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HomeBankingSterling Bank Loan Including  Code

Sterling Bank Loan Including  Code


Getting a loan in Nigeria is inevitable, whether it’s from a loved one or an institution, almost everyone probably has a story where they had to obtain a loan. The Sterling Bank loan is designed to finance that need which made you request it in the first place, sterling bank loan was designed to help people achieve their big dreams that needed financial support.

Borrowing money from Sterling Bank has come a long way, and they have introduced a new way to get a quick loan. You do not need to visit the nearest branch and provide documents before you can get a loan.

The bank provides banking services to individuals, small businesses and large organizations. Sterling is particularly strong when it comes to business and investment banking with a growing retail presence.


Sterling Bank Loan

Sterling bank offers two basic loans which include;

  1. Personal loans.
  2. Business loans.


1. Personal Loans

Sterling bank designed its loan services for individuals looking to take a quick loan without going through the trouble of paperwork or collateral. Some of the services under these personal loans are;

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Specta Loan

The Sterling bank specta Loan gives you access to an instant cash loan of up to N5 million naira in minutes and is paid directly to your account. The Sterling bank loan boost of its Specta Loan offer which is said to be the fastest money lending platform that offers individuals and businesses loans without collateral, paperwork and no visit to any office.

Specta Loan is designed to support your dreams and give you the life you desire. The specta loan platform operates Nationwide and offers loans to all salary earners, entrepreneurs and youth corper without considering their occupation. Virtually, anyone can apply for the spectral loan.

The specta sterling bank loan offers quick cash loans in 24hrs for small, medium and large-scale business owners.

They also have varieties of loan offers on specta loan website which includes; Myspecta personal loan, Myspecta prime loan, Myspecta credit card loan, and Myspecta Nysc allowed loan.

To get started with the Sterling bank loan and apply for a specta loan, quickly register and create a Specta Loan account.

Fill in your correct details both name, email address, BVN and date of birth then choose your account password and register.

Then select the loan package of your choice and hit the apply button below the loan offer.


Specta Loan Offers

  • Specta Holiday Finance Loan.
  • Specta Personal Project Loan.
  • Specta Rent Finance Loan.
  • Specta Education Loan.
  • Specta Personal Loan.
  • Specta Wedding Loan.
  • Specta Medical Loan.
  • Specta Payday Loan.


Specta Loan Interest Rates

The specta loan interest rate fees go from 25.5% – 28.5%, one-off payment of insurance fee: 2.5%, one-off management fee: 1% and 1 – 12 month repayment period and 1% penelty fee.


Requirements Needed For Specta Loan

The requirements needed for specta loan include;

  • A bank account number (Sterling bank account number is preferable).
  • You must be above the age of 21 years.
  • A bank verification number (BVN).
  • A valid ID for identification.
  • A valid email address.
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Social Lender

Social Lender is a lending solution based on social reputation on mobile, online and social media platforms. Small cash requests are offered to members of Social Lender communities with valid bank accounts. Cash requests are guaranteed based on the user’s Social profile and reputation.

To begin the process, the User’s Social Media information/profile is assessed based on a proprietary Social Algorithm to calculate a user’s Social Reputation Score. Users are eligible for a cash request with a minimum social reputation score (see scoring) and cash requests are granted on a case-by-case basis after an extensive Social Audit of the requesting user is carried out by one of our Social Credit Officers.

Some of the factors that affect Social Reputation Scores and eventually getting a cash request include;

  • The social information is available about the user.
  • The duration of activity on the social network.
  • The investigation was done by our Social Credit Officer.
  • Additional Social Collateral submitted by the user.
  • Validation of the Social Guarantors provided by the user.

Periodically, a minimum social reputation score to be eligible for a cash request is published on the Social Lender Platform.


Benefits Of Social Lender

  • Users get fast cash on the go when needed at a low cost.
  • Withdrawal of requested cash is bank independent as the money can be withdrawn from any existing banking channel including ATMs.
  • The transaction is confidential (only the Requester, the Social Cash Request Credit officer and in some cases the guarantor are involved in the cash request process).
  • Users have the potential of getting higher cash requests. The more a user uses the service (and pays back when due), the higher the trust rating, hence the higher amount the user can request at a time.

Users whose social reputation doesn’t add up to the required minimum may be able to augment their score by requesting a guarantor on the system. The more guarantors a user has on the system, the higher the eligibility for cash requests (regardless of the social reputation score). The possible list of guarantors is retrieved from a list of users’ friends (or followers) who are also using the Social Lender Application.


Social Lender Cash Request

Cash Requests on Social Lender range from a minimum of 1,000 Naira to a maximum of 100,000 Naira (maximum of 10,000 Naira for the first few transactions, a maximum of 3,000 Naira for first-time users without Social Guarantors). The maximum amount increases over time based on the frequency of successful transactions.

