RAKBANK Mortgage Home Loan

RAKBANK
Mortgage Home Loan

Minimum Salary Required AED 15000
Max Loan Amount AED 0
Fixed Rate 0%
Reducing Rate 3.24%
Down Payment 25%
Minimum Salary Required AED
Max Loan Amount AED 0
Fixed Rate 0
Reducing Rate 3.24%
Down Payment 25%

Top Reasons To Choose

  • Low and affordable mortgage loan interest rates
  • Finance available on most ready projects with Title Deeds

RAKBANK Mortgage Loans are the most flexible, affordable and easiest way to finance the purchase of property in Abu Dhabi, Dubai and Ras Al Khaimah.

Documents Required

Identification Documents:

  • Passport
  • Labour Card (if applicable)
  • Khulasat Qaid (if applicable)
  • Financial Documents

Salaried customers:

  • Current dated salary certificate addressed to RAKBANK (stating designation, length of employment, detailed breakdown of salary)
  • Other income documents e.g. tenancy contracts and title documents for rental properties
  • Salary bank account statements (reflecting last 6 salary credits in the account)
  • Other income account statements (last 6 months)

Self-employed customers:

  • Audited financial statements (last 2 years)
  • Other income documents e.g. tenancy contracts and title documents for rental properties
  • Personal bank account statements (last 6 months)
  • Corporate bank account statements (last 6 months)
  • If un-audited financial statements - 12 months bank statements for both company and Personal accounts

Legal Documents (Self-employed customers only):

  • Copy of Trade License (at least one year LOB)
  • Copy of Chamber of Commerce Registration
  • Copy of Memorandum and Articles of Association
  • Copy of Certificate of Incorporation, Register of Shares and Power of Attorney (applicable for off-shore companies)

Property Documents:

  • Copy of Sale/Purchase Agreement
  • Receipts of customer contribution and bank account statements validating this payment

Other Documents:

  • Cheque for loan processing fee/valuation fees

Eligibility

  • UAE nationals and all expatriate nationalities
  • Salaried - Minimum Salary requirement of AED 15,000 per month, no salary transfer required
  • For Self-employed: Average Credits of AED 50,000 per month
  • Minimum Age for all primary applicants is 23 years

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