By Editor
Polaris Bank has launched ‘Polaris Target Savings Account’ to help
Nigerians imbibe healthy savings culture as a means to building a strong
financial base.
The Bank in a statement released at the weekend quoting its Group
Head, Products & Market
Development, Mrs Adebimpe Ihekuna said “The
savings culture is gradually going into extinction as people generally
spend than save, hence the launch of the target savings account to help
Nigerians save for a better tommorrow.
“We recognize that there is never going to be enough money to save.
That is what one must first accept – but the need to develop the habit
of savings is as important as life in itself. A salary increase for most
people will not necessarily get them to save more. Your children
finishing school, will not get you to save more. A bigger client for
your business will not get you to save more. Getting older, will not
enable you to save more. Paying off your mortgage and other debts, will
not get you to save more. All these are excuses not to start SAVING
TODAY. If you are not saving with what you have today, chances are you
might not save when you have more money,” Mrs. Ihekuna said
Elaborating further, the banker said: “It’s simply because we seem
not have inculcated the culture of savings. One of the definitions we
found describes culture, as a way of thinking and behaving in a society.
In our own words – Anything done consistently becomes a habit; a habit
done over and over, becomes a way of life i.e. culture. If we look at
our society, we have a spending culture as opposed to a savings culture.
This is why most often, a bigger salary means more spending; while we
often assume, albeit erroneously, that we will invest or save more when
we earn higher income. In ireality, the world is never going to run out
of things one can buy. You may think you have the latest asset today,
and a month later, another model or upgraded version of it will be
there.”
“The good news is that it is never too late to start saving.
Nigerians who want to take up the challenge and begin to save for
specific goals for the future, no matter how small, can now do so with
ease, through the Polaris Target Savings account. The product was
designed to help customers plan and achieve their set financial
targets”.
According to the Group Head, the Target Savings Account is open to all customers, Polaris and non-Polaris account holders.
“Polaris Target Savings account can be adopted by individuals – men, women, young adults and Children”, she added.
The product offers flexible tenor and competitive interest rate.
Other benefits include opportunity to get soft loans against savings,
Advisory and financial coaching services, etc”.
‘’The Polaris Target Savings Account is easy to use; customers can
deposit daily, weekly, monthly or quarterly earnings, through online
direct deposits, standing order instructions or mobile and internet
banking platforms.
The account can be linked to existing Polaris Bank accounts.
Customers can sign up through the Bank’s mobile or internet banking
platforms, and at all Polaris Bank branches nationwide.”
Accessibility is simple and swift. Customers can create their own
target savings from their devices by
visiting https://accounts.polarisbanklimited.com/opening/ to open an
account within a few minutes or visit the Bank’s
website www.polarisbanklimited.com for additional information on the
product.
Polaris Bank is a future-determining Bank committed to the delivery
of industry-defining products, and services across all sectors of the
Nigerian economy.
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