RAK Home in One
Go for a mortgage loan that saves you interest.
Introduction
The more you deposit, the lower your interest. The more funds you deposit in your Current Account, the less interest you pay on your Home in One Loan. This means that you pay interest only on the outstanding loan amount net of the credit balances in your Home in One Current Account with the bank. Therefore, you pay less or no interest depending upon the balances in your Home in One Current Account.
Key Features
Reduce your interest. Home in One links your current account balances to your mortgage loan in order to reduce the mortgage balance you’re charged interest on. This will help reduce your mortgage payments each month. For any low-yielding deposits, once placed in your Current Account, will yield the same rate as that on the mortgage loan.
Access your funds anytime. You can withdraw your available balance at any time, just like any current account The Home in One current account offers all facilities of a current account, i.e. debit card, cheque book, internet and mobile banking.
Low-cost mortgage. No In-Principle Approval (IPA) fees. 0% processing fee for buyout loans
Competitive interest rates. Attractive option of 2 years fixed rates for salaried and self-employed customers starting from 4.39% p.a. to 5.99%, reducing rate p.a.
Apply for RAK Home in One
Apply here
Eligibility
UAE nationals and UAE residents.
Minimum income required for salaried individuals: AED 15,000 / month
Minimum income required for single and joint expats: One borrower’s salary has to be a minimum of AED 10,000 / month
For salaried individuals: Maximum loan amount of up to AED 13 million
For self-employed customers. Maximum loan amount of up to AED 20 million