RAKBANK Home Loans
Info CheckedMortgage Brokers
Deira, Dubai
About
RAKBANK (The National Bank of Ras Al Khaimah) is a well-established UAE bank offering competitive home loan products across Dubai, Abu Dhabi, and Ras Al Khaimah. Known for accessible banking and strong customer service, RAKBANK provides a streamlined mortgage experience with specialist Home Loan advisors who deliver dedicated, personalised guidance from application to settlement.
RAKBANK's home loan products are designed for flexibility, with loan tenures from 1 to 25 years and a minimum down payment of 20%. Their Home-in-One product is particularly innovative, combining mortgage and savings in a single account to give borrowers greater financial flexibility.
Mortgage Services
- Residential home loans for ready properties in Dubai, Abu Dhabi, and RAK
- Home-in-One: combined mortgage and savings account
- Mortgage refinancing and bank buyout
- Islamic home finance through RAKislamic
- Construction financing for self-build projects
- Competitive rates for salaried and self-employed borrowers
Bank Partnerships
RAKBANK is a direct lender. All home loans are originated and funded directly by RAKBANK. Their specialist Home Loan advisors handle every step of the process — from initial enquiry through to final disbursement — without any broker intermediary.
Key Differentiators
- Innovative Home-in-One product combining mortgage with savings flexibility
- Dedicated Home Loan advisors providing personalised, end-to-end service
- Exclusive post-sales services and 24/7 helpline support
- 16 branches across Dubai with accessible in-person advisory
Services Offered
Key services RAKBANK Home Loans provides for mortgage brokers clients in Dubai:
Why Choose RAKBANK Home Loans
- A UAE bank (the National Bank of Ras Al Khaimah, est. 1976) lending its own home-loan products directly, not a broker.
- Both conventional home loans and Sharia-compliant RAKislamic Amal Home Finance under one roof.
- Finances property purchases across Dubai, Abu Dhabi and Ras Al Khaimah.
- Repayment tenures of up to 25 years.
- Initial fixed-rate period, after which the rate is linked to EIBOR plus a fixed margin.
- No In-Principle Approval (IPA) fee to check eligibility, with options for salaried and self-employed customers.
How RAKBANK Home Loans Works
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1
Check eligibility
Speak to RAKBANK about a home loan and obtain an in-principle approval with no IPA fee.
-
2
Choose your product
Select a conventional Home Loan or RAKislamic Amal Home Finance, and a fixed or variable rate structure.
-
3
Property valuation & offer
RAKBANK arranges a valuation of the property and issues a final offer letter setting the rate and margin.
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4
Complete & disburse
Sign the finance documents, register the mortgage at the Land Department, and RAKBANK disburses the funds.
Business Profile
Hours and pricing may change — confirm directly with the business before engaging.
Licenses & Certifications
Licenses and certifications are subject to renewal. Verify current status with the issuing authority before engagement.
Frequently Asked Questions
How much can I borrow for a home loan in the UAE?
Under current Central Bank of the UAE rules, expats can typically borrow up to 80% of the value of a first property priced AED 5 million or less (85% for UAE nationals), and around 60-65% for a second or subsequent property. Off-plan purchases are usually capped at about 50%. RAKBANK's own home loan requires a minimum 20% down payment for properties below AED 5 million and 30% for properties at or above AED 5 million.
What home loan products does RAKBANK offer?
RAKBANK offers a conventional Home Loan for buying approved residential and commercial property, plus RAKislamic Amal Home Finance for customers who prefer a Sharia-compliant solution. Both finance property in Dubai, Abu Dhabi and Ras Al Khaimah and are available to salaried and self-employed customers.
Does RAKBANK offer Sharia-compliant home finance?
Yes. RAKislamic Amal Home Finance is RAKBANK's Sharia-compliant home finance product. It uses Islamic banking structures (including a Hamish Jiddiyah security deposit) and a profit rate rather than interest, with the rate linked to EIBOR plus a fixed margin after the initial fixed period.
Can I choose between a fixed and a variable rate?
Yes. RAKBANK home loans carry a rate that is fixed for an initial period, after which it moves to a variable rate linked to the Emirates Interbank Offer Rate (EIBOR) plus a fixed margin as agreed in your final offer letter.
What is the Debt Burden Ratio (DBR) and why does it matter?
The Central Bank of the UAE caps total monthly debt repayments at 50% of your income (the Debt Burden Ratio). Lenders, including RAKBANK, assess your income against existing commitments to confirm a mortgage stays within this limit before approval.
What fees apply when taking a mortgage in Dubai?
Beyond the bank's own arrangement fee, the Dubai Land Department charges a mortgage registration fee of 0.25% of the loan amount plus AED 290, and a property valuation fee (typically around AED 2,500-3,500) applies. Lenders generally also require life and property insurance. RAKBANK charges no In-Principle Approval (IPA) fee.
Does RAKBANK lend to non-residents?
RAKBANK offers mortgages to UAE nationals, GCC nationals, resident expatriates and non-residents. Exact eligibility, loan amounts and terms for non-residents are confirmed with the bank during the application, as criteria vary by customer profile.
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