Who can apply for the Rakbank Home Loans
The Rakbank Home Loan is open to UAE Nationals, Residents, Expats, and even Non-Residents, making it one of the most inclusive mortgage options in the region. Applicants must meet minimum income requirements—typically AED 15,000 per month for salaried individuals—and be able to provide proof of stable employment.
Salaried applicants must show confirmed employment with a minimum tenure that meets the bank’s criteria, usually six months or more. Self-employed applicants can apply for financing up to AED 20 million, depending on their financial profile and business performance.
Age restrictions typically require borrowers to be between 21 and 65 years old at the time of final repayment. Expats must also have valid UAE residency or relevant documentation if applying as a non-resident.
Required documentation
Applicants for the Rakbank Home Loan must provide several key documents to initiate the approval process. These include a valid Emirates ID and passport copy, along with a valid UAE residence visa for expatriates.
Salaried individuals must submit a recent salary certificate, and in some cases, an employment contract or HR letter may be required. Three to six months of bank statements are essential to demonstrate income flow and financial stability. A completed loan application form and a signed credit consent form authorizing Rakbank to check your AECB report are mandatory. Keep reading to learn how to apply for the Rakbank Home Loans!
A tip for your wallet
Before locking in your mortgage, consider whether the Home in One version of the Rakbank Home Loan is the better fit for your financial style. This product links your loan and current account, letting your savings offset your loan balance, which reduces the interest charged over time. It’s ideal for high-income earners or entrepreneurs with fluctuating cash flow.
Always check whether you qualify for fixed or variable interest rates and understand how each affects your monthly repayment. Planning ahead and using Rakbank’s loan calculator can help you choose the right property and avoid budget surprises.
How to apply for the Rakbank Home Loans?
How to apply for the Rakbank Home Loans – First, review your eligibility and ensure all required documents are ready. You can apply directly through the RAKBANK website, visit a branch, or complete the process through the bank’s mobile app. The application process is streamlined and typically includes a property evaluation and income verification.