Minimum age
18 years
RAKBANK Current Account
RAKBANK Current Account is an everyday account with a debit card and cheque book on request. Keep AED 3,000 on average to avoid the monthly charge.
At a glance
Key facts
Monthly Fee
AED 26.25/month below AED 3,000
Minimum BalanceAED 3,000
Minimum SalaryAED 3,000
Account access
Debit card included.
App opening is available for AED accounts; visit a RAKBANK branch for non-AED accounts. The AED 3,000 monthly salary requirement applies to salaried individuals; self-employed individuals are also eligible.
Open in the app.
The RAKBANK Current Account is the bank's standard account for daily money. Your salary or business income comes in, and you pay out by debit card, cheque, transfer or standing order. It pays no interest on your balance. You can hold it in AED, USD, GBP, JPY, EUR or CHF, but only the AED account comes with a debit card and a cheque book, and the debit card is what gives you digital banking. A foreign currency account on its own therefore has no online access. If you want a return on money you leave untouched, look at the RAKBANK Savings Account alongside it.
Who can open it
Minimum salary
AED 3,000/month
Salary transfer
Not required
Who can apply
UAE nationals, GCC nationals and expatriates resident in the UAE
Salaried or self-employed
With a legitimate source of income from salary or business
Fees and balance
The account has one recurring charge. In a month when your average balance is under AED 3,000, the bank charges AED 26.25. It is the month's average that counts, not the lowest day. The charge does not apply if you subscribe to an Everyday Banking Package, if you are a RAKBANK Elite or Select customer, or if your salary is paid regularly into a RAKmore or RAKempower current account. The packages, called Ultra, Premium and Ultimate, have their own monthly fee and are for new customers who open an AED account in their sole name through the RAKBANK app. Closing the account within 6 months of opening costs AED 105, unless you cancel within 5 working days of opening.
Minimum balance
AED 3,000
Monthly fall-below fee
AED 26.25
How to avoid the monthly fee Meet any one of these conditions.
- Keep a balanceAverage monthly balance of AED 3,000 or more
- Other exemptionsNot charged with an Everyday Banking Package subscription, or for Elite and Select customers, or with a regular salary transfer on a RAKmore or RAKempower current account
Minimum opening amount
AED 3,000
Account closure fee
AED 105
Charged only within 6 months of opening. Waived within 5 working days.
In plain words
- Fall-below fee
- A monthly charge for holding less than the balance the bank asks for. Here it is AED 26.25, charged in a month when your average balance for the month is under AED 3,000. The average is taken over every day of the month, so a few low days do not trigger the fee on their own. It is not charged in a month when you stay at or above that amount. More on this
- Account closure fee
- A one-off charge of AED 105 for closing the account within 6 months of opening it. Closing it later costs nothing. Closing within the first 5 working days carries no charge either. More on this
- Opening amount and minimum balance
- The opening amount (AED 3,000) is what you pay in to start the account. The minimum balance is what you keep in it afterwards. More on this
Interest
How interest works
Calculated onAverage monthly balance
Eligible balanceFrom AED 100,000 · Up to AED 5,000,000
Rate typeAdded to the base rate
Offer periodFrom 1 October 2026 to 31 October 2026
Bonus period3 months from opening
- Bonus
- For an eligible account opened October 1–31, 2026, with average monthly balance of AED 100,000–5,000,000. Requires first salary transfer within 60 days, with no earlier RAKBANK salary transfer, or Elite classification. Bonus applies for 3 consecutive months including opening month; the first month is prorated. Each qualifying month must meet the balance minimum. Bonus is paid within 30 days after that eligibility period.
How interest works
Calculated onAverage monthly balance
Eligible balanceFrom AED 100,000 · Up to AED 5,000,000
Rate typeAdded to the base rate
Offer periodFrom 1 October 2026 to 31 October 2026
Bonus period3 months from opening
- Bonus
- For an eligible account opened October 1–31, 2026, with average monthly balance of AED 100,000–5,000,000. For customers without qualifying salary transfer or Elite classification. Bonus applies for 3 consecutive months including opening month; the first month is prorated. Each qualifying month must meet the balance minimum. Bonus is paid within 30 days after that eligibility period.
