How to Get a Loan from Polaris Bank in 2023


How to Get a Loan from Polaris Bank in 2023

Polaris Bank Limited, which was formerly known as Skye Bank is a Commercial Bank in Nigeria. The bank, which was also formerly a bridge bank, is now privately owned by strategic capital investment limited (S.C.I.L.). Polaris bank limited offers a wide variety of financial products amongst which is the loan/credit financing.

We cannot over emphasize the benefits of loans to MSME’s and large institutions as it can help in facility financing, employee compensation, debts offsetting and many more.


As a financial instituion, PolarisBank offers differnt loan packages. These loan packages include:


This loan gives you access to loan in a jiffy. You can access up to 50% of your monthly net salary and its deducted on your pay day. You can access this offer either by dialing *833*12# on your mobile phone or using the VULTe application.

2. Personal Term Loans

This loan is given to individuals to meet needs at their convenience. It helps you meet varying personal needs regardless of what it is. The major criterion to meet this loan is for you to be a confirmed staff of a reputable public or private organization with a domiciled account with Polaris bank. You can check your eligibility and loan offer by using the VULTe application.

Read: How to Get a Loan from First Bank of Nigeria in 2023

3. Auto Loans 

Polaris bank provides loans to finance vehicle purchase. Brands like GAC and Elizade JAC have made vehicle purchase affordable over a specified period. This offer is open to Polaris and non-polaris account holders.

For GAC vehicles;  Available models: GA4, GS3, GS4, GS8 And GN8


·         Interest Rate:0% P.A. For First 4 Months, 25% P.A. In The Subsequent 56 Months

·         Management Fee:1% Flat

·         Auto Insurance:5%

Equity Contribution - 0%

Tenure - 60 Months 

Additional Benefits

·         5 Year Warranty

·         Free Car Registration

·         GAC Motor Gift Box/Starter Kit

·         FREE First Check & First Service At 5,000 Km/H Or 3 Months

·         Dedicated After Sales Service (SA – Sales Advisors)

·         Mobile Service - GAC Fast Care

For Elizade JAC motors

Models: JS3 Luxury, JS4 Luxury, JS4 Flagship, J7 Luxury, J7 Flagship, JS6 And T8 Pro

Target: Salaried Employees & Self-Employed Customers With Verifiable Source Of Income


·         Interest Rate: 0% P.A. For First 4 Months, 25% P.A. In The Subsequent 56 Months

·         Management Fee: 1% Flat

·         Auto Insurance: 5%


With an equity Contribution of 0%, this loan has a tenure of 60 months. In additional benefits for this loan, you will get a five year warranty Or 150,000km. You also get a free Car Registration, driver Training On Special Techniques For Vehicle Maintenance
·         FREE - First Check 
·         Free Accessories - Fire Extinguisher, Foot Mats
·         1-Year Free Service

To apply for this, visit any Polaris bank branch close to you. 


Read: 5 Recommended Mobile Apps for Baby Investors in 2023



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