# RAK Bank Car Loan **Original Url:** https://www.paisabazaar.ae/car-loans/rak-bank-car-loan/ RAKBANK is one of the biggest market leaders in providing high-standard banking services across the UAE. Established in 1976, it offers a wide range of banking solutions for individuals and businesses. Additionally, the bank is committed to providing an exceptional banking experience to its customers with its digital solutions, transparent services, and robust customer support. ...read more Table of Content * [Top Car Loan Plans in Dubai](#top-car-loan-plans-in-dubai) * [RAK Bank Car Loan: Overview](#rak-bank-car-loan overview) * [Key Features of RAK Bank Auto Loan](#key-features-of-rak-bank-auto-loan) * [Eligibility Criteria to Apply for RAKBANK Car Loan](#eligibility-criteria-to-apply-for-rakbank-car-loan) * [RAK Bank Auto Loan Calculator](#rak-bank-auto-loan-calculator) * [How to Apply for a RAK Bank Car Loan?](#how-to-apply-for-a-rak-bank-car-loan) * [Frequently Asked Questions](#frequently-asked-questions) RAK Bank car loan is one of the bank's most popular services, helping you own your dream car. It provides you a convenient way to buy a car by breaking the upfront cost into manageable monthly payments. You can get this loan at affordable interest rates with no hidden charges. If you are ready to hit the road in your dream car, discover all the features, eligibility criteria and more of the RAK bank auto loan to make an informed decision. ## Top Car Loan Plans in Dubai Emirates NBD Plan Name Auto Loans Minimum Salary (AED) 5000 Fixed Rate 1.99% Reducing Rate N/A Flexible Repayment Free Bank Account Minimum Documentation Abu Dhabi Commercial Bank Plan Name Car Loan Minimum Salary (AED) 5000 Fixed Rate 1.99% Reducing Rate 3.65% Flexible Repayment Fast Track Approvals Minimum Documentation Emirates NBD Plan Name Flexi Drive Minimum Salary (AED) 5000 Fixed Rate 1.92% Reducing Rate N/A Fast Track Approvals Minimum Documentation Abu Dhabi Islamic Bank Plan Name Car Finance Minimum Salary (AED) 5000 Fixed Rate N/A Reducing Rate N/A Flexible Repayment Fast Track Approvals Minimum Documentation RAKBANK Plan Name Car Loans Minimum Salary (AED) 5000 Fixed Rate N/A Reducing Rate N/A Flexible Repayment No Salary Transfer Minimum Documentation ## RAK Bank Car Loan: Overview RAK Bank auto loan enables you to accumulate funds for buying a car in the UAE. This loan typically offers an easy application process, competitive interest rates, flexible tenure, and more. Transparency is their top priority, ensuring that you make an informed decision. A major advantage of applying for this loan is that you can get immediate ownership of the car. It also prevents you from financial burdens, as it requires you to pay a low down payment. The rest of the car cost can be paid on a monthly basis with an easy EMI option. ## Key Features of RAK Bank Auto Loan The key features of RAK Bank auto finance are discussed below: * Enjoy a competitive interest rate, starting from 2.7% * Low-cost [car loan](https://www.paisabazaar.ae/car-loans/) option without any hidden charges * Flexible repayment tenure of up to 60 months  * Get up to 2 deferrals in a year * Lower down payment * No salary transfer is required * Car finance available for companies * Easy and hassle-free application process ## Eligibility Criteria to Apply for RAKBANK Car Loan You need to meet the following RAK Bank car loan requirements: | Criteria | Requirements | | --- | --- | | Minimum Salary  | AED 5,000/month | | Nationality  | UAE Nationals, GCC Nationals and Expats | | Documents | UAE residence visa | ✍️**Note:** You may need to submit additional documents if requested by the bank. ## RAK Bank Auto Loan Calculator When applying for a car loan, it’s important to calculate the monthly installments. This is where the [RAK auto loan calculator](https://www.paisabazaar.ae/car-loans/articles/rakbank-car-loan-calculator/) helps you compute the EMI. With this, you can plan your future disbursements and make an informed decision. It’s easy to use the tool by simply putting in some inputs, such as car value, down payment, and interest rate, and you can get an estimated amount of car EMI. Car Loan EMI Calculator Total Interest AmountAED 0 Monthly InstalmentAED 0 Total Payable (Principal + Interest)AED 0 Loan Amount AED 10,00010,000,000 Interest Rate % 150 Reducing Rate (1% - 50%) Loan Tenure 160 (Minimum & Maximum Months) ## How to Apply for a RAK Bank Car Loan? Getting a RAK bank auto loan is effortless with Paisabazaar.ae. Here is how you can simply apply: * Click on ‘Car Loans,’ visiting the homepage of Paisabazaar.ae * Fill out the lead form with the required information * A quote page will be displayed on your screen; explore various car loan options * Choose the best one by comparing their features, interest rates, benefits, and more * Click on the “Apply” button **Apply for Car Loan from Paisabazaar.ae!