Specta (by Sterling Bank) — review & details
Sterling Bank's digital lending platform offers loans up to ₦5 million with the longest tenors in this comparison — up to 48 months for salary earners banking with Sterling. A rare bank product that also serves the self-employed via Specta Xtreme.
Up to 48 months
Specta (by Sterling Bank)
★★★★☆
Digital personal loan (Specta Basic for Sterling salary earners; Specta Xtreme for others, including self-employed)
Loan Type
Up to 48 months (Basic); 12 months (Xtreme)
Tenor
Product of Sterling Bank, a CBN-licensed commercial bank
Licence
Application to disbursement within minutes, per Sterling
Speed
Borrowers who want a larger amount repaid over years, not weeks
Best For
bank
Type
Pros
- Tenors up to 48 months — most digital lenders cap out at 12 months or far less
- Serves self-employed and non-Sterling customers through Specta Xtreme, which most bank loan products do not
- No collateral; fully digital journey on specta.sterling.ng
Cons
- Advertised annual rates of around 40% are bank-cheap only relative to loan apps — this is still expensive money over a long tenor
- The best terms (higher limits, 48 months) require your salary domiciled with Sterling Bank
- Xtreme variant carries a higher rate and a much shorter 12-month cap
Fees, eligibility & documents
Fees
InterestRoughly 40% per annum advertised on Sterling's site at the time of review — cheaper than app-based credit but a heavy total cost over 3-4 years; check the live quote before accepting
Other chargesInsurance and fees may apply per product variant — the platform shows the full schedule before you accept
Eligibility
- Specta Basic: salary domiciled with Sterling Bank
- Specta Xtreme: salary earners banking elsewhere, professionals and business owners with strong records
- BVN and satisfactory credit history
Documents needed
- BVN; bank statement or salary evidence for Xtreme applicants
How Specta (by Sterling Bank) compares in personal loans
| Specta (by Sterling Bank) | FairMoney | GTBank (QuickCredit) | |
|---|---|---|---|
| Loan Type | Digital personal loan (Specta Basic for Sterling salary earners; Specta Xtreme for others, including self-employed) | — | Instant personal loan for GTBank customers |
| Tenor | Up to 48 months (Basic); 12 months (Xtreme) | — | Monthly instalments, up to about a year |
| Licence | Product of Sterling Bank, a CBN-licensed commercial bank | CBN microfinance bank | Product of Guaranty Trust Bank, a CBN-licensed commercial bank |
| Speed | Application to disbursement within minutes, per Sterling | — | Minutes via USSD (*737*51*51#) or the app — no branch visit |
| Best For | Borrowers who want a larger amount repaid over years, not weeks | — | Salary earners and active GTBank customers who want cheap credit |
| Visit Specta → | Visit FairMoney → | Visit GTBank → |
Ratings are Rateweb's editorial opinion. Product details are checked periodically but can change — confirm current terms with the provider before acting. We may earn a commission from some links, at no cost to you.
