How to apply for Polaris Bank Salary Advance loan

Polaris Salary Advance is a credit facility designed for salary earners (both Polaris account holders and non-account holders). The loan is a convenient, and accessible solution to customers’ immediate financial needs, as well as serving identified new markets.

workers in private employment, corporate Nigeria, civil servants in state and federal employment have accessed and benefited immensely from the facility extended from the Bank, long before they receive their salary.

The instant digital loan product which is targeted at salary earners who meet the Bank’s Risk Acceptance Criteria (RAC) has a 30 days loan tenor. Renewable monthly.Borrower can get up to Up to 50% of net monthly salary in advance

Also read: Polaris Bank Payday Loan- Requirements and how to Apply

This is Payday loan with an added capability of enabling non-account holders to access quick funds with the same speed and ease as the Bank’s customers.The loan is processed and disbursed in less than 1 minute using USSD code. Disbursed funds can be accessed 24/7 via the ATM or your mobile device using our USSD, PolarisMobile, and Polaris eXperience.

The Salary Advance is a small, short-term unsecured loan that relies on the borrower having previous payroll and employment records. As a Salary Advance beneficiary, you repay it either out of your next paycheck or over an agreed time span.

What can affect my eligibility?

Your eligibility will be affected by any of the following:

If you have any outstanding loan(s) in Polaris Bank or other banks.
If you apply using a phone number that is not linked to your BVN.
If there is no evidence that you received salary payment in the previous month.
If you have taken a previous digital loan and exceeded your eligible amount.
If you have an existing loan and the monthly repayment is higher than your eligible amount.


1.Salary must be Domiciled with Polaris Bank
2. Credit life insurance covering the risk of death/disability, and loss of job of the Borrower.
3. Undertaking to deduct repayments at salary source and subsequently remit to the Bank.


1% flat


0.5% flat


Proceeds of monthly salary payment domiciled to the Lender or any BVN linked accounts in any Bank payable via Remita from source.

Interest rates

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

How to Apply for Salary Advance

To apply for Polaris bank salary advance for both Polaris account holders and non-account holders Simply login to Internet Banking

Dial *833*12# USSD Smartcode platform to apply

Visit any Mobile app “VULTe”

You can also visit any branch close to your location.

, ,

About admin

For Advertisement, Content marketing and sponsored post: contact :
View all posts by admin →