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Loan

Sterling Bank Loan

Sterling Bank offers great loans to help you out of financial illness and to give a helping hand to your growing business. In this post, you will learn all you will need to know about Sterling Bank Loan. Now let us get the ball rolling.

Sterling Bank Loan

Requirements

As much as Sterling Bank offers loan, you must meet certain criteria before you stand a chance to be granted the loan. Those criteria vary with the different types of loan offered by the bank: personal, business, employee and so on. But here are the general requirements:

  1. You must be a Sterling Bank customer (you must have an active account with them).
  2. You must have a valid means of identity, such as driver’s license, National ID Card, International passport.
  3. A recent(not more than two months) utility bill of your address of residence.
  4. Your recent passport photograph.
  5. Letter of recommendation from your guarantor.

Again, you will need a collateral to place for the loan.

How to apply

Before you set out to apply for any loan, I believe you should be good with the types of loan offers by the financial institution you want to borrow from. However, I’ll first of a take you through the loans offered by Sterling Bank.

First, the major platform for Sterling Bank loan is Specta Loan. So if you want to apply for Sterling Bank loan, learn more about Specta loan and how you can apply.

Nonetheless, there are still other loan offered by Sterling Bank outside those offered through the Specta platform. These loans are:

Auto Loan: You can purchase your dream car with the Sterling Bank Auto loan and you pay gradually.

Salary Advance loan: With this loan, you can have access to 50% of your salary before the month ends so that you can handle your day to say bills.

Alternative Energy Finance: The epileptic supply of power in Nigeria has left us no other choice but to source external power sources. With the Sterling Bank alternative energy finance you can buy power systems for you home and office.

Household Equipment lease: Maybe you would want to equip your house with the latest equipment; the Sterling Bank’s Household Equipment lease will help you get those those things with ease.

In order to apply for these loans which are not available on Specta Loan platform, you have to visit any Sterling Bank closest to you with the requirements stated above. You can also call the customer service number stated below, for help.

Interest Rate

The interest rate of Sterling Bank loan differ with loan terms: the tenor and amount borrowed. For business loans offered via Specta, the interest rate range from 26% to 30% per annum.


Other Popular Banks That Gives Loans In Nigeria:


Repayment

The Sterling Bank loan repayment processes is taken care of by the bank them self. At the stipulated due date of payment, an agreed amount will be deducted from your bank account.

You could also pay before the due date of payment following the instructions from the bank’s customer care service.

Pros & Cons

ProsCons
  • Sterling Bank offers wide variety of loan to cover whatever financial problems you may have.
  • Maximum tenor of 12 months
  • Collateral is required
  • Guarantor  is also required

Mobile App

What is available is the Sterling Bank mobile banking app and not the app for loan.

You can only apply for Sterling Bank loan by visiting the bank or by using the Specta Platform.

Customer Care

You can reach the Sterling Bank customer care if you have the need for them via mail: customercare@sterlingbankng.com

Official Websitewww.sterling.ng
Contact Number(+234) 0700STERLING
(070078375464)
01-4484481-5

Branches & Head Office

The Head Office: Sterling Towers, 20 Marina, Lagos Island, Lagos State.

There are many Sterling Banks dispersed around the country. To find the nearest Sterling Bank to you, use the Sterling Bank locator


You might want to see this: Federal Government Loan Scheme For Youth,Page Loan,Bank Of Industry Loan