Polaris Bank has disbursed over N1billion to customers through its Polaris Salary Advance which was launched barely four months ago.
The beneficiaries who are mostly middle and low income earners made up of professionals across all disciplines were customers whose salary accounts are with the bank.
According to a statement, as one of the bank’s popular product, a collateral-free solution called “Polaris Salary Advance” enables salaried account owners to get up to 50 percent of their net monthly salary to meet basic needs before payday and right on their phones.
Announcing the development, Polaris Bank’s Group Head, Products & Market Development, Adebimpe Ihekuna, described the development as, “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 and flexibility for easy access.”
Expressing excitement on the response of Nigerians to the product benefits just within a space of four months, the banker declared, “we are proud of this feat, she further assured the bank’s customers and prospects of the readiness of Polaris Bank to disburse more funds in 2020 to enable them achieve their goals and aspiration.”
Giving a breakdown of the beneficiaries of the disbursement, Adebimpe explained that the spread was pan-Nigeria with customers from every part of the country embracing the opportunity offered by the product.
One of the beneficiaries, an Abuja-based civil servant, Ahmed Maiwada was full of appreciation for the Polaris salary advance.
“Polaris Bank has made life easy for me with the salary advance product,” he added.