Amount 10000 - 5000000 ₦
Interest from 5 %
Loan term 30 days - 5 years
Processing time 5 minutes


Quick overview

✅ Amount: 10000 - 5000000 ₦
✅ Interest from: 5 %
✅ Loan term: 30 days - 5 years
✅ Processing time: 5 minutes
✅ Minimal applicant’s age: 18 years

If you get a loan of ₦500,000 with the term of 6 months, the fee will be ₦39,800 and your total payment will be ₦539800.

What Specta has to offer

Nigerian Sterling Bank offers a loan application called Specta. It offers Nigerian wage earners and company entrepreneurs certain financial facilities. By reviewing loan applications using standardized data processing methods and analytics and removing the challenges associated with the conventional lending system, it aims to give an easy way to obtain an instant loan and credits.

You can apply for loans up to N5,000,000 through Specta Loan without providing any documentation or security, and you'll have the money in five minutes. It is a popular loan product in Nigeria because of its attribute.

The Specta loan has a moderate interest rate of 5% with no additional processing fees depending on the loan tenure and the amount borrowed. The amount you can receive varies between ₦10,000 and ₦5,000,000 and you can repay within six months. The processing time is immediate, taking up to 5 minutes to get the loan.

Loan requirements

Specta loan is licensed under the Money Lenders Law. They do not require collateral from borrowers, but they have some strict criteria that you need to meet to qualify for a loan. Here are some requirements you need to consider:

  • You have to be at least 18 years old
  • You must have a bank account with BVN
  • You must live in Nigeria
  • You must have the mobile app

Specta loan review conclusion

There are many reviews on the Specta loan platform. The rating of the Specta mobile loan on Google play is 2.6/5.0. This means that users are not satisfied with the loan lending app and that it might be better to obtain the loan from the website. The Sterling bank specta loan is available to students, employed individuals, and business owners. Because you have access to the sterling loan in 5 minutes, it can be considered an emergency loan.

What is your experience with this loan provider?

Truted app and loan provider. Bank.
Reviewed 09. 19. 2022