Posted by Money Mall Team on 29/07/2020
RAK Bank Mortgage Home Loans
Category Bank News
Buying your own home in UAE is probably one of the most important financial decisions that you will ever make in your life.
Rak Bank Mortgage Offer in UAE
- 3 Year fixed rates starting 2.99%
- Zero fees for In Principle Approvals (IPA)
- Discounted Processing fee of 0.25%
- Discounted valuation fees*
- 0% processing fees if you transfer your existing Mortgage Loan to RAKBANK
* Offer is valid till 31st October 2020
Get the house of your dreams with our Mortgage Loans starting from just 2.99% p.a!
Our Opinion : RAK Bank Mortgage Home Loan Process is one of the Easiest & fastest Mortgage Process in UAE
Property Locations : RAKBANK’s Mortgage Loans are Available for Dubai, Abu Dhabi & Ras Al Khaimah Locations
At MoneyMall, we have a team of specialist mortgage loan advisors who will provide you with dedicated and personal service and guide you effortlessly through the whole process.
RAKBANK Mortgage Loan Features
- Low and affordable mortgage loan interest rates starting from 2.99%
- Finance available on most ready projects with Title Deeds
- Flexible repayment periods for the Mortgage Loans
- Minimum formalities and fast approvals
- High Mortgage loan amounts
| RAK Bank Mortgage Interest rates | Fees & Charges |
| Interest Rates | Starting from 2.99% per Annum |
| Loan Processing Fee | 1% of the approved loan amount |
| In Principle Approval Fee | AED 5000 (non-refundable) |
| Total and Partial Prepayment Charges | Total Prepayment Charges 1% of the loan outstanding amount or AED 10,000/- whichever is lower Partial Prepayment charges 1% of the paid up amount or AED 10,000/- whichever is lower Interest Rate |
| Interest Rate Type | Floating interest & Fixed interest |
| Property Insurance | 0.035% of the property value per year recovered monthly |
| Mortgage Shield Life Insurance | Premium – 0.050% p.m. on outstanding loan amount reducing annually |
RAK Bank Home in One Mortgage offer
Home In One Facility in UAE
A Mortgage Facility that pays you interest!
Rak Bank in its home in one offer, It combines your Current Account, Interest Savings and Mortgage Facility to provide a single, easy-to-manage solution with a range of benefits.
- Home in One links your current account balances to your mortgage facility in order to reduce the mortgage balance you’re charged interest on. This will help reduce your mortgage payments each month.
- Your low yielding deposits once placed in Home in One will yield the same rate as that on the Facility. Additionally you will have instant access to your funds.
- Home in One is ideal for anyone buying a home whether for self-use or as an investment
- The Account offers all facilities of a Current Account i.e. Debit Card, Cheque book, Internet and Mobile banking.
Use RAk Bank calculator now to know how Home in One can save you interest.
