AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Specta is Sterling Bank's digital lending platform, applied for through the Specta app or specta.sterling.ng. As at October 2026 Sterling's loan page lists Specta Xtreme for self-employed and non-salaried people, typically ₦50,000 to ₦2m over 12 months at 40% to 44% a year, with no Sterling account required, and Specta Basic for salary earners, typically ₦50,000 to ₦5m at 40% a year where salary is domiciled and the employer's community is onboarded.
What Specta is
Specta is Sterling Bank's online lending service. Sterling describes it as a way to borrow without collateral, with your income checked from your bank statements. There are two main products, and the first thing to settle is which one applies to you.
| As listed by Sterling (accessed Oct 2026) | Specta Basic | Specta Xtreme |
|---|---|---|
| For | Salaried customers with regular income paid into their account | Self-employed and non-salaried people, and salary earners banking elsewhere |
| Typical limit | ₦50,000 to ₦5m | ₦50,000 to ₦2m |
| Rate | 40% a year (may vary by community) | 40% to 44% a year by customer category |
| Tenor | Up to 48 months | 12 months |
| Sterling account | Salary domiciliation required | Not required; one may be opened for disbursement |
| Digital | Profile and limit set up before you can log in and see it | Described as 100% digital |
Rates and limits can change. Check Sterling's loan page and the figure shown in your offer before you accept. Our Specta rate and limit guide tracks how Sterling states them.
Requirements
Specta Basic
- You are a salary earner and your salary is paid into a Sterling account.
- Your employer, or community in Sterling's terms, has been onboarded for Specta Basic.
- Your profile and limit are set up by Sterling before you can see them online. Sterling's page offers an Indicate Interest form to start this.
Specta Xtreme
- You are self-employed, a professional or a business owner with steady income, or a salary earner whose account is with another bank.
- Your bank statements can be retrieved electronically; Sterling says it uses MyBankStatement for this.
- BVN and valid ID for identity checks, and a bank account for disbursement.
- No collateral is required, according to Sterling.
Steps to apply
- Download the Specta app from the Google Play Store or Apple App Store, or go to specta.sterling.ng.
- Register with your phone number and email and verify them.
- Enter your BVN and personal details; they must match your BVN record.
- Choose the amount and tenor you want.
- Authorise the statement request when prompted. You will be asked to approve it with your bank, usually through a code sent by the bank. Approve it from the account that receives your income.
- Submit. Specta reviews your statements and bureau record and shows its offer.
- Read the offer: amount, rate, monthly repayment, tenor and fees.
- Accept and set up repayment. Disbursement is to the account you nominate.
For Specta Basic, if you cannot see a limit, ask your HR whether your employer is onboarded, then submit Sterling's Indicate Interest form.
Why statements decide your Specta offer
Specta's assessment rests on what your bank statements show. It looks for income that arrives regularly, the size of that income relative to the loan requested, how much already goes out each month to other lenders, and signs of strain such as frequent bounced debits or a balance that sits near zero. A statement from an account you use only occasionally gives a weaker picture than one from the account your salary or sales actually pass through.
Before applying, look at the last six months of the account you plan to use as Specta will. If income arrives in several banks, consider routing it into one for a few months first. Clearing a small loan that is still being debited each month can also lift the amount offered.
Worked example: a 12-month Specta Xtreme loan
Using Sterling's listed 40% a year as an example, and assuming equal monthly repayments on a reducing balance, a ₦500,000 loan over 12 months works out as follows. Your offer may use a different rate, method or fee.
- Monthly rate
- 40% ÷ 12 = about 3.33%
- Monthly repayment
- about ₦51,236
- Total repaid
- about ₦614,829
- Interest
- about ₦114,829
Add any fee shown in the offer to get the full cost. Compare this with other lenders' totals rather than with headline rates; see APR versus flat fee.
Repaying a Specta loan
Repayments are collected monthly through the method set up when you accept. Keep the instalment in the account a day before the due date, and if you expect a shortfall, contact Sterling before the date passes. Missed instalments add charges and are reported to credit bureaus.
What to check first
- Approve statement requests only through your own bank's channel; never share your banking password.
- Make sure the repayment, with existing debts, fits your monthly income.
- If you are declined or the limit is low, read why Specta declines and what to do.
- Read our Specta review if you are new to the platform.
Where Pryme fits
For merchant spending in sectors such as schools, pharmacies and groceries, Pryme's Loans on Spaces may be an alternative: Solid Allianze Microfinance Bank may offer a limit based on how your account is run, with the full agreement shown for you to accept.
Questions people ask
Do I need a Sterling account for Specta?
Not for Specta Xtreme, according to Sterling, though an account may be opened for disbursement. Specta Basic requires your salary to be paid into Sterling.
What is the Specta interest rate?
As at October 2026 Sterling lists 40% a year for Specta Basic and 40% to 44% a year for Specta Xtreme. Your offer shows the rate that applies to you.
How much can I borrow on Specta?
Sterling lists typical limits of ₦50,000 to ₦5m for Specta Basic and ₦50,000 to ₦2m for Specta Xtreme. Your limit depends on your statements and credit record.
Does Specta require collateral?
Sterling describes Specta Xtreme as needing no collateral.
Sources
- Sterling Bank: Loans (Specta Basic, Specta Xtreme, payroll and SME lending) · accessed Oct 2026
- Sterling Bank: Specta (specta.sterling.ng) · accessed Oct 2026
- NairaCompare: Specta loan listing · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.