RAKvantage is a unique current account which gives you higher rates of interest on progressively higher balances that you maintain in the account.
RAKvantage Accounts are offered in AED and USD currency only.
The minimum monthly average balance you need to maintain in your RAKvantage Account is AED 3,000.
Yes, the RAKvantage Account provides you with the facility of free personalized cheque book and Debit Card, which can be used across the RAKBANK and UAE SWITCH ATM network.
Individuals resident in the UAE and GCC nationals are eligible to open a RAKvantage Account. Unfortunately a RAKvantage Account is not intended for use by businesses. For interest bearing company current accounts we offer the RAKfinance account in AED and USD currencies.
Statements are issued on a monthly basis.
If the minimum monthly average balance falls below AED 3,000 a ledger fee will apply as per current Service & Price guide.
Interest is calculated on the basis of the daily available balance for each day. At the end of the month, the account will be credited with the total of daily interest accrued on your account.
Note: If interest payable is less than AED 10/-, then no interest is credited.