Posted by Neil King
RAKBANK, also known as the national bank of Ras Al Khaimah, has launched a new promotion aimed at helping customers buy a new car.
Running during the holy month of Ramadan, the RAKBANK Auto Loan Promotion offers customers the chance to buy a selection of new cars while scrapping the need for a down payment and delaying the first loan repayment for 90 days after car registration.
"With our frequent programme of value-added promotions and benefits, RAKBANK is committed to its overall strategy of providing innovative, valuable and competitive financial solutions to our customers every season," said general manager Graham Honeybill.
The bank is also using the holy period to launch its Ramadan Loan Instalment Deferral, which will grant customers an automatic instalment deferment on personal loans and SME loans.
Offering an interest rate of 4.75 per cent per annum for all new vehicles as well as flexible payment terms that stretch up to 84 months, the RAKBANK Auto Loan Promotion is available at select showrooms across the UAE.