All You Need To Know About Specta Loan by Sterling Bank

Here you will get all You Need To Know About Specta Loan by Sterling Bank. Sterling Bank has a loan app called Specta in Nigeria. It offers lending facilities to Nigerian salary earners and business owners that fit certain profiles.

By reviewing loan applications through standard data processing methods and analytics, aims to remove the challenges associated with the old lending system and provide a more easy way to receive quick financing.

Specta Loan allows you a chance to loan up to N5,000,000 with no paperwork or security, and you can get the funds within five minutes. It is a top lending product in Nigeria because of its features.

The portal is available across the country and provides loans to anybody earning an income, regardless of their line of work. It offers asset acquisition, salary advances, and personal loans for things like rent, schooling, weddings, and medical expenses. It is crucial to remember that you need to be a member of an organization in order to qualify for a Specta loan.

Interest Rate and Repayment for Specta Loans

The Specta Loan by Sterling Bank plan you choose will have a major impact on the interest rates on your Specta Loan. They do, however, vary from 20% to 30% annually.

Repayment terms range from one to four years, and they also depend on the deal you choose.

To allow you to repay at your convenience, you can arrange a monthly repayment schedule. Additionally, all loans are subject to the following costs;

•       Maximum 1% as a management fee

•       Fee for commitment (maximum 1%)

•       Insurance premium (1% fixed on personal loans and wage advances)

  • Household/Asset Purchase (7% fixed).

About Specta Loan by Sterling Bank

Only Android-powered smartphones can download the app from the Google Play Store, where it has a meager 2.6 out of 5 star rating. This could indicate that people are not totally happy with the app’s features, in which case you might be better off using the website to apply for loans.

Specta Loan Packages

  1. Specta Allawee: This package allows corpers to access cash to explore and develop their business aspirations, so youth corpers aren’t left behind.
  2. Specta Basic: Only company owners with paid workers and a Sterling bank account are eligible for this package (irrespective of their bank). It provides adjustable interest rates and up to 5 million with no more than a tenure of four years.
  3. Specta Prime: With this package, you can invest and profit while providing loans for immediate necessities. The following currencies are available for borrowing: dollars, naira, euros, and pounds.
  4. Specta Quick Cash: This funding program is available to all borrowers, regardless of their bank. Individuals might receive up to N20,000 in rapid cash depending on their social media reputation and transaction history.
  5. Specta Xtreme: This offer is available to both salary employees and business owners and does not require profiling. It provides a maximum duration of one year and up to two million.

Additionally, businesses of all sizes can apply for loans from Specta under the Specta4Business loan package.

Specta Loan by Sterling Bank Application Requirements

The Specta Loan by Sterling Bank package you opt for dictates the requirements, however normally, you will need

  1. Your bank account number (in some instances they approve only sterling accounts)
  2. Your Bank Verification Number
  3. A reliable method of identity
  4. A working email address

How To Apply For Specta Loan by Sterling Bank

If you want to apply for a loan with Specta, follow the following steps.

  1. Send an email to Specta requesting to be highlighted as a business or as a person.
  2. Choose the loan package that best suits your needs.
  3. Click the loan offer to start the application process.
  4. Complete the application and send it in.
  5. They would instantly credit your account if your application is accepted and you are qualified.


One of the many websites in Nigeria offering quick online loans is Specta Sterling Bank Loan. We believe that the interest rate, which is between twenty and thirty percent, is too high.

For an app that is meant to fulfill all of your lending requirements, 2.6 stars is a really low rating on the Google Play Store. Therefore, you may want to check out their website if you really want to give Specta Loan a try.

You can give their customer service department a call at 017004271 to learn more.

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