How to Borrow Money From Polaris Bank Loan

Are you in need of financial assistance and considering borrowing money from a reliable source? Look no further than Polaris Bank. In this article, we will guide you on how to borrow money from Polaris Bank, a trusted financial institution known for its customer-centric approach and competitive loan offerings. Whether you require funds for personal needs, business expansion, or any other financial goal, Polaris Bank provides a seamless and straightforward borrowing experience.

Read on to discover the steps and benefits of obtaining a loan from Polaris Bank to fulfill your financial requirements efficiently.

Eligibility To Borrow Money From Polaris Bank

Polaris Auto Loan Scheme

  • Applicant must be a salaried or self-employed individual.
  • The applicant’s employer can be from the Federal Government, State Government, Multinational/Oil & Gas, Private Company, or other reputable organizations.
  • The salary account must be domiciled with Polaris Bank.

Polaris Salary Advance

  • Applicants must be employed by reputable organizations in both private and public sectors.
  • The salary account must be domiciled with Polaris Bank.

Personal Term Loan

  • Applicants must be confirmed staff members of reputable private or public organizations.
  • The salary must be domiciled with Polaris Bank.

Types Of Polaris Bank Loans

Polaris Auto Loan Scheme

Your dream of owning that perfect car can now be transformed into reality with the Polaris Auto Loan Scheme. As a valued customer, you can purchase a brand-new vehicle of your choice and enjoy the flexibility of spreading repayments conveniently. Take advantage of the Polaris Auto Loan Scheme, tailored to cater to salaried and self-employed individuals.

Here’s what you need to know about this fantastic offering:

  • Loan Amount: You can secure a loan of up to N40 million, ensuring that you have access to ample funds to get the car that suits your preferences and lifestyle.
  • Loan Tenor: Enjoy the freedom of repaying the loan over a comfortable period of up to 48 months. This extended repayment term allows you to manage your finances more effectively.
  • Equity Contribution: Now, owning your dream car is even more accessible with Polaris Auto Loan Scheme. You can contribute as little as 10% of the vehicle’s cost as equity, making it easier to get behind the wheel of your desired car.

Polaris x GAC Motors

This exclusive offer caters to salaried employees and self-employed individuals with verified income sources, ensuring everyone can experience the thrill of driving these exceptional vehicles.

The pricing details are designed with your convenience and affordability in mind:

  • Interest Rate: Enjoy an attractive 0% p.a. interest rate for the first four months, followed by a reasonable 25% p.a. for the remaining 56 months, making it a smooth and financially manageable journey.
  • Management Fee: Benefit from a low and transparent 1% flat management fee, ensuring fair and straightforward financial dealings.
  • Auto Insurance: Drive with confidence and peace of mind, knowing that auto insurance comes at a competitive rate of just 5%.
  • Equity Contribution: Experience the flexibility of a 0% equity contribution requirement, making it easier to own your dream car. You can enjoy a 60-month tenure, strategically leveraging the 5-year vendor warranty for continuous support throughout your car’s lifetime.

Moreover, Polaris x GAC Motors goes the extra mile to reward their valued customers with additional benefits:

  • 5-Year Warranty: Enjoy comprehensive protection for your car with a generous 5-year warranty.
  • Free Car Registration: Experience hassle-free ownership with complimentary car registration.
  • GAC Motor Gift Box/Starter Kit: Receive a thoughtful gift box or starter kit as a token of appreciation.
  • FREE First Check & First Service: Get your car’s first check and service at 5,000 km/h or 3 months free of charge.
  • Dedicated After-Sales Service: Rely on Sales Advisors’ (SA) expertise for exceptional after-sales support.
  • Mobile Service – GAC Fast Care: Experience the convenience of mobile service, saving you time and effort.

How To Apply For The Polaris Auto loan

To apply for the Polaris Auto loan, follow these steps:

  • Visit the application form:
  • Fill in your details:
    • Do you have a Polaris Bank account? (Yes/No)
    • Employment Category: Salaried or Self-Employed
    • Employer Category: Federal Government, State Government, Multinational/Oil & Gas, Private Company, Other
    • Monthly Salary Range (Salaried): Choose from options
    • Monthly Credit Turnover (Self-Employed): Choose from options
    • Auto Loan Scheme: Polaris Auto Loan Scheme, Polaris x GAC Motors, Polaris x Elizade JAC Motors
    • Your Full Name
    • Phone Number
    • Email address
    • Location: Choose from the list
  • Then Submit the form.
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Polaris Salary Advance

With the Polaris Salary Advance, you can effortlessly overcome short-term financial gaps by accessing up to 50% of your next salary in advance. The process is swift and seamless, taking less than a minute to process and disburse funds using the convenient USSD code 83312#. Once disbursed, you can access the funds 24/7 through ATMs or your mobile device via VULTe and USSD.

