In this fast-paced world, banks are one of the preferred options among customers to fulfill their financial needs. RAK Bank is one of the prominent banks that offers banking services to its customers in different cities of the UAE. It was established in 1976 and offers efficient banking solutions by following Islamic principles. Moreover, the dedication of RAK Bank to advanced technology and innovation sets it apart from other banks. In this detailed blog, we will discuss services, account openings, and the branches of the National Bank of Ras Al Khaimah.
| 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 minimum balance of AED 50,000 |
Services Offered by RAK Bank
Islamic Banking
With this reputable Bank, you can experience different Islamic business loans and working capital solutions. Moreover, the banks also provide you with services like Islamic Credit Cards and Sharia-compliant financing.
Personal Banking
The Bank offers you a range of savings, current, and fixed deposit accounts with different beneficial features. At the National Bank of Ras Al Khaimah, customers can avail of the option of Personal Loans, Auto loans, and Life Insurance. Moreover, you can also experience credit cards that include rewards and travel benefits.
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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 |
RAK Bank Account Creation: A Step-by-Step Process
Mobile App
If any user wants to create an account with RAK Bank then their mobile app is a smart and useful choice.
Download the RAK Bank Mobile App
To create an account, the RAK Bank app is available on Apple Store (for iOS) or Google Play Store (for Android). Furthermore, the user has to download it and install it on your mobile.
Open the App
After installing, you have to open the app and look for the option to Open an Account on the main screen.
Select the Account Type
Here you need to choose the type of account that you desire to create with the National Bank of Ras Al Khaimah. Furthermore, the most common options of accounts offered by the are savings, current, and fixed deposit accounts.
Enter Personal Details
When you select the account of your wish then check eligibility criteria and provide personal details. Moreover, you must provide your Full Name, Residential Address, Mobile Number, and Date of Birth.
Scan and Upload Documents
Now you have to scan and upload documents which are your Passport, Emirate ID, and UAE Residence Visa.
Set Account Preferences
In this step, you have to select options like Debit Card, Cheque Book, and eStatements.
Receive Account Details
After that, you are able to get your account number, IBAN, and login credentials via SMS or email.
Activate Your Account
At last, you have to log in to the app and set your password and PIN.
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FAQs
Which documents should I be required to create an account with RAK Bank?
If you want to create an account with RAK Bank then you must have your Passport, Emirate ID and UAE Residence Visa.
What is the process of closing a National Bank of Ras Al Khaimah account in the UAE?
If you are looking to close a RAK Bank account in the UAE then visit their branch with valid identification and submit a written request. For this purpose, the bank can charge a small account closing fee from the customer.
How can customers create an account with RAK Bank online?
If someone is looking to create an account with RAK Bank then he can avail the option of their official website. Moreover, for this purpose, you have to select the account type, fill out an application form, and upload all required documents.