** It’s done! Our representative will get in touch with you and guide you through the further steps. ## Frequently Asked Questions ### Q1. What is the minimum salary for a RAK Bank car loan? The minimum salary requirement for a car loan at the RAK Bank is AED 5,000. ### Q2. What is the minimum down payment for an RAK Bank auto loan? In the UAE, you need to make a down payment of at least 20% of the loan amount for an auto loan. To know the specific requirement in your case, it’s advisable to connect with RAK Bank directly. ### Q3. How much is the processing fee for an RAK Bank car loan? The RAK Bank charges a small amount as processing fees, which is around 1.05% for individual applicants and 1.575% for businesses. ### Q4. Can I apply for a RAK Bank used car loan if I don’t have an account in the bank? Yes, the bank offers auto finance options for used cars, even if you don’t have a salary account in the RAK Bank. ## People Also Looking For [Top 5 Credit Cards In Uae](https://www.paisabazaar.ae/credit-cards/)[Credit Cards With Airline Lounge Access](https://www.paisabazaar.ae/credit-cards/articles/5-credit-cards-offering-complimentary-airport-lounge-access/)[Credit Cards For Cash Back](https://www.paisabazaar.ae/credit-cards/articles/top-cashback-credit-cards-in-uae/)[Application Credit Card Status](https://www.paisabazaar.ae/credit-cards/articles/how-to-check-credit-card-application-status/)[Emirates NBD Credit Card Tracking](https://www.paisabazaar.ae/credit-cards/articles/how-to-check-emirates-nbd-credit-card-application-status/)[Free For Life Credit Cards Uae](https://www.paisabazaar.ae/credit-cards/free-for-life-credit-cards/)[Credit Credit Cards Instant Approval](https://www.paisabazaar.ae/credit-cards/articles/want-a-credit-card-with-instant-approval-here-are-your-options/) [Great Credit Cards For Beginners](https://www.paisabazaar.ae/credit-cards/articles/best-credit-cards-for-beginners-in-uae/)[Adcb Credit Card Application Status](https://www.paisabazaar.ae/credit-cards/articles/how-to-check-adcb-credit-card-application-status/)[Credit Card Without Annual Fee](https://www.paisabazaar.ae/credit-cards/articles/top-credit-cards-with-no-annual-fee-in-uae/)[Check Eligible Credit Cards](https://www.paisabazaar.ae/credit-cards/articles/credit-card-eligibility-in-uae/)[Credit Card For Housewife Uae](https://www.paisabazaar.ae/credit-cards/articles/get-a-credit-card-in-uae-without-a-job/)[UAE Identity Card Status](https://www.paisabazaar.ae/credit-cards/articles/check-your-emirates-id-status/)[apply for credit card](https://www.paisabazaar.ae/credit-cards/) ## Car Loans * [Car Loan in UAE with Salary Transfer](https://www.paisabazaar.ae/car-loans/car-loan-with-salary-transfer-in-uae/) * [Car Loan with Salary Transfer](https://www.paisabazaar.ae/car-loans/car-loan-with-salary-transfer-in-uae/) * [Car Loan for Self-Employed Professional](https://www.paisabazaar.ae/car-loans/car-loan-for-self-employed-professional-in-uae/) * [Car Loan in UAE for Expats](https://www.paisabazaar.ae/car-loans/car-loan-for-expats/) * [Car Loan in UAE Without Salary Transfer](https://www.paisabazaar.ae/car-loans/car-loan-without-salary-transfer/) * [Car Loans for UAE Nationals](https://www.paisabazaar.ae/car-loans/car-loans-for-uae-nationals/) ## Car Loan Providers * [ADCB Loan](https://www.paisabazaar.ae/car-loans/adcb-car-loan/) * [ADIB Loan](https://www.paisabazaar.ae/car-loans/adib-car-loan/) * [HSBC Loan](https://www.paisabazaar.ae/car-loans/hsbc-car-loan/) * [Emirates NBD Loan](https://www.paisabazaar.ae/car-loans/emirates-nbd-car-loan/) * [FAB Loan](https://www.paisabazaar.ae/car-loans/fab-car-loan/) * [CBD Loan](https://www.paisabazaar.ae/car-loans/cbd-car-loan/) * [Emirates Islamic Bank Loan](https://www.paisabazaar.ae/car-loans/emirates-islamic-bank-car-loan/) * [Dubai Islamic Bank Loan](https://www.paisabazaar.ae/car-loans/dib-car-loan/) * [United Arab Bank Loan](https://www.paisabazaar.ae/car-loans/united-arab-bank-car-loan/) * [Sharjah Islamic Bank Loan](https://www.paisabazaar.ae/car-loans/sharjah-islamic-bank-car-loan/) * [Finance House Loan](https://www.paisabazaar.ae/car-loans/finance-house-car-loan/) * [Ajman Bank Loan](https://www.paisabazaar.ae/car-loans/ajman-bank-car-loan/) * [Arab Bank Loan](https://www.paisabazaar.ae/car-loans/arab-bank-car-loan/) * [Al Hilal Bank Loan](https://www.paisabazaar.ae/car-loans/al-hilal-bank-car-loan/)