Specta loan is Nigeria’s number one leading lending financial institution that gives you access to up to N5 Million in a transaction within 24 hours of application.

To apply for a Specta loan, you do not need collateral, guarantors, or even a visit to any of the physical branches, just from the comfort of your home you can apply and get approved without paper works, this is all hustle free!

In this post, I am going to take you through a step-by-step process of how to apply for a Specta loan and get approved easily. On this note, you are advised not to skip a line so you don’t miss any vital information regarding how to apply and get a credit from the Specta firm.

Specta loan seeks to provide a convenient way to get instant credit or loan by following standardized data processing procedures and analytics. Your loan is simply reviewed by an automated system and once all information provided is correct and viable, you will be credited with the specified loan offer you applied.

With Specta loan you can apply for a loan as high as 5 Million Naira without paperwork. The loan will be deposited into your local bank account even without meeting any agent or performing any physical transactions. This is one of the reasons Specta Loan seems to be one of the best leading financial institutions in Nigeria.

Who is Eligible to apply for Specta Loan?

As long as you are Nigerian either by birth or neutralization, own a Bank Verification Number and any approved Government Issued Identity Card you are eligible to apply for the Specta debenture.

Spectra Loan Interest Rate and Repayment Procedures

Spectra Loan interest rate depends mostly on the amount of loan you apply for. Interest rate on Loan: 25.5%-28.5% . One-off payment for Insurance: 2.5%. One-off payment of Management fees: 1%. Repayment Period: 1-12months. Penalty fee- 1%.

The repayment also largely depends on the loan package. The tenure for payment could be between 1-12 Months without a moratorium. Specta Loan financial institution sets up the monthly payment plan, and you are encouraged to stick to the plan. However, you can pay up against 2 or 3 months ahead but not the former.

Where Can I apply for Specta Loan?

There are two options available to apply for Specta Loan and they are as follows
Specta Online Website
Specta Loan App

Specta Online Website

The official website to apply for the Specta credit offer is through the official website https://www.myspecta.com all application outside this website is considered null and invalid.

Specta Loan App

The specta loan app is an advanced mobile financial app developed by the firm to aid the application processes of any individual or business that want to apply for specta debenture. The mobile app is available on the Google Play Store with a star rating of 2.6/5.0 at the time of writing this guide. You should however know that 2.6/5.0 is a fair rating on the Google play store, it shows that users are not quite satisfied with the mobile app, hence, you can consider using the official website stated above.

Specta loan offers credit facilities to two types of groups. They are listed below

• Individual
• Business

Specta4individuals

With Specta you can access a personal loan of up to an N5Million without collateral in 5 minutes.

Specta4business

Boost sales with Specta by signing up to start receiving payments from customers with Specta spending limits. You can also get up to N2M to start or grow your business.

Specta has the following packages to serve you:

Specta4Individuals It can be accessed by Salaried and Non-Salaried individuals

Salaried Individuals –. You can access a personal loan if your salary account is domiciled in any other Bank or with Sterling Bank. It is open to all account holders in Nigeria.

Non-Salaried Individuals – You can access a personal loan if you are self-employed, a business owner, a professional, a trader etc., with accounts in any other bank or with Sterling Bank.

Specta4Business Boost sales with Specta by signing up to start receiving payments from customers with Specta spending limits. You can also get up to N2M to start or grow your business.

PaywithSpecta provides customers with digital credit limits that can be used to purchase items from online stores and in-store at merchant locations. Customers can also access quick cash from their limits

Ultra Credit Card It is a revolving naira-denominated card available to everyone which is designed to address your needs for convenience and short-term loans.

Specta Score Credit score serves as a determinant for Financial Institutions in evaluating the customer’s risk for credit purposes. This will in turn assist customers in making effective decisions in managing their financial life.

Specta Prime – This is a Specta variant, which allows you to get loans that you can back up with your investments. In this module, you can invest your Naira at a competitive rate and get a loan at a very reduced interest rate.

Specta loan Requirements

To apply for Specta Loan, you must have the following requirements

1. Bank Verification Number
2. Government Issued Identity Card
3. Valid Email address and Mobile Number
4. Bank Account with a renounced bank in Nigeria

How to apply for Specta loan application

In other to apply for Specta Loan, kindly follow the steps below:

• Choose the loan package you find suitable
• Begin the application by clicking the “Loan Offer” Button
• Fill and complete the application and hit Submit
• Once your application is accepted, you will be credited with your specified loan offer.

Conclusion

The specta loan is initiated by SterlingBank to help individuals or businesses grow expand and grow their financial portfolios. If you are seeking loan offers in Nigeria, you can consider applying for the Specta Loan Application or check out the Best Loan Apps in Nigeria 2022