Polaris Bank introduces target savings account

Polaris Bank has launched the ‘Polaris Target Savings Account’ to help Nigerians imbibe a healthy savings culture as a means of building a strong financial base.

The bank, in a statement released at the weekend quoting its Group Head, Products and Market Development, Mrs Adebimpe Ihekuna said, “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 reality, 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.

“Polaris Target Savings Account can be adopted by individuals – men, women, young adults and children”, she added.

She said the product offers a flexible tenor and competitive interest rate.”