Specta Loan Review: Everything you need to know

Specta Loan Review: Everything you need to know

specta loan by sterling bank logo Specta loan is a lending product by Sterling Bank. The loans offered by Specta are personal loans, salary advance loans and Business loans. You can use a Specta loan for any personal situation. You can get a Specta loan are within 5 minutes of applying for the loan. You can access up to N5,000.000 loan from Specta

Specta Loan Review


4.0 Koboline Rating

Specta loan gets 3.8 out of 5  for overall performance. Specta loan is only available on an Andriod app. to get a Specta loan you’ll need a bank account number, BVN, a valid means of identification and an email address. Specta loan interest rates are between  20% – 30% per annum with a loan tenure of 1 to 4 years.

Ratings at Koboline are determined by taking into account pricing, discounts, ease of use/filing a claim, website transparency, Appstore data, financial strength, and complaint data from social media.

Specta Loan Interest Rate, Repayment plan and fees

The loan package you choose will determine the interest rate of your Specta loan. However, Specta loan interest rates are usually from 20%-30% per annum.

Your loan package also determines repayment duration However it is usually a tenor of 1-4 years.

Witha Specta loan you can also set up a monthly repayment plan. That allows you to pay at your own convenience . 


Some fees also come with getting a Specta loan. These are fees you’ll be charged for getting a Specta loan. Management fee (maximum 1%)

  • Commitment fee (Maximum 1%)
  • Insurance fee (1% flat on salary advance and personal loans)
  • Household/ Asset acquisition (7% flat)

Applying for a loan through Specta Loan App

specta loan app review

You can apply for a Specta loan app through Specta’s website or Android app. However, the app has a low rating of 2.6/5.0. So you might be better off applying for a Specta loan through its website.

To apply for a Specta loan, there are certain requirements you need. The requirements you’ll need are:  A bank account number(sometimes only Sterling is accepted), Bank Verification Number and A valid means of identification and a valid email address

If you have all these requirements then you can go ahead  and apply for a Specta loan through its website or app  by following these steps;

  1. Select the loan package you want
  2. Click on the loan offer
  3. Fill out the application form and submit
  4. If your application is successful, your account will be credited immediately.

Specta Loan App Packages

These are the Loan packages Specta offer:

  1. Specta Xtreme: Loans for salary earners and business owners. This Specta loan package offers loans of up to 2 million with a maximum tenor of one year.
  2. Specta Basic: For business owners who own a Sterling bank account and for salaried employees (regardless of their bank). This Specta loan package offers loans of up 5 million with a maximum tenor of 4 years.
  3. Specta Prime: You can borrow in the following currencies with this loan package ; Dollars, Naira, Euro and Pounds.
  4. Specta Allawee: For youth corpers.
  5. Specta Quick Cash:  A loan package for anyone (Any bank account is allowed). Access up-to N20,000 quick cash loan.
  6. Specta4Business: Business loans for small, medium and large enterprises. 

Specta Loan customer care.

To find out more information about Specta loans, you can call their customer care on this number 017004271.

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