Loans for Parents and Teachers

Polaris Bank also offers a range of retail loans to address the funding needs of parents and teachers to pay school fees and also for teachers to bridge working capital against their salaries. The following are the retail loans and their features:

Education Loan

This can be used by parents who work in well-structured organizations to pay school fees.

Features:

  • Maximum loan amount of N5million.
  • Maximum facility tenor of 12 months.
  • Pricing is highly competitive.
  • Repayment shall be from salary domiciliation.
Salary Advance

This can be used by teachers to bridge personal funding gap against next pay day.

Features:

  • Maximum loan amount of 70% of monthly net income.
  • Maximum facility tenor of 30 days.
  • Pricing is highly competitive.
  • Repayment shall be from salary domiciliation.

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