Salary advance: Polaris disburses N1bn in four months
POLARIS Bank said it has disbursed over N1bn to customers through its Polaris Salary Advance scheme, which was launched barely four months ago.
A statement said the beneficiaries, who were mostly middle and lowincome earners and made up of professionals across all disciplines, were all customers whose salary accounts were with the bank.
“As one of the bank’s popular products, a collateralfree solution called ‘Polaris Salary Advance’ enables salaried account owners to get up to 50 per cent of their net monthly salary to meet basic needs before payday right on their phones by dialling *833*12#,” it stated.
The bank said the service, which was available on all telecommunication networks, had since its commencement, helped many families provide short-term financing to their emergent and lifestyle needs.
The Group head, Products & Market Development, Polaris Bank, Adebimpe Ihekuna, said, “A thing of pride is that our bank is impacting the lives of millions of families in Nigeria through the salary advance solution.
“Polaris Bank also offers other arrays of solution ranging from auto loans, mortgages, holiday loan, to rent loan and others. 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, she said, “We are proud of this feat.”
She assured the bank’s customers and prospects of its readiness to disburse more funds in 2020 to enable them achieve their goals and aspiration.
Giving a breakdown of the beneficiaries of the disbursement, Ihekuna explained that the spread was pan-nigeria with customers from every part of the country embracing the opportunity offered by the product.
The statement said, one of the beneficiaries, an Abuja-based civil servant, Ahmed Maiwada, was full of appreciation for the Polaris salary advance.
he stated, “Polaris Bank has made life easy for me with the salary advance product. It saved me when my wife had a medical emergency here in Maiduguri; I got credited within one minute and I paid minimal interest. Now, I don’t go looking for where to borrow money again. God bless Polaris Bank.”