Benefits Of The Polaris Salary Advance

  • Quick access to funds: Bridge the gap between paydays with swift access to funds, addressing your immediate financial needs.
  • 50% of monthly net income upfront: Benefit from accessing up to half of your monthly net income in advance, providing you with financial flexibility.
  • 24-hour loan processing time: Say goodbye to lengthy waiting periods as your loan gets processed within 24 hours, ensuring timely support.
  • No collateral required: Enjoy the ease of obtaining the Salary Advance without the need for collateral, streamlining the process.
  • Minimal documentation: Cut down on paperwork with minimal documentation requirements, simplifying the application process.
  • Competitive pricing: Experience competitive interest rates that make the Salary Advance a cost-effective solution.


To be eligible for this convenient financial solution, applicants must be employed by reputable organizations in both private and public sectors, with their salary account domiciled at Polaris Bank.

How To Apply For The Polaris Salary Advance

  • Dial *833*12# on your mobile phone, and within a minute, you can access the Payday loan/Salary Advance with ease.
  • Alternatively, visit the nearest Polaris Bank branch to complete a loan application form and submit it with the necessary documents.
  • For further assistance, you can contact Polaris Yes Center on 0700-7652747, 08069880000, 01-4482100, or 01-2705850, or contact your dedicated relationship officer.
  • You can also apply through VULTe.

Personal Term Loan

If you need financial support to fulfill your various aspirations and necessities, the Personal Term Loan is a perfect solution to address your diverse needs without any worries. Whether it’s medical bills, school fees, asset acquisition, or starting a small-scale business, You can get up to 70 million with a repayment plan that suits your convenience, spanning over 60 months.


  • Access up to 70 million: Access a substantial loan amount to cater to your diverse requirements.
  • Flexible and convenient monthly repayment: Enjoy the freedom of a repayment plan that suits your financial capabilities, spanning over 60 months.
  • Repayment from salary domiciliation or business proceeds: Simplify the loan repayment process by opting for automatic deductions from your salary or business earnings.
  • Competitive interest rate: Experience the advantage of competitive interest rates, ensuring your loan remains affordable.
  • No collateral required: Gain peace of mind with the Personal Term Loan, as no collateral is necessary to secure the loan.
  • Apply on VULTE: Embrace the convenience of applying for the loan online by clicking here and easily initiating your application.


To be eligible for this remarkable financial solution, you must be a confirmed staff member of a reputable private or public organization, with your salary domiciled at Polaris Bank.

How To Apply For The Personal Term Loan

  • Visit the nearest Polaris Bank branch to complete a loan application form.
  • Submit the duly completed loan form along with all the relevant loan documents.
  • Once your application is submitted, your loan will be processed and disbursed within 48 hours, ensuring swift access to your needed funds.

Frequently Asked Questions

How can I apply for the Polaris Auto Loan Scheme?

You can apply for the Polaris Auto Loan Scheme by visiting the provided application form link or by visiting the nearest Polaris Bank branch to complete a loan application form.

Is VULTe a loan app?

Yes, VULTe is a loan app. It is a digital bank by Polaris Bank that offers individuals and SMEs exciting products and features to improve their banking experience.

How long does it take to process and disburse the Personal Term Loan?

Once your loan application is submitted with all the necessary documents, the loan will be processed and disbursed within 48 hours, ensuring swift access to the funds you need.

What is the code for Polaris Bank borrowing money?

The code for Polaris Bank borrowing money directly is *833*12#. You can dial this code on your mobile phone to access the Polaris Bank payday loan service.

How long are Polaris loans?

The loan term for Polaris loans varies depending on the type of loan. For example, the Polaris Salary Advance has a loan term of 30 days, while the Polaris Personal Term Loan has a loan term of up to 36 months.


If you seek financial assistance from a reliable source, Polaris Bank offers various loan options tailored to suit your diverse needs. From the Polaris Auto Loan Scheme, enabling you to own your dream car easily; the Polaris Salary Advance providing quick access to funds to bridge short-term financial gaps; and the Personal Term Loan supporting various aspirations and necessities, Polaris Bank ensures a seamless borrowing experience. Borrowing money from Polaris Bank is straightforward and convenient, with competitive interest rates, flexible repayment plans, and minimal documentation requirements.