Polaris Bank has disbursed more than N1billion to customers in less than four months through its Polaris Salary Advance.
The beneficiaries were mostly middle and low income earners who patronised the bank’s Polaris Salary Advance account, which enabled the account owners to get up to 50 per cent of their net monthly salary to meet basic needs before payday. The salary advance account could be accessed via mobile phones by dialing *833*12#.
The service which is available on all telecommunication networks, has helped many families to have access to short-term finance to meet their urgent needs.
According to Polaris Bank’s Group Head, Products and Market Development, Adebimpe Ihekuna, it was “a thing of pride that our bank is impacting the lives of millions of families in Nigeria through the salary advance solution.”
She noted that “Polaris Bank also offers other arrays of solution ranging from auto loans, mortgages, holiday loan, rent loan, etc. These loans are bundled with convenience, flexibility for easy access.”
An Abuja-based civil servant, Ahmed Maiwada, was full of appreciation for the Polaris Bank salary advance account. Maiwada said Polaris Bank has made life easy for him with the salary advance product. “Polaris Salary Advance saved me when my wife had a medical emergency here in Maiduguri. I got credit within one minute and I paid minimal interest. God bless Polaris Bank,” he said.