Annual Fee Islamic Banking Minimum Balance Multiple Currencies
RAKBANK - RAKstarter Account RAKBANK - RAKstarter Account Annual Fee: AED 0 Islamic Banking: Yes Minimum Balance: AED 0 Multiple Currencies: Yes
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Tops reasons to choose:
Zero balance account

Product USP:
1) Zero balance account 
2) Earn attractive interest 
3) Free Banking benefits

4) Free Business Insurance

5) Free Cloud Accounting package with connected banking experience.

6) Bundle package at nominal monthly fees

Fixed Rate:
Attractive Foreign Exchange and Trade Finance rates

Detailed Features:
1) Accounts denominated in Dirham*, US Dollar, Pound Sterling or Euro
2) Attractive Foreign Exchange and Trade Finance rates
3) 24 hour Phone banking service

Length of Business < 12 months

Documents Required:
1) Company profie 
2) Valid Trade Licence 
4) Passport copies of signatories  and shareholders
5 )valid Emirates ID

** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Noor Business Accounts
Minimum Balance
AED 10,000
Annual Fee
Emirates Islamic - Business Classic
Minimum Balance
AED 10,000
Annual Fee
AED 1,200