How To Open a Polaris Bank Nigeria Fixed Deposit Account – Polaris bank, Polaris Wise investment account is a 3-in-1 high-yield saving account that combines the features of a savings, current, and fixed deposit account. It encourages you to save more to earn more.
This account gives you an opportunity to place your money in an investment, earn interest on it and use it when needed. Plus, it’s one of the safest ways to invest your money, so you don’t have to worry about losing your initial deposit or losing money because of market fluctuations as you would with most other investment opportunities. This guide will help you learn how to open a Polaris Bank Nigeria Fixed Deposit Account so you can make the most of this type of investment opportunity.
What Is A Fixed Deposit Account?
A fixed deposit is a type of savings account where you agree to keep your money in the account for a set period of time, usually between one and five years. In return, the bank agrees to pay you a higher interest rate than what you’d earn on a regular savings account.
The main benefit of a fixed deposit is that it offers guaranteed returns. This can be helpful if you’re saving for a specific goal, such as buying a house or paying for your child’s education.
Types of Fixed Deposit Accounts
There are many types of FDs available at Polaris Bank Nigeria, each with different features and benefits. You can choose from a regular FD, which offers a fixed interest rate for the term of the deposit, or a special FD, which offers a higher interest rate for a set period of time. You can also choose from a short-term or long-term FD. Short-term deposits earn more in interest but they have a lower minimum balance requirement. Long-term deposits require a higher minimum balance but they have lower monthly fees and offer competitive rates on your account balance. Opening a Polaris Bank Nigeria Fixed Deposit Account
Requirements for opening a Fixed Deposit account with Polaris Bank
A prospective customer must have a minimum deposit of N10,000 to open an FD account with Polaris Bank. There are no maximum deposit limits. The account can be opened in any of the currencies offered by the bank including the Naira. The following documents are required when opening an FD account: a duly completed application form, a Bank Verification Number (BVN), a valid means of identification (e.g. international passport, driver’s license, national ID card), and proof of current address (e.g. utility bill). An account can be opened in the bank’s headquarters or at any of its branches nationwide. Opening a new account is fast and simple!
Best Expected Interest Rates For Fixed Deposit Accounts with Polaris Bank
Polaris Bank Nigeria offers some of the best interest rates for Fixed Deposit accounts in the country. You can earn up to 9% on your account balance, depending on the amount you deposit and the term of your investment.
To open a Fixed Deposit account with Polaris Bank, simply visit any of their branches nationwide and fill out the necessary paperwork. You’ll need to have your ID and proof of address handy. Opening a fixed deposit account is quick and easy at Polaris Bank Nigeria. All you have to do is provide them with your ID card and proof of address, select the amount that you would like to invest, and decide how long you want it to be locked away.
Opening a Deposits Account with Polaris Bank
Deposits held in a fixed deposit account with Polaris Bank earn higher interest rates than those held in a savings account. You can open a fixed deposit account with as little as N10,000. To open an account, visit any of our branches nationwide and request for an application form. Fill out the form and submit it to the teller with your initial deposit. The teller will process your request and give you a receipt for your deposit.
For more information please click to visit the Polaris Bank Nigeria Fixed Deposit Account webpage.