RAKBank Account Opening in Dubai
Open your RAKBank account with expert guidance and seamless processing. Understanding documentation requirements, account types, eligibility criteria, and application procedures is essential for successful banking setup and financial management in Dubai.
What is RAK Bank Account
RAK Bank, officially known as the National Bank of Ras Al Khaimah, is one of the UAE's leading banks, established in 1976. It provides both Islamic and conventional banking services for residents and non-residents. Individuals and businesses can open a variety of accounts, including personal savings, current, salary transfer, and business accounts, making it easier to manage finances in the UAE.
RAK Bank accounts offer full access to digital banking services, enabling customers to manage accounts online or via mobile apps. Account holders can use debit cards, perform international money transfers, access credit and financing solutions, and invest in financial products. The bank also provides salary accounts, corporate solutions, and tailored services to meet specific financial needs.
With a strong network of branches and ATMs across the UAE, RAK Bank ensures convenient access to in-person services. It offers competitive interest rates, flexible minimum balance requirements, and 24/7 customer support. Customers benefit from a combination of traditional banking and modern digital solutions, making account management simple, secure, and efficient.
Advantages of RAKBank Accounts in the UAE
Competitive Interest Rates
Earn solid returns on savings with flexible deposit choices and business rates reaching up to 0.25% yearly.
Low Minimum Balance Requirements
Zero-balance options for startups; personal accounts need only AED 3,000 to maintain fee-free banking.
Multi-Currency Banking Options
Bank in AED, USD, EUR, GBP and more with smooth currency conversion and competitive global transfer rates.
User-Friendly Digital Banking
Manage accounts 24/7 with the mobile app or web banking, offering transfers, bill pay, and instant alerts.
Business-Friendly Features
Access POS systems, contactless payments, trade finance tools, and dedicated managers for business needs.
Transparent Fee Structure
Enjoy clear, upfront pricing with no hidden charges and easy-to-read fee schedules for all services.
Is RAKBank Account Opening in Dubai Costly?
Opening a RAKBank account in Dubai is not costly and offers competitive rates, digital banking, and full financial services. With proper guidance on documents, account type, and eligibility, the process is smooth and cost-effective.
We handle all documentation, application submission, and account activation. Riz & Mona Consultancy provides support for personal and business accounts, guides on minimum balances, assists with salary certificates, and ensures all KYC requirements are met for hassle-free account opening.
RAKBank Account Opening Cost Calculator
Get a comprehensive cost breakdown for opening your RAKBank account in Dubai.
Unique Features of RAKBank
01.Contactless Payment Leadership
Supports Apple, Google, Samsung, Fitbit, and Garmin Pay, enabling secure touch-free payments directly from phones or smartwatches.
02.MobileCash Cardless ATM Withdrawal
Use your phone to withdraw cash at 170+ ATMs and send MobileCash codes to others for fast, secure cardless cash collection.
03.Digital Account Opening in Minutes
Open accounts in under three minutes via the app using Emirates ID and passport scans, with instant approval and activation.
04.SocialPay Peer-to-Peer Transfers
Send and receive money instantly through social apps with one tap, offering fast and convenient payments for younger users.
05.AI-Powered Document Management
AI retrieves decades of customer documents in minutes and reduces compliance reviews from 80 minutes to around 20 minutes.
06.98% Digital Transaction Volume
Almost all banking transactions occur digitally, powered by a top-tier mobile app and leading digital onboarding experience.
Types of Accounts Offered by RAKBank
01.Personal Current Account
- Daily banking with debit card & cheque book.
- AED 3,000 min balance.
- Available in AED, USD, EUR, GBP for salaried customers.
02.Personal Savings Account
- Interest-bearing account.
- No min balance first 3 months.
- AED, USD, EUR, GBP, CHF, JPY.
- Profit up to 0.25% p.a.
03.RAKmore Salary Transfer Account
- For salaried staff AED 5,000+.
- No min balance.
- Free debit card.
- 1 chequebook/month.
- Some free ATM withdrawals.
04.RAKstarter Business Account (Zero Balance)
- Startup-friendly zero balance for 1 year.
- AED, USD, EUR, GBP.
- Free first chequebook.
- Dedicated support included.
05.Business Current Account
- For SMEs & larger firms.
- AED 25,000 min balance.
- POS, cash mgmt, trade finance.
- AED 50 fee if balance not met.
06.Fixed Deposit Account
- Lock funds 1–36 months for higher returns.
- Min AED 10,000.
- Life insurance included.
- Interest depends on tenure selected.
RAKBank Account Requirements Table 2
| Account Type | Minimum Balance (AED) | Minimum Monthly Salary | Age Requirement | Key Documents Required |
|---|---|---|---|---|
Personal Current Account | 3,000 | AED 3,000 | 21+ years | Salary certificate, Emirates ID, Passport |
Personal Savings Account | 0 (first 3 months) | N/A | 21+ years | Salary/income proof, ID, Passport |
RAKmore Salary Transfer | 0 | AED 5,000 | 21+ years | Salary certificate, Employment letter |
RAKstarter Business | 0 (first year) | N/A | Company entity | Trade license, MoA/AoA, Board resolution |
Business Current Account | 25,000 | N/A | Company entity | Trade license, Business documents |
RAKbooster Savings | Varies | N/A | 21+ years | ID proof, Income proof |
Fixed Deposit Account | 10,000 | N/A | 21+ years | Initial deposit, ID proof, Passport |
RAKislamic Savings | 0 (first 3 months) | AED 3,000 | 21+ years | Islamic preference, ID, Passport |
RAKsave (Minors) | Varies | N/A | Under 18 years | Parent/guardian supervision, Minor's ID |
Flexi Fixed Deposit | 3,000 (min current) | N/A | 21+ years | Initial deposit, ID proof |
Our Scope in RAKBank Account Opening Services
Opening a RAKBank account in Dubai requires understanding account types, eligibility criteria, and documentation requirements. As experienced banking consultants, we bring in-depth knowledge of RAKBank products, account opening procedures, and both resident and non-resident eligibility requirements.
We ensure you fulfill all obligations under UAE banking standards and RAKBank requirements. Partner with us for absolute clarity and ease.
RAKBank Account Opening Services in Dubai
- Account type selection and consultation
- Complete documentation preparation
- Eligibility verification and assessment
- Online and branch application assistance
- Minimum balance and salary guidance
- KYC and identity verification support
- Digital banking activation services
- Business account opening coordination
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