How to apply and receive Polaris bank Payday loan in minutes
Polaris bank payday loan – One cannot dispute the need for urgent fund to undertake some financial obligations that may come his/her way from time to time.
Given this, if you are a salary earner who wish to access urgent fund for whatever purpose and pay back on the next payday, I think this guide will make ideal case for you.
Polaris payday day loan is an invention of Polaris bank limited to help salary earners in times of need within a short window that revolves between the disbursement and the next payday.
What this meant to say is that, having received this loan you are expected to repay same on the next payday.
This loan is given according to one’s salary, you cannot receive more than you earn in a month not even up to what you earn.
The reason behind this decision is to ensure you do not run out of cash to see off other demanding expenses, think that’s a wise decision they took on your behalf.
Features of Polaris bank payday loan
- You are not expected to provide a cosigner or collateral of any kind
- There’s no documentation attached to this loan
- No charge applies on withdrawal of this loan
- You can withdraw this fund with your ATM card
There are usually certain persons/customers who should access various loans, this is not an exception to those loans either.
To access this loan,
- You must be a salary earner with a registered and organized institution
- Corporate body
- Staff on government payroll who salary accounts are with Polaris bank.
How to repay Polaris payday loan
- Like it seems, the repayment is expected at the next payday
- On this repayment 2.5% flat rate is deducted with a 1% management fee up to 3.5% to be accrued as interest
- Depending on your capacity, you can receive as high as N500k.
Read also: How to access Wema bank salary advance loan
How to apply/receive this loan
From your registered mobile line with the Polaris bank Ltd,
- Dial *833*12#
- You will be notified of amount you can borrow
- Given this, you should choose amount within your threshold
- Confirm your transaction and your loan will be credited to your bank account in seconds. It’s that easy and does not require protocols.
Frequently asked questions
Polaris bank payday loan interest rate?
You will pay 2.5% flat rate of the loan amount plus 1% management fee which all together sum up to 3.5%.
Polaris bank civil servant loan?
The Polaris bank civil servant loan consist of the payday and the salary advance loan.
If you wish to access other forms of loan available for civil servant, kindly visit your nearest branch, get to see your account officer, prior this ensure to have a good credit history.
You must have been banking with the bank too.
Polaris bank loan code?
The Polaris bank USSD loan code is *833*12#
Polaris bank student loan?
This is what Polaris bank refers to as the “Education loan”
This loan is designed to cater to the needs of private school; primary, secondary, and tertiary institutions.
- 90 days to 36 months tenure
- Loan of up to 100 million can be given considering the class of your school
- Repayment is from domiciliation of school fees proceeds with the bank
and parents could access personal loans for payment of school fees, etc.
The Polaris bank payday loan can be accessed by salary earners who accounts are domiciled with Polaris bank Limited.
It has an interest of 2.5% flat rate of the loan amount and a 1% management fee, which all together is 3.5%.
Repayment of this loan is on the next payday, loan is disbursed according to your monthly salary. In any case you need long to middle term loan you may have to consider other types/products of the bank.