  • Copy of valid passport and valid residence visa (Minimum 2 months validity required for UAE Resident Visas), if applicable.
  • Salary Transfer Letter, if applicable (If your monthly salary is between AED 3,000 to AED 5,000/).
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