RAKBANK
Home In One

Identification Documents:

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

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 & other documents

• Copy of Sale/Purchase Agreement
• Receipts of customer contribution and bank account statements validating this payment
• Cheque for loan processing fee/valuation fees

• UAE Residents: 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

• Pay off your Loan much sooner
• Easy access to your funds 
• Low Cost Mortgage
• The Account offers all facilities of a Current Account i.e. Debit Card, Cheque book, Internet and Mobile Banking.
• Variable rate from Day 1 starting from 3 months EIBOR + 1.69% to 3 months EIBOR + 1.99% reducing p.a.
• Attractive option of 3 Years Fixed Rates for Salaried and Self-employed customers starting from 4.49% p.a. to 4.89% reducing rate p.a. Follow on rates after expiring the fixed rate period starting from 3 months EIBOR + 1.79% to 3 months EIBOR + 2.19%
• No In Principle Approval (IPA) fees
• 0% Processing Fee for buyout loans
• 0.50% Loan Processing Fee for Salaried Customers and 0.75% for Self Employed Customers
• Special discount on evaluation fees of AED 1,850 
• Offer is valid till 15 September 2022 on ready residential properties only
• The Home in One Current Account will work as your primary account which you can use for all transactions in the month including but not exclusive to salary transfers, parking of excess funds and daily expenses.
• The inherent working of the account allows you to net off your Home In One facility outstanding with any deposits you make in your account for interest calculation. The interest is charged only on the resulting balance. 

Features

• Debit Card and Cheque book
• Pre-approved Credit Card
• Internet and Mobile banking
• Access to our ATM network
• If your property value exceeds AED 2.5 Millon you will also be eligible for our RAKelite offering.

Home in One is also available for under construction properties.