Social Lender Cash Request Disbursement

The Cash Request is paid directly to the Requester’s Bank Account. This account is verified as part of the registration process on the platform. Users are credited via existing and regular banking platforms and the maximum duration of the cash request is determined by the partner financial institution ( Sterling Bank ) (usually 30 days) with a service charge as defined by the partner. Transaction Charge per Cash Request ranges from 5% to 20% of the disbursement amount.

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Social Lender Cash Request Repayment

Cash Requests can be repaid using existing banking channels including mobile money, bank or online transfer, physical banking, Online Bank Transfer, Deposit in branches, online payment switch, Mobile Money Transfer and other payment options available.

In a situation where a user is not able to re-pay the cash request by the end of 30 days, the user must roll over the cash request, this may be recognised as a new cash request. However, the user must repay the transaction charge by the end of the 30 days regardless of repayment of the principal. If a cash request becomes ‘Unserviced’, the cash request retrieval process will commence as indicated in the Social Lending Agreement.


2. Business Loans

Business loans offer helpful resources and finances that will help you invest and expand your business. Packages under business loans include;

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These instruments entail Sterling Bank substituting its creditworthiness for that of its client and it is done at the request of the bank’s client to the beneficiary.

They are undertakings by the Bank, that its customer will carry out the terms of a contract, failing which and upon presentation of predetermined documents, the Bank, to the extent of its undertaking, will compensate the beneficiary.

Other forms of guarantees include bid bonds and advance payment guarantees.

It is available to customers with contracts from government agencies, corporates etc.


Import Finance

The Sterling Bank Import Finance Facility provides financing to importers specifically for the importation of industrial goods, raw materials and consumer products.

It is available to corporate customers, multilateral corporations and companies.

Tenor usually ranges from 30 to 180 days per tranche and the ultimate maturity is usually one year or less.

A 20% minimum equity contribution is required from the customer.

The goods to be imported must be insured under Clause “A” Insurance from a reputable company.


Invoice Discount

Invoice Discount Facility (IDF): This is a specialized revolving line of credit, extended to fund accounts receivable and accommodate the customer’s continuous need for working capital pending receipt of payments.

It is available to rapidly growing companies with corporate accounts in Sterling Bank and whose growth typically requires constant cash outlay.

The tenor is short and self-liquidating, usually not more than 90 days.

The borrower draws against the line as new accounts receivable are created.

Disbursement is limited to a maximum of 80% of the invoices.

Repayment is from a collection of the accounts receivable continuously.


Letter of Credit

A letter of credit is an instrument guaranteed by a Bank that enables importers and exporters to exchange goods on credit. Sterling Bank, acting at the request and on the instructions of our customer (the applicant) or its behalf


Makes payments to or to the order of a 3rd party (the beneficiary) or is to accept or pay bills of exchange (draft) drawn by the beneficiary, or

Authorizes another bank to effect such payment or to accept and pay such bills of exchange (drafts) or

Authorizes another bank to negotiate against stipulated documents provided that terms and conditions of the credit are complied with.



Our overdraft facility provides financing that helps you meet your day-to-day operational and unplanned expenses. We can help you bridge your working capital gaps.

This product is available to current account holders.

The borrower is permitted to overdraw his/her current account up to, but not exceeding, the approved limit of the overdraft facility.

You can conveniently increase or decrease your limit at any point in time.

Maximum tenor of twelve (12) months from date of offer, acceptance or disbursement; whichever comes first.

We offer competitive pricing.


Project Finance

At Sterling Bank, we are eager to go into a long-term partnership with you and provide the finances you need to bring your project to reality. Bring your business proposal to us and we would finance it.

You can enjoy financing up to the Bank’s single obligor limit with a tenor as high as ten (10) years.

Our pricing is competitive and subject to negotiation.

The project’s cash flow must be sufficient to liquidate the facility over its lifetime.


Sterling Bank Loan Code

Just like the Access Bank Loan code and First Bank Loan Code, you can also apply for a loan through the Sterling bank USSD loan code, Dial *822# to get Instant access to Sterling Specta Loan.

The code *822# can only be accessed on the mobile phone number linked to your Sterling Bank account. Also, it is accessible from all networks in Nigeria.

However, borrowing money from Sterling Bank through the USSD code *822# is only available to all Sterling Bank mobile banking customers. Before you can use the code to borrow money from Sterling Bank, you must activate their USSD banking service.



The system of banking in Nigeria provides many new convenient features for customers, and Sterling Bank is no exception. They offer some of the best loans for its customers to assess, and its loan services are diversified.

Sterling bank loans focus on individuals and businesses, meeting you at your point of need. It has something for everyone, from quick cash emergencies to millions required to finance megaprojects.

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