Specta Review
VerifiedCBN LicensedSterling Bank's digital lending platform for instant personal loans
₦50,000 - ₦5,000,000
Loan Amount
2.5-4.5%
Monthly Interest
30-365 days
Repayment Term
Instant to 48 hours
Approval Time
Pros & Cons
Pros
- ✓Backed by Sterling Bank (established bank)
- ✓Lower rates than most loan apps
- ✓Instant approval for Sterling customers
- ✓Up to ₦5 million loan limit
- ✓Both Android and iOS support
Cons
- ✗Best experience requires Sterling Bank account
- ✗Non-Sterling customers face longer verification
- ✗Stricter requirements than casual loan apps
- ✗Limited to salaried workers initially
How to Apply for Specta Loan
- 1
Download Specta app from Play Store or App Store
- 2
Register and link your bank account
- 3
Complete KYC verification
- 4
Request loan amount and select tenure
- 5
Review terms and accept
- 6
Receive instant or same-day disbursement
User Reviews
Oluwaseun D.Verified
Lagos
January 2025
I bank with Sterling so Specta is perfect. ₦300k loan approved in 2 minutes at 3% monthly.
Ngozi E.Verified
Enugu
December 2024
Good rates. Took longer because I don't have Sterling account but still better than Carbon.
Ahmed B.Verified
Kano
November 2024
Great if you're already Sterling customer. Otherwise process is similar to other apps.
Frequently Asked Questions
Do I need a Sterling Bank account for Specta?
No, but Sterling Bank customers get instant approval, higher limits, and better rates. Non-customers can still apply but face standard verification.
Is Specta safe?
Yes. Specta is operated by Sterling Bank, a CBN-licensed commercial bank. Your data and transactions are protected by bank-level security.
How do I increase my Specta limit?
Open a Sterling Bank account, maintain regular salary deposits, repay loans on time, and build transaction history. Limits increase automatically.
Can I use Specta for business loans?
Specta primarily offers personal loans. For business loans, contact Sterling Bank directly for SME lending products.
Quick Info
- Founded
- 2017
- Headquarters
- Lagos, Nigeria (Sterling Bank)
- CBN Licensed
- Yes
- Disbursement
- Instant for Sterling customers, 24-48 hours for others
- Last Updated
- 2025-01-18
Requirements
- •Valid BVN
- •Nigerian phone number
- •Age 21-59 years
- •Smartphone (Android or iOS)
- •Bank account (Sterling preferred)
- •Verifiable income source