Sterling Bank Specta Loan Review: Interest Rates, Requirements, More

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In this post, we share with you Sterling Bank’s Specta Loan Review. It contains everything you’ll like to learn about the loan before you go for it.

Specta is a popular online lending platform that provides personal and business loans to eligible individuals and businesses in Nigeria.

They offers quick and convenient loan options without paperworks and comes with competitive interest rates. They are a good option for people who are looking for quick access to funds for their business startups and personal or domestic needs.

Features and Benefits

Specta offers several unique features and benefits to its customers. Some of the most notable benefits include:

  1. Quick loan disbursals: Specta provides quick loan service for individuals within 5 minutes or less.
  2. Minimal documentation: The platform requires minimal documentation, making the loan application process quick and easy.
  3. Competitive interest rates: Specta offers competitive interest rates, which can be customized based on the borrower’s credit score and loan amount.
  4. Flexible repayment options: Sterling’s Specta provides flexible repayment options, including monthly, bi-monthly, and weekly repayments, to suit the borrower’s needs.
  5. User-friendly platform: Specta’s platform is user-friendly and intuitive, making it easy to apply for a loan and manage your account.

Specta Loan Interest Rates and Repayment Options

Specta offers unsecured personal loans at interest rates that are based on the borrower’s credit score, loan amount, and repayment period.

The interest rate starts from 25% per annum and can go up to 28% per annum, depending on the borrower’s profile. The platform also offers flexible repayment options, including monthly, bi-monthly, and weekly repayments, to suit the borrower’s needs.

How to Apply for Sterling Bank Specta Loan

Applying for a Specta loan is quick and easy. Simply follow these steps:

  1. Visit the Specta website and create an account.
  2. Fill out the loan application form with your personal and financial details.
  3. Upload the required documents.
  4. Wait for loan approval.
  5. Once your loan is approved, the funds will be disbursed to your bank account within 24 hours.

Customer Reviews and Ratings

Specta by Sterling Bank has received positive reviews from its customers, with many praising its quick loan disbursals, minimal documentation, and flexible repayment options.

The platform has a 4.5-star rating on Google Play and a 4-star rating on the App Store, with customers praising its user-friendly interface and helpful customer support.

Specta Loan Requirements

To be eligible for a Specta loan, you need to be a Nigerian or a legal resident of Nigeria. Also, you must have a minimum a source of income to pay back your loan. You also need to be between 18 and 55 years of age and have a good credit score.


Specta is an excellent option for individuals who are looking for quick access to funds for their personal or business needs.

With its quick loan disbursals, minimal documentation, and competitive interest rates, they are a convenient and cost-effective option for borrowers.

However, before applying for the Sterling Bank Specta loan, be sure to carefully consider your financial situation and ensure that you are able to repay the loan on time.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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