Minimum Revenue Maximum Loan Amount Equity Required Maximum Term Flat Rate Reducing Rate
RAKBANK - Machinery Finance RAKBANK - Machinery Finance Minimum Revenue: AED 300,000 Maximum Loan Amount: AED 3,000,000 Equity Required: Yes Maximum Term: 5 Years Flat Rate: 0.0% Reducing Rate: 0.0%
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SME’s who need to expand their business by investing in machinery and other commercial assets can now avail Machinery Finance through RAKBANK.

Features & Benefits:
  • Higher loan eligibility for business with a repayment tenor up to 60 months
  • Re-finance option available on selected assets
  • Medium and long term financing at attractive rates
Unique Features:
  • Immediate access to machinery you need
  • Re-finance option available on selected assets
  • Financing against Registered asset and Non Registered Assets
  • "For registered asset : 12%-14%
  •  For unregistered asset : 17%-20%
  • Reducing

Annual Revenue:
  • Minimum Annual Revenue
  •  300K in 6 months
Early Settlement Fees:
  • 5% of the Outstanding
  • Minimum Age of Business: 6 months
Required Documents:
  • Constitutional Documents
  • Asset detailing documents
  • Bank statements
Annual Fee 
  • One time processing fee 1%-2%
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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.
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