Sterling Bank Specta Loan – Eligibility and How to Apply

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The Sterling Bank Specta Loan is one of the best loan services in Nigeria. It offers financing to profiled Nigerian company owners and salaried employees. It aims to make it easier to obtain an instant loan and credit by utilizing standardized data processing techniques and analytics to analyze loan applications and reduce the problems associated with the existing lending system.

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You can get a loan up to N5,000,000 from Specta Loan without any documentation or security, and you’ll have the money in five minutes. Because of this characteristic, it is a top loan product in Nigeria.

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Specta Loan Interest Rate and Repayment

The interest rate on a Specta Loan is largely driven by the loan package you choose. They do, however, vary from 20% to 30% every year. Repayment is also based on the package you select, with a duration of 1–4 years.

You can set up a monthly payback plan to pay back at your leisure. In addition, the following costs are payable on all loans.

  • Management fee (maximum 1%)
  • Commitment fee (Maximum 1%)
  • Insurance fee (1% flat on salary advance and personal loans)
  • Household/ Asset acquisition (7% flat)
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Loan packages They Offer

  1. Specta Xtreme: This package needs no profiling and is open to salary earners and business owners. It offers up to 2 million with a maximum tenor of one year.
  2. Specta Basic: This package is open to only business owners who have a Sterling bank account and salaried employees (regardless of their bank). It offers up to 5 million with a maximum tenor of 4 years and flexible interest rates.
  3. Specta Prime: This package allows you to earn money on your investments while you lend for urgent needs. You can borrow in the following currencies; Dollars, Naira, Euro, and Pounds.
  4. Specta Allawee: Youth corp members are not left out as this package enables corpers to access funds to expand and develop their entrepreneurial dreams.
  5. Specta Quick Cash: This loan package is open to everyone irrespective of their banks. It offers up to N20,000 quick cash to individuals based on their transaction history and social media reputation.

Specta also offers loans for businesses under the loan package Specta4Business, and this offer is available to small, medium, and large enterprises.

Sterling Bank Specta Loan – The Requirements Needed

The Sterling Bank Specta loan package you choose determines the condition, but generally, you will need

  • A bank account number(sometimes they accept only sterling accounts)
  • Bank Verification Number 
  • A valid means of identification
  • valid email address

How to Apply for a Sterling Bank Specta Loan

To apply for a Sterling Bank Specta loan, follow these steps:

  1. Request to get profiled either as an individual or a business by sending an email to Specta
  2. Download the Sterling OneBank app from the Google Play Store or from the App Store
  3. On the homepage, click on Investment and loan
  4. Select the loan package that you find suitable
  5. Begin the application by clicking on the loan offer
  6. Fill out the application form and submit
  7. If you are eligible and the application is successful, they would credit your account immediately.


Sterling Bank’s Specta Loan is only one of several sites in Nigeria for obtaining quick internet loans. We believe it is too expensive, with interest rates ranging from 20 to 30%. You might look into alternative loan providers for lower interest rates. You can contact their customer support at 017004271 for further details.