How to apply for Polaris Bank Salary Advance loan

Banking & Finance

Polaris Salary Advance is a lending option for salaried individuals (both Polaris account holders and non-account holders). The loan provides a straightforward and accessible way for clients to meet their urgent financial requirements, while also servicing identified new markets.
Workers in private employment, corporate Nigeria, and governmental officials in state and federal government have all profited enormously from the Bank’s facility offered long before they receive their income.
The quick digital loan product is available to salaried individuals who fulfill the Bank’s Risk Acceptance Criteria (RAC). The loan term is 30 days. Monthly renewable. Borrowers may obtain up to 50% of their net monthly pay in advance.

Additionally, read Polaris Bank’s Payday Loan Requirements and Application Process.

This is a payday loan with the additional feature of allowing non-account holders to get rapid money with the same simplicity and speed as Bank clients.



Using the USSD code, the loan is processed and disbursed in less than one minute. Access to disbursed money is available 24 hours a day, 7 days a week, through ATM or mobile device using our USSD, PolarisMobile, or Polaris eXperience.

The Salary Advance is a modest, unsecured loan for a limited period of time that is based on the borrower’s past payroll and job data. As a recipient of a Salary Advance, you return it either with your next salary or over an agreed-upon time period.

What factors may impact my eligibility?

Any of the following will influence your eligibility:

If you owe money to Polaris Bank or any other bank.

If you submit an application using a phone number that is not associated with your BVN.

If there is no indication that you were paid in the prior month’s salary.

If you have previously accepted a digital loan and exceeded the maximum amount permitted.

If you already have a loan and the monthly payment exceeds your qualifying amount.


1.Salary must be deposited in a Polaris Bank account.

2. Credit life insurance protects the Borrower against the possibility of death, incapacity, or job loss.

3. Undertaking to deduct repayments from employees’ salaries and remit them to the Bank.


1% flat


0.5 percent unchanged


Monthly salary payments made to the Lender or any BVN-linked accounts in any bank payable via remittance from the source.

Rates of interest

The facility’s interest rate is set at 2.5 percent flat and is subject to periodic revision in accordance with the current money market conditions.

How to Make a Salary Advance Application

To apply for a Polaris bank salary advance, both account holders and non-account holders are welcome to do so. Simply establish an Internet Banking session.


To apply, dial *833*12# USSD Smartcode platform.


Visit any “VULTe” mobile application.


Additionally, you may visit any branch that is convenient to your area.



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