Our Recurring Deposit Account offers flexible tenures starting from 1 year up to 5 years and small monthly deposits starting from 350.
Other Requirements:
A Recurring Deposit is a savings plan that gives you the capacity to invest a small amount periodically with a return at the end of the tenor.
No, a Recurring Deposit Account can only be opened by RAKBANK customers. You will need to hold a transaction account (like Current or Savings) to place a request to open a Recurring Deposit Account.
Recurring Deposit Accounts are available for all RAKBANK customers.
If you wish to open a recurring deposit account, place a request through Digital Banking or at your nearest RAKBANK branch. You can also reach out to our call centre and ask for a call back.
Yes, and the closure proceeds will be credited to your linked RAKBANK Account.
Yes, but the applicable interest rate for premature closure will be lower per our Service & Price Guide.
No, and make up for any missed payments at any time. However, the interest will be accrued from the date of the deposits into your Recurring Deposit Account.
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Recurring Deposit Account For Savings & Big Returns | RAKBANK UAE
