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Polaris Bank introduces salary advance feature

Polaris Bank introduces salary advance feature
February 23
11:43 2021

Polaris Bank has announced a salary advance product for customers and non-customers to access funds for urgent financial needs.

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In a statement on Monday, the bank said interested parties can access 50 percent of their net monthly salary before their next pay day.

“Polaris salary advance is a readily available, convenient, and accessible solution to customers’ immediate financial needs, as long as you are a salary earner. It doesn’t matter whether or not you have an account with Polaris Bank or not,” the statement read.

“You can get up to 50 percent of net monthly salary in advance over a tenure of 30 days renewable monthly. No collateral required and it is available for employees or persons with assured income.”

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To access the loan, interested parties must be an employee who earns a salary or have assured/regular income.

Explaining the process of applying for the loan, the individual is required to dial *833*12# after which the eligibility and amount accessible pops up on the mobile phone screen; and applicant’s account gets credited.

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