| Minimum Revenue | Maximum Loan Amount | Equity Required | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
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RAKBANK - Real Estate Finance
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Minimum Revenue: AED 2,000,000 | Maximum Loan Amount: AED 25,000,000 | Equity Required: Yes | Maximum Term: 10 Years | Flat Rate: 3.89% | Reducing Rate: 7.0% |
Top reasons to choose:
Avail higher loan amounts with Equity release, Refinance and Take-over options
Dedicated Relationship Manager
Product USP:
1) Avail higher loan amounts with Equity release, Refinance and Take-over options
2) Avail Trade and Working Capital facility on your property
Detailed Features:
1) For commercial / residential properties located in UAE for companies / UAE nationals
2) Avail ‘Loan against rentals’ for residential or commercial buildings
3) Avail higher loan amounts with Equity release, Refinance and Take-over options
4) Enjoy competitive and flexible pricing, repayment terms and loan tenor
5) Avail Trade and Working Capital facility on your property
Reducing rate:
7% to 9%
Eligibility:
1) Length of Business should be 1year
2) 6 months turnover required >=2 Mio
Documents Required:
1) Valid Trade Licence
2) MOA/AOA
3) Tenancy Contract and Ejari office & Warehouse
4) Labour list
5) One year bank statement
6) WPS recent 3 months
7) Passport copies of signatories and shareholders
8) 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.
Representative Example Calculator