How interest works
Calculated onAverage monthly balance
Eligible balanceFrom AED 100,000 · Up to AED 5,000,000
Rate typeAdded to the base rate
Offer periodFrom 1 October 2026 to 31 October 2026
Bonus period3 months from opening
- Bonus
- For an eligible account opened October 1–31, 2026, with average monthly balance of AED 100,000–5,000,000. Requires first salary transfer within 60 days, with no earlier RAKBANK salary transfer, or Elite classification. Also requires a single settled, unreversed investment of AED 250,000 in an eligible bank-distributed investment product. Bonus applies for 3 consecutive months including opening month; the first month is prorated. Each qualifying month must meet the balance minimum. Bonus is paid within 30 days after that eligibility period.
How interest works
Calculated onAverage monthly balance
Eligible balanceFrom AED 100,000 · Up to AED 5,000,000
Rate typeAdded to the base rate
Offer periodFrom 1 October 2026 to 31 October 2026
Bonus period3 months from opening
- Bonus
- For an eligible account opened October 1–31, 2026, with average monthly balance of AED 100,000–5,000,000. For customers without qualifying salary transfer or Elite classification. Also requires a single settled, unreversed investment of AED 250,000 in an eligible bank-distributed investment product. Bonus applies for 3 consecutive months including opening month; the first month is prorated. Each qualifying month must meet the balance minimum. Bonus is paid within 30 days after that eligibility period.
In plain words
- Annual rate
- The rate is quoted for a full year. Money held for part of a year earns the matching part of it. More on this
- Which balance counts
- The return is worked out on your average balance across the month, so money held for only part of the month counts in proportion. More on this
- Bonus rate
- A rate paid on top of the account's standard rate when you meet its condition. The two are added together for the interest you earn. More on this
- Conditional rate
- A rate that applies only while you meet the condition listed beside it. When the condition is not met, that rate is not paid. More on this
What your money earns here
Bonus you qualify for
Salary transfer or Elite customer (+6.25%)
Held for
1 year
The amount and the rate stay the same for the whole period, and the interest is paid out, not added to the balance. Try other rates
AED 1,563
interest over 1 year
6.25%
a year for the first 3 months
interest earned over time
The standard rate is 0%, so an everyday balance earns nothing. The welcome bonus is counted from the month you open, and the first month is counted in proportion to the days the account was open.
Benefits
Free Debit Card
One free debit card on request for AED accounts
Cheque Book
A cheque book on request for AED accounts
Six Account Currencies
Hold the account in AED, USD, GBP, JPY, EUR or CHF
Transfers to 170+ Countries
Send money within the UAE and to more than 170 countries
Free Monthly Statement
One free statement a month listing every transaction
Fully digital, no branch visit
Account opening
How to open
Before you apply
1.App opening is available for AED accounts; visit a RAKBANK branch for non-AED accounts. The AED 3,000 monthly salary requirement applies to salaried individuals; self-employed individuals are also eligible.
2.Open in the app.
3.Minimum salary: AED 3,000/month.
4.Salary transfer is not required.
5.Minimum balance: AED 3,000.
6.Minimum opening amount: AED 3,000.
7.Debit card included.
Application steps
1.Choose the currency. AED accounts open in the RAKBANK app, and other currencies open at a branch.
2.Complete the application form and submit your documents. The account opens within 2 business days.
3.Pay in the initial deposit of AED 3,000, or the same value in the account's currency.
4.Ask for the debit card and cheque book if you want them. Both are issued on request for AED accounts.
Good to know
Good option for
Salaried or self-employed residents who want a debit card, a cheque book and the option of a foreign currency account, and who will either keep AED 3,000 in the account or qualify for one of the fee waivers.
Consider another account if
You want your everyday balance to earn a return, or you expect your average to sit under AED 3,000 with none of the waivers. Browse accounts with no minimum balance instead.
If a cheque is returned
If a cheque you write is returned unpaid, the bank may report the account to the credit bureau (AECB) and may close it. The person you paid can ask the bank for partial payment of the cheque. A returned cheque can also make it harder to get a loan or credit card from RAKBANK and from other banks.
Frequently asked questions
Get answers to common questions about the RAKBANK Current Account