RAKBANK refreshes mortgage pricing — 3.99% buyout, Elite STL fixed for 2 years; new rates effective 29 April
RAKBANK has published refreshed mortgage rates effective 29 April 2026 to 31 July 2026, including a 3.99% buyout promotion across all segments and updated 2-year fixed pricing for Salaried, Self-Employed, and Non-Resident borrowers. Headline 2-year fixed rate for Salaried Elite Salary Transfer customers stays at 3.99%.
The headline change: 3.99% buyout for everyone
RAKBANK's most aggressive move this cycle is a 3.99% fixed-for-2-years buyout rate available to all borrower segments — STL, NSTL, Elite, and Non-Elite. This is a sharp opportunity for anyone currently paying 4.5%+ on an existing mortgage. Two extra benefits attached:
- The follow-on (variable) rate matches the standard customer pricing — no penalty after the fixed period.
- Valuation refund of AED 3,000 on disbursement, after title perfection.
Ready properties — Salaried 2-year fixed rates
| Segment | Type | Rate | Follow-on (Non-HIO) | Follow-on (HIO) |
|---|---|---|---|---|
| Salaried Elite | STL (Salary Transfer) | 3.99% | 1.69% + 3M EIBOR | 1.94% + 3M EIBOR |
| Salaried Elite | NSTL (Non-Salary Transfer) | 4.19% | 1.69% + 3M EIBOR | 1.94% + 3M EIBOR |
| Salaried Non-Elite | STL | 4.09% | 1.69% + 3M EIBOR | 1.94% + 3M EIBOR |
| Salaried Non-Elite | NSTL | 4.29% | 1.69% + 3M EIBOR | 1.94% + 3M EIBOR |
Self-Employed 2-year fixed rates
| Segment | Rate | Follow-on (Non-HIO) | Follow-on (HIO) |
|---|---|---|---|
| Self-Employed Elite + RAKBANK Business Banking Relationship | 4.25% | 1.75% + 3M EIBOR | 2.00% + 3M EIBOR |
| Self-Employed Elite OR RAKBANK Business Banking Relationship | 4.35% | 1.75% + 3M EIBOR | 2.00% + 3M EIBOR |
| Self-Employed Non-Elite | 4.54% | 1.89% + 3M EIBOR | 2.14% + 3M EIBOR |
| Alternate Income Program (Low-Doc) — All customers | 4.85% | 1.99% + 3M EIBOR | 2.24% + 3M EIBOR |
Bankers and Non-Residents
Bankers (who cannot transfer salary): 2-year fixed at 3.99%, follow-on 1.69% + 3M EIBOR (1.94% HIO).
Non-Residents with Golden Visa:
- Salaried: 4.79% (margin 2.25% + 3M EIBOR)
- Self-Employed: 4.99% (margin 2.50%)
- Alternate Income: 5.25% (margin 2.50%)
Non-Residents without Golden Visa:
- Salaried Normal & Alternate Income: 5.24% (margin 2.25%)
- Self-Employed Normal & Alternate Income: 5.49% (margin 2.50%)
LTV guidelines
- Self-use: Max LTV 80% (bureau score 651+) or 70% (score 541-650).
- Investment properties: Max LTV 60%.
- Non-resident: Max LTV 50% (Islamic financing only).
- Min length of business/service: Salaried 1 year; Self-Employed 2 years (or LTV 60 for 1-2 years).
Offers that continue
- Final Offer Letter (FOL) validity: 30 days.
- Zero processing fees for all salaried cases.
- Processing fee: 0.50% for Self-Employed.
- Processing fee: 0.5% on equity amount released.
- Processing fee: 1% + VAT for non-resident and Alternate Income (Low-Doc) transactions, including buyouts.
What it means for buyers
If you're looking to refinance an existing mortgage, the 3.99% 2-year fixed buyout is one of the most aggressive rates available in the market right now — with the AED 3,000 valuation refund as a kicker. On a typical AED 1.5 million outstanding balance, switching from a 4.75% rate could save AED 11,000+ in interest over the 2-year fixed period alone.
For new buyers, RAKBANK's Elite STL pricing at 3.99% remains competitive with the best in the market. Self-Employed borrowers who already bank with RAKBANK Business Banking get the best deal at 4.25%.
These rates apply to applications submitted between 29 April and 31 July 2026. Mortgease's advisory team can help match your profile to the exact RAKBANK tier (Elite vs Non-Elite) and confirm which scenario gets you the best rate.
Need to talk it through? Mortgease's advisory team can help you map this against your specific situation — free, no obligation.
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