Account Service Charges

Account Services

Personal Banking*

Rakelite / Rakselect*

Business Banking*

RAKelite Business Banking*
Digital Banking Access Fee per month
(Till Jan-2022)
 		Free Free 25
* No fee for Enquiry only Access 		25
* No fee for Enquiry only Access
Digital Banking Access Fee per month
(Effective Feb-2022 Onwards)
 		Free Free 50
* No fee for Enquiry only Access & RV CMS package 		50
* No fee for Enquiry only Access & RV CMS package
Cheque Book Request** 25
1st Cheque Book free
AED 1 per leaf for additional cheque book 		Free 1st cheque book free annually
AED 50 for additional Cheque books 		Free
Advance Against Salary (Additional interest of 18% P.A on the Advance salary amount OR Minimum AED 50 per month will be charged) 150 150 NA NA
Duplicate Statement - Previous cycle Statement (Charges Per Cycle) 25 Free Free Free
Duplicate Statement - Prior to Previous cycle Statement (Charges Per Cycle) 25*** 25*** NA NA
Duplicate Statement - Previous cycle Statement 50 Free Free Free
Duplicate Statement - Within 12 months prior to previous cycle NA NA 100*** 50***
Duplicate Statement - Beyond a year from previous cycle NA NA 200*** 100***
Change Transaction Limit Free Free Free Free
Balance Confirmation Letter addressed to Self 50 50 50 50
Balance Confirmation Letter addressed to Auditor/Others 100 100 100 100
Demand Draft/Manager's Cheque 25 10 10 10
Evantage Balance Order - Set up 25 Free NA NA
Evantage Balance Order - First Set up (Evantage to F@st S@ver) only through Digital Banking Free Free NA NA
Evantage Balance Order Cancellation 25 Free NA NA
Evantage Balance Order Amendment 15 Free NA NA
Evantage - Mail a Cheque 5 per cheque leaf and 15 for courier charges NA NA NA
RAKconnect registration Free Free NA NA
Bank Reference Letter Request 100 100 50 50
No Liability Certificate NA NA 100 100
*
All charges quoted are in AED
**
Free for RAKvantage. For other currency accounts, charges apply in AED equivalent.
Minimum monthly average credit balance of AED 250,000 required to be maintained at account level for Business Banking to avoid Cheque Book Issuance Fee.
Cheque Book Request Charge for RAKstarter Account is as below:
1st Cheque Book free annually.AED 75 for additional Cheque books.
***
Per Account, Per Set
In line with the UAE's Value Added Tax (VAT) implementation from 1st January 2018, VAT at the rate of 5% will be levied on RAKBANK's fees and charges specified herein, wherever applicable and as per UAE law.
As per Central Bank mandate, the Bank would have to conduct an AECB (Al Etihad Credit Bureau) check for new clients prior to issuance of cheque books. Effective 1st May 2019 AECB charges of AED 50 would be levied on new clients prior to issuance of cheque books. Subject to satisfactory AECB, new banking customers will be issued a cheque book containing 10 leaves (For Business Banking & RAKelite Business Banking customers only).