FAQs About Specta4Individuals

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FAQs About Specta4Individuals

All Your Questions Answered: Specta4Individuals

Do you need more financial aid to meet unforeseen costs, medical bills, or maybe a well-deserved vacation? If such is the case, a Specta may be the ideal remedy for your situation. Specta loans from provide reasonable interest rates, flexible repayment alternatives, and a straightforward application procedure to assist you in accomplishing your financial objectives. This guide aims to provide comprehensive information regarding Specta loans, including topics such as qualifying requirements and delivery techniques.

Specta is a lending platform that is both owned and administered by . The platform's objective is to provide credit facilities to individuals who get a wage and to company owners. This financing service assists people in covering their bills and fulfilling their personal demands. Specta4Individuals refers to a collection of expedient and individualized loans that may be accessed via the Specta app. These loans are accessible to people who get a regular salary as well as those who do not receive a regular salary.

1. Specta Quick

The Specta Quick Loan is available to both employed and self-employed persons.Individuals are eligible to apply for the Specta Quick Loan whether their salary account is held in any bank other than or if it is held with Sterling Bank. This loan opportunity is available to all account holders in Nigeria. Entrepreneurs who are not salaried are also eligible for the loan.


  1. Valid ID: driver's ID, national ID or international passport.
  2. Utility bill (within the preceding 3 months).
  3. Three (3) months of stamped statements of account.
  4. .
  5. Two individual external guarantors with proper means of identification, such as , four (4) passport photographs, identity Cards and a letter of intent to guarantee the loan.
  6. Signed post-dated checks.

2. Specta Consumer Loan

The Specta Consumer Loan provides individuals and companies with loans of up to N5 million within a five-minute timeframe. There is no need for documentation, collateral, or visiting an office to get this loan. It is accessible to individuals who receive a wage, entrepreneurs, or youth corps members.


  1. Must be a salary earner.
  2. Last six months statement of salary account.
  3. Bank Verification Number ().

FAQs About Specta Loan

Specta is a Nigerian platform that provides digital financing services. Below are some frequently asked questions (FAQs) about Specta Loans:

Which individuals are eligible to get the Specta4Individuals Loans?

Specta Loans are available to both persons who have a salary and those who do not receive a salary.

What is the interest rate for the loans?

You have the ability to get a personal loan with a duration of up to 12 months. If your firm has been registered on the Specta platform, you have the opportunity to get a personal loan for a period of up to 36 months.

Do Specta4Individuals loans include interest rates and other fees?

The interest rate applied ranges from 25.5% to 28.5% based on your risk assessment. In addition to the loans, there is a management charge of 1% and insurance at 2.5%.

What are the minimum and maximum loan amounts available for borrowing on Specta4Individuals?

The range of loan amounts might vary based on your eligibility and the particular loan package you choose. The determination of loan amounts is contingent upon criteria such as your income, creditworthiness, and ability to repay.

Is collateral required to get a Specta loan?

Specta typically provides unsecured loans, meaning that no security is required to get the credit. The loans are normally approved based on your creditworthiness and capacity to repay.

What are the requirements for loan eligibility on Specta in Nigeria?

The eligibility requirements may include variables such as age, income level, work position, and credit history. Fulfilling these requirements is crucial in order to be eligible for a loan.

More features of the Specta4Individual Loans

To access the loans, borrowers must provide:

  1. Evidence of the last payslip.
  2. Duly filled out the employer's letter of undertaking.
  3. Duly signed letter of set-off/lien.
  4. Positive credit checks.
  5. There is no history of returned checks.
  6. Valid means of identification (inclusive of the employee's ID).
  7. BVN
  8. Passport photograph.


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