Some months are more expensive than the others. This is why our Overdraft Facility can be a real lifesaver when you need to smooth out your cash flow. It's flexible, convenient and can be arranged for a specific period of up to 12 months.
Life can be unpredictable, and sometimes we need a little extra help to get by. That's where our Overdraft Facility comes in. It's like having a financial safety net that you can rely on when you need it the most. With this service, you can withdraw more money than you have in your bank account (up to a certain limit), giving you the flexibility to handle unexpected expenses or cover you until your next paycheck.
Our Overdraft Facility is designed to make your life easier. It's super flexible and simple to use, so you can get the help you need without any hassle. You can arrange the facility for any period up to 12 months, based on your specific needs. You can access your overdraft through your RAKBANK Account or an ATM, giving you easy access to emergency funds whenever you need them. With this service, rest assured you have the security you need during tough times.
For more information about overdraft fees and interest rates, click on the link below.
The Revolving Overdraft (ROD) facility extends a revolving credit line to both Expatriate and UAE National customers. This credit line is established against salary transfers to RAKBANK and the commitment of end-of-service benefits (EOSB) by the employer. The Revolving Overdraft (ROD) facility is currently available only in conventional (non-Islamic) variant.
To access the Revolving Overdraft (ROD) facility, a minimum monthly salary of 5,000 is mandated for UAE Nationals, while Expatriate customers are required to have a minimum monthly salary of 10,000.
Subject to approval and fulfillment of eligibility criteria, customers can leverage the Revolving Overdraft (ROD) facility for amounts up to 50,000.
For an up-to-date breakdown of charges linked to the Revolving Overdraft (ROD) facility, kindly consult the Service and Price guide.
The Revolving Overdraft (ROD) facility undergoes an annual review, with salary transfers and additional checks being pertinent during the renewal process.
The Revolving Overdraft (ROD) facility does not adhere to Islamic financial structures; it operates outside the purview of Islamic banking practices.
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Overdraft Facility That Provides Financial Flexibility | RAKBANK UAE
