What you need to know!

Here is a broad scope of Frequently Asked Questions about Specta.

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 opened 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.

  • You can access a personal for a tenor of up to 12 months.
  • if you belong to a Sterling Community i.e. your company has been onboarded on the Specta platform, you can access a personal loan for a tenor of up to 36 months.

  • You can access a personal loan amount up to a maximum of N2 million naira.
  • if you belong to a Sterling Community i.e. your company has been onboarded on the Specta platform, you can access a personal loan of up to N5m.

  • The interest rate charged varies from 25.5% to 28.5% depending on your risk rating
  • Management fee is 1%
  • Insurance is 2.5%
  • if you belong to a Sterling Community i.e. your company has been onboarded on the Specta platform, rates have been pre-negotiated with your HR Manager or company representative.

Ultra Credit card is a revolving Naira denominated Card designed to address customer’s needs for convenience and short-term loans. The bank assigns appropriate credit limit to cardholder after credit scoring.

Sterling salary account holders, Sterling bank HNIs customers, business owners and non-Sterling bank account holders

Ultra Classic, Ultra Gold, Ultra Platinum and Ultra Black cost ₦1000

Upon receipt of your completed application, if found eligible for a credit card, your new credit card will be delivered to your branch within 72 hours from the date all the necessary information is received.

To activate your Ultra Credit Card and generate a PIN of your choice, you must:

  • Call our CustomerCare numbers on 01–4484481 and 07008220000 for card activation.
  • Once activation has been confirmed you are required to visit any nearest Sterling bank ATM to generate a four-digit PIN.

To generate your ATM PIN:

  • Insert your card and input any four digits PIN of your choice, select the option ‘PIN CHANGE’ and then choose ‘ATM PIN’.
  • Enter a new four-digit PIN (different from the earlier one entered) and re-enter same for confirmation
  • Wait for the ATM to display “PIN CHANGE SUCCESSFUL”

ATM withdrawal Fee 3%
POS/WEB Fee (Local & International) NIL

Card Types Quarterly Fee Annual Fee
Ultra Classic N 50 Free
Ultra Gold N 50 Free
Ultra Platinum N 50 Free
Ultra Black Free Free


Upon approval of customer’s request, a credit limit is assigned to customer based on his/her income, current indebtedness and capacity to repay. The total amount utilized does not need to be repaid entirely each month, a monthly minimum payment as stated in your statement is required to keep the card functional and interest will be charged on the unpaid balance after the 45days interest free grace period.

Your Credit Card statement is generated on the 16th of the month and forwarded to your personal email address.  If you do not receive your statement within 3 days from stated date, kindly contact customercare@sterling.ng  and your statement will be sent to you

The payment due date is the 28th day of every month

The least amount you must pay by the due date is the “minimum repayment”, found on your monthly statement. This amount is usually percentage of the total utilized amount plus all fees and interest. e.g., if you withdraw N20,000 plus N600 charge, you are to repay at least 10% of 20,600 which is N2060.

You can choose to pay 100% amount due and no interest will be charged on the card but if you choose to pay at least minimum amount due, the remaining balance will be carried over to the next statement period with the applicable interest charge on it.

Interest is calculated on the outstanding balance on your credit card (i.e. after making the minimum repayment), interest is calculated on the unpaid balance.

Cardholder is expected to make at least minimum payment of total outstanding balance on or before the due date (30th of the succeeding month), late payment fee of N2000 flat will be charged to your card inclusive of interest. Your Ultra Credit Card account will be force debited for repayment. If after 60days (two cycles), repayment is not made, system automatically deactivates your card.

Yes, you can have supplementary card(s) attached to your credit card. You and your supplementary cardholder(s) shall share a single credit limit.

If you notice any unauthorized transaction on your card, kindly call our Customer Care immediately on
01-4484481 and 07008220000 or send an email to customercare@sterling.ng

If you have any complaint, kindly contact your branch or call 07008220000 and 01-4484481 or send an email to customercare@sterling.ng

You can make payments in several ways:
– Through Alternative Channels(Internet banking, mobile banking) to your Ultra credit card account.
– Complete a deposit slip with the card account number and pay over the counter. Ultra credit card account.

SpectaScore is a Credit Score that is based on Specta's proprietary scoring model and may not be the same score used by third parties in certain instances to determine your creditworthiness. The provision of this score to you is intended for your information. Third Parties may take into consideration other information when evaluating your creditworthiness

The security of your information is important to us. Specta has implemented all necessary security measures to meet industry standards.

Specta Score is derived from Specta Model.

It is important to know and understand your credit score. It helps to take control of one’s financial life. Credit Scores are also used by financial institutions to evaluate risk for lending purpose.

Your Specta score is an overview of your credit health within the Specta Model at a specific point in time, which may change from day to day. However, Specta updates your score approximately every three months.

Generally speaking the higher your credit score, the better. Specta Credit Score ranges from 300 to 850 with bands stated below:

  • 801 - 850 EXCEPTIONAL
  • 751 - 800 VERY GOOD
  • 651 - 750 GOOD
  • 501 - 650 FAIR
  • 300 - 500 POOR

Your credit score is calculated taking into consideration your credit information, history and other parameters.

According to Specta Model, there are several ways to improve your low Specta Score, which includes:

  • Check your credit report and take necessary steps to correct errors on your report.
  • Pay your loan installments timely to avoid a derogatory credit report
  • Build a healthy credit history. You could take cash secured or personal loans. Visit myspecta.com to take the loan

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

This module is for Individual applicants for now

Specta Prime is open to Sterling bank and non-Sterling Bank customers.
For non-Sterling Bank customers, an account would be automatically opened for you to make your investment and disburse your loan.

Please click on forgot password link on the sign in page and insert the email address you used to register. A new generic password will be sent to your email, which can be changed afterwards.

Specta Prime is a strictly cash-backed solution; therefore, an investment is a requirement to access the loan.

The maximum amount that you can apply for on Specta Prime is N25,000,000.00

The platform automatically calculates the equivalent amount required for Investment once you specify loan amount, tenor, repayment mode and Investment currency.

The minimum tenor is 7days, while the maximum tenor is 12 months.

You can invest your existing Naira in fixed deposit for a maximum of 12 months and apply for a loan to match the investment. You can access up to 83% of the investment amount.

Your investment and loan would be booked and disbursed within 5minutes.

Kindly call us on 017004271 to speak to one of our agents. You can also send an email to specta@sterling.ng



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Specta Fees

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% .

Representative Examples

Let’s look at Emeka. Emeka gets a loan of N2,000,000.00 from Specta for the duration of 12 months, Emeka’s interest rate will be 25.5% and he will have to pay back N188,400.98, monthly for 12 months.
This is exclusive of management fees (1%) and Insurance fees of (2.5%) which are one off fees which he will still have to pay in addition to his monthly payment of N188,400.98. If Emeka defaults in paying back the loan, his default attracts a penal fee of 1% monthly.

* Loan rate may vary based on the risk rating analyzed by the system.