Polaris Business Account – Current

Polaris Business account is specially developed to cater to the banking needs of all SMEs providing the opportunity to find the right business solution and platform to nurture their business for growth.

The account offers a wide range of exceptional value offerings and flexibility catering to all business types with CAC registration to include Enterprise, Business Ventures, Limited Liability Companies, Sole proprietorship, with CAC registration etc.), Churches, Clubs/Association, Cooperative Societies, Charities and other Not-For-Profit Organizations

Go to App Stores to download PolarisXperience.

Product Features and Benefits
  • Account opening balance of N10,000
  • Zero minimum operating Balance
  • Availability of Cheque book
  • Master debit card is available for Sole signatories
  • Free Polaris business Sales record book
  • Free/Discounted Invitation to sector- specific business seminars
  • Access to personal loans for employees*
  • Access to CBN/BOI loans at single digit interest rates*
  • Easy access to working capital finance of up to N5 Million with flexible collateral option
  • Dedicated Relationship Manager
  • Account maintenance fee of N1 per mille applies on all debit transaction
  • Access to Internet banking, transaction alert, and e-statement
  • Free enlistment for female Entrepreneur on Polaris Pearl
Account Opening Documentation
Limited Liability Companies
  • Duly completed account opening application form.
  • Two suitable reference
  • Board resolution to open account.
  • Two (2) recent identical passport photographs of each signatory.
  • Certified True Copy of Certificate of Incorporation/Registration of Business Name
  • Certified True Copy of Memorandum and Article of Association.
  • Certified True Copy of form C07/CAC7 (particulars of Directors) and C02/CAC2 (Allotment of stares).
  • Residence permit issued by the Immigration Authorities (Expatriates).
  • Valid Primary means of identification
  • Current utility bill (not more than 3 months)
  • Premises visitation Report
  • Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Non Financial Businesses and Professionals (DNFBP)- Where applicable
  • Tax Identification Number (TIN)
  • Legal Search Report
  • BVN details required
Registered Business Names
  • Duly completed account opening application form
  • Two (2) recent identical passport photographs of each signatory
  • Two (2) suitable reference forms
  • Certified True Copy of certificate of registration of Business Name
  • Copy of application forms for Registration of Business Name
  • Legal Search report
  • Valid Primary means of identification
  • Current utility bill (not more than 3 months)
  • Residence permit issued by the immigration Authorities (Expatriates).
  • Premises visitation report
  • Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Nonfinancial Businesses and Professionals (DNFBP)- Where applicable
Registered Trustees/Associations/Societies/Clubs and Other Non-Profit making Organizations (NGOs)
  • Duly completed account opening application form
  • Two (2) suitable references
  • Two (2) recent identical passport photographs of all signatories
  • Valid means of identification of all signatories
  • Copy of the constitution
  • Copy of Rules and Regulations/Bye Laws (where applicable)
  • Resident permit issued by the Immigration Authorities (Expatriates)
  • Copy of Certificate of Registration.
  • Letter of Resolution by the Board of Trustees to open account or Copy of recently adopted minutes of meeting
  • Premises visitation report
  • Power of Attorney (where applicable)
  • Current utility bill (not more than 3 months)

Download PolarisXperience or PolarisMobile from the App Stores.


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