Whether you are willing to manage your finances or business, Banks are smart and help options. RAK Bank is one of the well-known banks in the UAE that offers a wide range of services to its valuable customers. Moreover, it was founded in 1976 and is the leading player due to its banking services in this vibrant country. The commitment of the National Bank of Ras Al Khaimah to customer satisfaction and advanced technology enhances your experience. In this detailed blog, we will explore services, account openings, and the branches of RAK Bank.
| Accounts | Fee/Charge (AED) | Overdraft Charges | Notes |
| Current Account | No monthly fee | AED 100 per month (for overdrawn accounts) | Minimum balance required: AED 3,000 |
| Savings Account | No monthly fee | Not available | Minimum balance required: AED 3,000 |
| Fixed Deposit | No charges | Not available | Early withdrawal may incur a penalty |
| Islamic Current Account | No monthly fee | AED 100 per month (for overdrawn accounts) | Minimum balance required: AED 3,000 |
| Business Current Account | AED 200 monthly | AED 150 per month (for overdrawn accounts) | Waived with a minimum balance of AED 50,000 |
Services Offered by RAK Bank
Business Banking
RAK Bank allows its customers to experience business current accounts that are helpful to manage transactions easily. Moreover, in this prominent bank, you can also avail of services like business loans, trade finance, and SME financing.
Digital Banking
In UAE, if you choose RAK Bank then you are able to 24/7 access your account to transfer funds and pay bills from anywhere. The bank also offers secure Internet banking for personal and business accounts. Moreover, here you can avail of services like international money transfers with competitive exchange rates.
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RAK Bank Branches in the UAE
| City | Branch | Contact No | Operating Hours |
| Dubai | RAK Bank – Bur Dubai | +971 4 393 2000 | Sun-Thu: 8 AM to 3 PM, Fri: Closed |
| Dubai | RAK Bank – Deira | +971 4 222 7480 | Sun-Thu: 8 AM to 3 PM, Fri: Closed |
| Abu Dhabi | RAK Bank – Al Muroor | +971 2 443 1877 | Sun-Thu: 8 AM to 3 PM, Fri: Closed |
| Abu Dhabi | RAK Bank – Al Ain | +971 3 722 8855 | Sun-Thu: 8 AM to 3 PM, Fri: Closed |
| Sharjah | RAK Bank – Al Gulaya | +971 6 574 4343 | Sun-Thu: 8 AM to 3 PM, Fri: Closed |
| Ajman | RAK Bank – Ajman | +971 6 746 6060 | Sun-Thu: 8 AM to 3 PM, Fri: Closed |
Step-by-Step Guide to Opening a RAK Bank Account
Via Website
If any user wants to create an account with RAK Bank then online is a straightforward and reliable method.
Visit the RAK Bank Official Website
For account opening purposes, you need to visit the official website of RAK Bank.
Select the Type of Account Type
After accessing the website, here you have to choose the type of account that you aim to open like a current, savings, or fixed deposit account.
Begin the Application
Now after choosing your desired account, you need to click on “Apply Now”. Moreover, from here you will redirect to the account opening form.
Fill in Personal Details
In this step, you have to provide your personal information to fill out the online application form. Furthermore, these vital details include Full name, contact information, and nationality. For this purpose, you also have to enter your Date of Birth, residential address, and employment details.
Upload Documents
Here you have to upload digital copies of documents which are required to create an account. Moreover, these essential documents are Emirates ID, UAE residency visa, and passport copy.
Agree to Terms and Conditions
It is vital to double-check the terms and conditions and then tick the box.
Verification Process
After that, when your application is submitted, the bank will conduct your document verification. Furthermore, when your verification is done successfully, you can receive your Account Number and IBAN.
Account Activation
At last, when your account is created, you will need to deposit some amount.
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FAQs
How can users easily create an account with RAK Bank online?
To create an account with RAK Bank, users can use the official website and mobile app. Moreover, for account opening purposes, you have to fill out an application form and upload digital copies of documents.
Why is it important for customers to create an account with RAK Bank?
If anyone creates an account with RAK Bank it allows him to manage finances and avail islamic banking services.
What is the reliable way to open an account with RAK Bank?
One of the reliable and comfortable ways to open an account with RAK Bank is to visit their official website or branch.
Which types of accounts can customers open at the National Bank of Ras Al Khaimah in the UAE?
With the National Bank of Ras Al Khaimah, customers can create various accounts like Savings, Current, and Fixed Deposit.
