Salary ad­vance: Po­laris dis­burses N1bn in four months

The Punch - - BUSINESS & ECONOMY - Nike Popoola

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.”

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