Polaris Business Account – Savings

Are you saving in the short term to place orders for a supply or you intend to save over a longer period to fund future projects or ventures? Then Polaris Business Savings Account is the right solution for you.

Earn attractive interests whilst retaining the flexible option to make withdrawals with ease.

Product Features and Benefits
  • Minimum opening and operating balance of N10,000
  • Polaris Business Sales ledger is available
  • Non-clearing cheque book
  • No charges on account turnovers
  • Interest bearing at Standard savings interest rate
  • Maximum of 3 withdrawals monthly or interest is forfeited
  • 3rd party transfers are not allowed on the account
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)

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