Description

Specta

Specta is Sterling Bank’s digital lending platform.

Products

• Salary Advance –  It provides employees with quick funds. No documentation or collateral required to get any loans. Once application is complete, scoring is instant and disbursement done in less than 5 Minutes. Their maximum loan amount is N5,000,000. Fees charged are Management fee (maximum of 1% negotiable per community), Commitment Fee (Maximum of 1% negotiable per community) and Insurance Fee (1% flat per annum non-negotiable on Personal loans and Salary Advance, and 7% flat on House Hold/Asset Acquisition). Specta charges a 1% monthly default on past due amount

Pros

• You can apply for quick loans.
• Fast loan approval process (promising loans in 5 minutes).
• No bank branch, no collateral and no paperwork.

Cons

• You must work for an organization to access Specta loans
• A physical bank account is required before operating their account.

Requirements

• Complete a Loan Application form
• Fill form with Nuban and BVN
• Submit your application