How to Apply for Polaris Bank's Loan Offers for SMEs and Salary

Polaris Bank Limited’s digital bank-VULTe has demonstrated its support for small and medium enterprises (SMEs) by further simplifying the process of accessing not less than four types of loans.

The digital bank has stated that SME entrepreneurs could access over N100 million through several loans to fund their businesses by following few seamless automated steps.

According to the bank, VULTe, which has won several awards for its tech-edge solution, offers individuals and SMEs products and features to improve their banking experience.

Table of Contents

Categories of Loans for SMEs and Individuals

Term Loan

Under its term loan, SMEs can access up to N20 million to expand their businesses and spread payment over some 24 months with a competitive interest rate.

Bank Overdraft SME Loans

The bank’s overdraft also allows SMEs to overdraw their account up to N20 million to take care of business emergencies while the auto loan enables individuals and SMEs to purchase cars under amenable terms.

Salary Advance for Salary Earners

Also, the bank’s salary advance allows salary earners to attend to needs that could not wait till payday, structured individually or together at corporate level.

Polaris Lite

The bank’s Polaris Lite Loans provide access to quick funding to take care of personal needs such as medical bills, school fees and other emergencies that need less time for meeting up.

Benefits of the Loan Offerings

According to the bank, VULTe is available to new and existing customers, the seamless process requires no bank visit to start and complete transactions on VULTe, there is absolutely no collateral needed, no paperwork is needed, convenient to use on all devices while applicants can apply for loans on their mobile devices and get approval in minutes.