As a Polaris Bank customer, you may want to borrow some money from them. It is necessary to identify the type of loans that is available to you.
Polaris offers a variety of loan products to meet the financial needs of individuals and businesses. We’ve written a detailed guide to help you determine which loan type is available to you in Polaris Bank.
Read this: How to Borrow Money from Palmpay Without BVN
Personal Loans
Here are some personal loans tailored for people who need small amount of money or huge capital for their personal need
Personal Term Loan (in Bank)
Personal Term Loan: This loan helps customers cover personal expenses such as holidays, school fees, or medical bills.
Key features include:
- Loan up to ₦70,000,000.
- Flexible repayment plans up to 60 months.
- Available for salaried and business persons
To get this loan, you need to visit Polaris branch close to you.
Polaris Bank Personal Loan (with Ussd Code)
If you want a quicker loan that does not require you to visit bank, you can go for the ussd code version of the polaris personal term loan
With this you can get from 50k up to 1m naira in just about 1 minute. No collateral is needed and you can repay in 6 months.
Here’s how to Get Personal Term Loan with ussd code
- Dial *833*4*4#
- Select personal loan
- Enter how much you want to borrow
- Confirm the repayment plan
- Input pin to complete
Salary Advance
With Polaris Salary advance Loan, salary earners in registered companies can borrow up to 50% of their next salary in advance.
Features include:
- Quick access to funds.
- No collateral required.
- Minimal documentation.
- Competitive pricing.
Read this:
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To get Polaris Salary advance loan, dial *833*12# on your registered phone number and follow the prompt. You can also get this loan using the VULTe App
Requirements
- Must be working in a reputable company, private or public sector
- Salary account must be with Polaris Bank
- You must have good credit history
- Must not already be on another loan type by Polaris Bank
Polaris Bank Auto Loan Scheme
Polaris Bank has partnered with GAC Motors, Elizade JAC Motors and some other companies to offer Auto loans to those who need it.
This Auto Loan Scheme enables customers to purchase brand new vehicles and spread repayments over a period. Features include:
- Flexible repayment terms.
- Competitive interest rates.
- Financing for a wide range of vehicles.
- For both Polaris bank and other banks customers
- For salary earners and self employed individuals
How to Apply for Polaris Bank Auto Loan
To apply for this Loan,you can visit any Polaris bank close to you. Ask them for Auto loan form and they will hand it to you.
Also, you can ask them to guide you in anything you don’t understand while filling the form.
Alternatively, you can get it online. You can start the process here
Market Loan
Designed for traders dealing in fast-moving consumer goods, the Market Loan offers:
- Financing up to ₦5 million.
- Short-term overdraft up to 180 days with a 30-day cleanup cycle.
- Competitive interest rates.
- Reduced collateral requirements.
To apply for Polaris Market Loan, visit the nearest Polaris bank to you and ask for how to get it.
Education Loan
Polaris Bank provides loans to educational institutions for working capital, asset financing, and other needs.
Features include:
- Loan of up to N100M
- Repayments from domiciliation of school fee proceeds.
- Teachers and Parents can also enjoy personal loans for payment of school fees and other needs
- Tenor from 90 days to 36 months.
- Loan can be used to purchase school buses, official vehicles, education materials, generators, etc.
How to Apply
To apply for any of these loans:
- Determine Eligibility: Ensure you meet the specific requirements for the desired loan product.
- Gather Necessary Documents: Prepare identification, proof of income, and any other required documents.
- Submit Application: Visit a Polaris Bank branch or use their digital platforms to apply.
- Await Approval: The bank will review your application and inform you of the decision.
For more detailed information, visit Polaris Bank‘s official website or contact their customer service.
