Sterling Bank Specta Loan Review & Requirements: Is Specta Loan Legit & Still Available?

specta loan review

Last Updated on July 3, 2023

Are you in need of a quick and reliable loan solution? Look no further than Sterling Bank’s Specta Loan!

In this comprehensive review, we’ll delve into the details of Specta Loan, examining its legitimacy, availability, and requirements.

Whether you’re looking to fund a personal project, cover an unexpected expense, or consolidate your debts, Specta Loan offers a seamless borrowing experience.

Join us as we explore the features, benefits, and eligibility criteria of this popular loan option. Say goodbye to lengthy approval processes and hello to financial convenience with Sterling Bank’s Specta Loan

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 or even for your business. You can get a loan from Specta within 5 minutes of applying for a loan.

You can access up to N5,000,000 loan from Specta.

Is Specta Loan Still Available & Legit?

Yes. The Sterling bank Specta loan is still very much available to Nigerians who are looking for instant online loan options.

Sterling Bank Specta Loan Review

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3.8 Koboline Rating

Specta loan gets 3.8 out of 5  for overall performance. Specta 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. The interest rates on loans from specta 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 & Fees

specta loan review nigeria

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


Your loan package also determines repayment duration.

But it is usually a tenor of 1-4 years.

You can also set up a monthly repayment plan on the Specta app that allows you to pay at your own convenience and your own pace as long as you pay on time.

Borrowing money on the Specta platform also means you’ll have to pay certain fees.

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)

Also See: How to get a Loan from GTBank

Specta Loan Requirements

specta loan app review

You can apply for a 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 loan from Specta, there are certain requirements you need to meet. The requirements for a Specta loan are:

  • A bank account number(sometimes only Sterling is accepted)
  • Bank Verification Number
  • A valid means of identification and a valid email address

How to Apply for a Loan from Specta

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:

Specta Xtreme

Loans for salary earners and business owners. This Specta Xtreme package offers loans od up to 2 million with a maximum tenor of one year.

Specta Basic

For business owners who own a Sterling bank account and for salaried employees (regardless of their bank).

This loan package offers loans of up 5 million with a maximum tenor of 4 years.

Specta Prime

This is a loan package that allows you to borrow in different currencies. The currencies you can borrow in with this loan package are Dollars, Naira, Euro and Pounds.

Specta Allawee

Specta loan package is dedicated to youth corpers (NYSC) in Nigeria.

Specta Quick Cash 

A loan package for anyone who lives in Nigeria (Any bank account is allowed).

Access up to N20,000 quick cash loan with Specta quick cash


Specta4Business is a business loan package for small, medium and even large enterprises.

Specta Loan Customer Care

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

Specta Loan Review

To get a Specta loan you’ll need a bank account number, BVN, a valid means of identification and an email address. The interest rates on loans from specta are between 20% – 30% per annum with a loan tenure of 1 to 4 years.

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