A 2.8-dB polarization squeezing of the Stokes operatorS^for the rubidium D line (795 nm) is achieved, with the lowest squeezing band at an audio frequency of 2.6 kHz. It is synthetized by a bright coherent beam and a squeezed vacuum, which are orthogonally polarized and share same frequency. Two methods are applied to support the optical parametric oscillator: an orthogonally-polarized locking beam that precludes residual unwanted interference and quantum noise locking method that locks the squeezing phase. Besides, the usage of low noise balanced detector, mode cleaner and the optical isolator helped to improve the audio frequency detection. The squeezing level is limited by absorption-induced losses at short wavelengths, which is 397.5 nm. The generated polarization squeezed light can be used in a quantum enhanced magnetometer to increase the measurement sensitivity.