How To Loan Money From Specta Loan (Simple Steps!)

Specta Loan is one of the online lending platforms in Nigeria. It is a subsidiary founded by Sterling Bank. It offers loans of up to N5 million in a single transaction without the need for paperwork, collateral, guarantors, or even a visit to a physical office.

Specta Loans cater to Nigerians’ personal and business needs 24/7. Specta services include:

● Specta4Individuals (For salary and non-salary earners)

● Specta4Business

● PaywithSpecta

● Ultra Credit Card

● Specta Score

● Specta Prime

How To Loan Money On Specta Loan

Take the following steps to apply for a Specta loan:

  1. Log on to the Specta website at
  2. Carefully read through available loan packages
  3. Select a suitable loan package that meets your needs
  4. Click on the loan offer
  5. Fill out the application offered by providing all required details
  6. Submit your loan application
  7. If your application is successful, you will receive the loan amount directly into your bank account.

Specta Loan Requirements

Specta loan requirements are dependent on the loan package you’re requesting for. However, these are the general requirements:

● A valid means of identification

● A valid account number (In some cases, only Sterling bank accounts are allowed)

● A valid bank verification Number (BVN)

● A valid email address

● A Twitter, Facebook, or LinkedIn account (For social loans)

How Much Can I Get From Specta Loan

You can get up to N5 million on Specta. However, the Specta Loan available to you depends on your chosen loan package. Loan packages offered by Specta include:

●       Specta Quick Cash: This package can be accessed by everyone regardless of the bank used. It offers up to N20,000 to individuals based on their social media reputation and bank transaction history.

●       Specta Basic: This package is catered towards salary earners regardless of the bank they use and business owners who have a sterling bank account. This package offers as much as N5 million with flexible interest rates and a loan term of up to 4 years.

●       Specta Allawee: This package is designed for Youth Corp members to grant them access to finances to expand and develop their ambitions.

●       Specta Xtreme: This package does not require profiling. Salary earners and business owners can access it. Loan amounts can be up to N2 million with a loan term of one year.

●       Specta Prime: This package allows users to earn money on their investments while they lend money for (urgent) needs. You can borrow in Dollars, Pounds, Euros, and Naira.

●       Specta4Businesses: This package is open to business enterprises of all sizes.

Specta Loan Interest Rate

Specta loan interest rates vary depending on loan package and loan duration. Generally, the interest rates are between 25.5% and 28.5%.

Specta Loan users may be required to make one-time interest payments for insurance and 1% for loan management fees. If you default on your payment by the due date, you will be charged a 1% penalty fee.

The following fees are charged on all Specta Loans:

● Household/Asset acquisition (7% flat)

● Commitment fee (1% maximum)

● Insurance fee (1% on personal loans and flat on salary advance)

● Management fee (1% maximum)

Specta Loan Term

Specta Loan terms are flexible, usually within 1- 12 months and up to 4 years, depending on loan amount and type. Users can set repayment schedules to their preference.

How To Repay Specta Loan

Specta loans can only be deducted from your bank account on the due date.

Specta Loan Head Office

Specta Loan Head Office is situated at Sterling Towers, 20 Marina, Lagos Island, Lagos.

Specta Loan Customer Care

In case of inquiries, requests, or complaints, you can contact Specta loan customer care through:


Hotline: 017004271

Phone number: 08170852820, 08170852815

Specta Loan App

Specta Loan App is available for download on the Google play store (for android users).

Specta Loan Website

Specta loan website is

That’s it on how to loan money from Specta also, read our article containing the best loan apps with the lowest interest rate in Nigeria.

Leave a Reply