Specta loan review (Is Specta loan legit?)

Specta loan review (Is Specta loan legit?)

Specta loan review (Is Specta loan legit?)

Specta loan review

Read all about Specta loan in this specta loan review.

There are times in life when we urgently need money to solve a pressing issue, and maybe we can’t quite seem to get it from friends or family. The next best option is to get a loan.

Taking loans from commercial banks is a very stressful process, the paperwork and also the fact that you will need a collateral just puts off most people.

In the past few years, there has been an increase in the number of apps & platforms that offer small loans to students, entrepreneurs and business owners.

Specta is a platform that is owned by sterling bank, that gives you access to loans of up to 5 million naira without needing any form of collateral or visits to any of its offices, and you can get the loan in just 5 minutes.

Specta loan has different packages for salary earners, business owners, corpers, investors etc. irrespective of which bank you are using.

In this Specta loan review, I am going to be writing about all you will need to know about Specta loan under the following sub-topics “Specta loan packages”, “Specta loan requirements”, “Specta loan interest rate”, “How to apply for a specta loan”, “Specta loan app”, “Specta loan customer care”, “Is Specta loan legit?” and many more.

Remember to leave us a comment after you finish reading and also share with your friends on social media.

Let’s get into it then…

Read my post on C24 loan app

What is Specta loan?

Specta is a platform that is owned by sterling bank, that gives you access to loans of up to 5 million naira without needing any form of collateral or visits to any of its offices, and you can get the loan in just 5 minutes.

Specta loan has different packages for salary earners, business owners, corpers, investors etc. irrespective of which bank you are using.

According to its website “With specta, you do not need collaterals, guarantors or a visit to any office to get your loan approved”.

Specta loan packages

The following are the loan packages available on Specta:

Specta Xtreme

This particular package is open to both salary earners and business owners, and there is usually profiling. You can get up to 2 million naira with a maximum tenor of a year.

Specta basic

This particular package is open to just business owners who have a sterling bank account and also salaries employees. You can get up to 5 million naira with a maximum tenor of 4 years and flexible interest rate.

Specta prime

This package allows you to earn money in your investments while you lend for urgent needs. You can borrow in the following currencies: dollars, naira, euro and pounds.

Specta allawee

This package is meant for NYSC members, it enables corpers to access funds to develop and expand on their entrepreneurial ideas.

Specta quick cash

This package is available to all irrespective of the bank you are using. You can get up to 20,000 naira quick cash to individuals based on your transaction history and social media reputation.

Requirements to get a loan from Specta (Specta loan requirements)

There are no elaborate requirements to get a loan from Specta, but at the very least, you will need the following:

  1. A bank account
  2. Bank verification number
  3. A valid means of identification
  4. A valid email address

Specta loan interest rate

The interest rate on your loan is dependent on your loan package, but usually the range is from 20% to 30% per annum.

The following fees are charged on all packages:

  1. Management fee: 1% maximum
  2. Commitment fee: 1% maximum
  3. Insurance fee: 1% flat on salary advance and personal loans)
  4. Household/asset acquisition (7% flat)

How to apply for a Specta loan

To apply for a specta loan, follow the below instructions:

  1. Request to get profiled, either as an individual or a business by sending an email to specta
  2. Select the loan package that you find suitable.
  3. Begin the application by clicking on the loan offer
  4. Fill out the application form and submit
  5. Wait and if you meet the requirements, you will be granted a loan.

Specta loan repayment

Specta loan repayment is dependent on your loan package, but the tenor is usually within the range of 1 to 4 years. You can set up a monthly repayment plan to pay back at your comfort.

Read my Gocash loan app review

Specta loan customer care

You can contact the customer support via the following channels:

Phone number: 01-7004271

Email: Specta@sterling.ng

Specta loan app

The specta loan app is available on the Google playstore, and is not yet available for iPhone users. You ca however request for a loan from the website or by contacting support.

Is Specta loan legit?

Yes, Specta loan is legit. Specta gives you access to loans of up to 5 million naira without needing any form of collateral or visits to any of its offices, and you can get the loan in just 5 minutes.

Specta is one of the platform to get instant loans in Nigeria. Visit the official website https://myspecta.com

You can leave your reviews about Specta loan in the comment section below.

Conclusion

Read my renmoney loan review

Thank you for reading my Specta loan review. If you have any question or comment, you can leave it in the comment section below.

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Thank you once again for reading.

 

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