GET SPENDING LIMIT

To get your spending limit, click “Sign Up” on the landing page to start your journey.

To sign up, we collect your basic information and send an OTP to the phone number attached to your BVN. Login to your dashboard to continue.

From your dashboard, click “Get your spending limit” and follow the 3 easy steps to get your limit instantly.

  • Fill in your personal information
  • Complete your bank information
  • Provide your account information

(If you are new to Sterling, get your passport photograph, utility bill, signature and valid means of identification ready as you will need to upload it to open an instant online account)

To get a spending limit:

  • You must have a good credit history
  • You need 6 months consistent cashflow (your Bank would charge you for your Bank statements)
  • All outstanding obligations with financial institutions would be considered
  • Maximum spending limit is N2,000,000.00 (Two Million Naira)

To start utilizing your spending limit:

  • Login to your dashboard to tokenize the debit card linked to the bank statement submitted for review
  • If you are new to Sterling bank, KYC documents (e.g. references, address verification) need to be verified. This usually takes 48 hours to complete
  • With your Specta ID, you can make purchases at any of our partner merchants (in-store or online)
  • 30% of the spending limit can be accessed as cash to make purchases from merchants yet to sign up for Pay with Specta or for your personal needs

Spending limit is valid for 3 months and can be renewed instantly. Also, when limit is paid down, you can renew instantly by clicking “Get spending limit” from your dashboard.

RATES

There is no charge for unutilized spending limit.

  • 0 – 90 days repayment

    You are not charged interest and fees when you purchase and choose to repay in 1 to 3 instalments at some of our partner stores.

    You can get 40% of your unutilized spending limit to spend when you choose 90 days repayment tenor

    You can get 40% of your unutilized spending limit to spend when you choose 60 days repayment tenor

    You can get 40% of your unutilized spending limit to spend when you choose 30 days repayment tenor

  • 7 – 12 months repayment

    You can get 100% of your unutilized spending limit to spend when you choose 7 to 12 months repayment tenor.

    You get charged when you spread your repayments between 7 to 12 months for purchases at any of our partner stores.

    When you pick 7 – 12 months repayment tenor, the interest rate is as low as 21% per annum or 1.75% monthly and does not exceed 21% per annum or 1.75% monthly. The insurance fee is 2% per annum.

  • When you take cash, the available repayment tenor is 7 – 12 months and the interest rate is 22% per annum or 1.83% monthly, while the insurance fee is 2% per annum.

ABOUT PAY WITH SPECTA

With Pay with Specta, we are creating a unique approach to the credit financing ecosystem. We offer you a digital spending limit that can be used to make purchases from merchants (in-store and online).
A portion of this digital credit could be converted to cash, which allows you to make purchases from merchants yet to sign up for Pay with Specta or for your personal needs. We would also reward you for every merchant you refer to us. Learn more by going through the digital journey.

SHOP ONLINE

When you visit any of our partner online merchants/stores, pick all your products and simply check out with Specta.

Enter your Specta ID and choose tenor for repayment to proceed. The tenor range is between 0 to 90days Interest-free and 7 to 12 months with interest.
An OTP would be sent to the phone number attached to your BVN. Input the OTP to complete the transaction.
Your account with Sterling would be credited and the funds moved instantly to the merchant for the purchase you made.
An offer letter would be sent to your email showing the terms and conditions of the loan.

SHOP IN STORE

When you visit any of our partner in-store merchants, pick all your products and pay with Specta at the counter.

Provide your Specta ID to the agent and choose tenor for repayment to proceed. The tenor range is between 0 to 90days Interest free and 7 to 12 months with interest.
An OTP would be sent to the phone number attached to your BVN. Provide the OTP to the agent to complete the transaction.
Your account with Sterling would be credited and the funds moved instantly to the merchant for the purchase you made.
An offer letter would be sent to your email showing the terms and conditions of the loan.

GET CASH

You can get 30% of the spending limit as cash for your personal needs.

To get cash, click “Get Cash” on the landing page or when you login to your dashboard.
Enter your Specta ID and choose tenor for repayment to proceed. The tenor range is between 7 to 12 months.
An OTP would be sent to the phone number attached to your BVN. Input the OTP to complete the transaction.
Your account with Sterling would be credited instantly and an offer letter would be sent to your email showing the terms and conditions of the loan.
You can access the loan using our One Bank app for transfers.

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