Last Updated on July 1, 2024 by admin
With the Polaris Salary Advance, you can access up to 50% of your next salary in advance. You can qualify for this type of short term loan as long as you are a salary earner. It doesn’t matter whether or not you have an account with Polaris Bank or not. No collateral required and it is available for employees or persons with assured income.
The Salary advance loans are designed to provide immediate cash when you need it most. The application process is usually fast, often completed 24/7 via the ATM or your mobile device using our VULTe and USSD, Your Salary Advance is processed and disbursed in less than 1 minute using our USSD code *833*12
This kind of credit facility is convenient, and accessible solution to customers’ immediate financial needs, as well as serving identified new markets. The bank offer different kind of loan to its depositors they include,Polaris Salary Advance,Digital ,Loans Terms & Conditions and personal term loan,Market Loan and Money Transfer
You can also read: How to check Polaris [Skye] bank Account Balance and Bank statement of Account
1. Polaris Salary Advance Loan:
With Polaris bank pay day loan, depositors who’s salary is domicile with the bank can now access up to 50% of their next salary in advance.
The Loan is processed and disbursed in less than 1 minute using our USSD code . Disbursed funds can be accessed 24/7 via the ATM or your mobile device using our USSD, PolarisMobile and PolarisXperience.
What is the Features & Benefits of Salary advance loan?
1.Quick access to funds for bridging short-term funding gap.
2.Competitive pricing
3.Access 70% of monthly net income upfront
4.24 hours loan processing time
5.No collateral required
6.Minimal Documentation
Also read: Polaris Bank (Skye Bank) transfer code:How to Buy Airtime,Transfer Money and Check Account Balance
Requirements to apply for Polaris bank Salary advance
To qualify for Polaris bank salary Advance, You must be employed by reputable organizations in both private and public sectors also your salary account must be domiciled with Polaris Bank.
How to Apply for Polaris salary advance Loan?
Option 1
You can apply for Polaris bank salary advance via ussd code all you need is to Dial *833*12# from your registered mobile phone and follow the instructions to access the Salary Advance. It takes less than a minute
Option 2.
Visit any of our branches closest to you to complete a loan application form and submit same with other required documents
Option 3
Call Polaris Yes Center on 0700-7652747, 08069880000, 01-4482100 or 01-2705850.Call your relationship officer.
Other loan package offer by Polaris bank
Apart from salary advance, polaris bank also offer different type of loan to it’s numerous customer ranging from term loan, payday loan,digital loan , educational loan etc. Let take a look at each briefing
Personal Term Loan:
This kind of loan help depositor’s to carry out their financial needs on medical bills, school fees, asset acquisition or setting up that small scale business.
What is the Features & Benefits
1.depositors can access up to N10 million
2.Flexible and convenient monthly repayment plan over a maximum period of 48 months
3.Repayment from salary domiciled with the bank
4.Competitive Interest Rate
5.No collateral required
Requirements
You must be a confirmed staff of a reputable organization in private or public sector
Domiciliation of Salary with Polaris Bank
How to Apply for Polaris bank personal term loan
1.Visit any Polaris Bank branch closest to you to complete a loan application form
2.duly completed loan form with all relevant loan documents.
3.Loan is processed and disbursed within 48 hours
4.You can also:Call YES CENTER on 0700-POLARISBANK (070075932265), 08069880000, 01-4482100 or 01-2705850.\Call your relationship officer.
You may like: How to Apply for Zenith bank and FCMB Bank salary advance loans
3. Polaris Bank Digital Loans
This kind of loan is eligible and interested customers under the following terms and conditions to bridge cash flow gap.
It has 30 days tenor or next salary date (whichever comes first).The interest rate for the facility is 2.5% flat, which shall be subject to review from time to time in line with the prevailing money market condition.
The loan interest rate is 1% flat with life insurance 0.5% flat.
REPAYMENT SOURCE:
Proceeds of monthly salary payment domiciled to the Lender or any BVN linked accounts in any Bank payable via Remita from source.
COMMENCEMENT DATE:
This loan shall commence on the date of disbursement. This loan is repayable on the next Pay Day or 30days after (whichever comes first).
SECURITY/SUPPORT:
The loan shall be secured with the following:
Irrevocable Domiciliation of Salary
Credit life insurance covering the risk of death/disability, and loss of job of the Borrower.
Undertaking to deduct repayments at salary source and subsequently remit to the Bank.
