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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

ACOM

Advertiser Disclosure

    About bank

    ACOM Consumer Finance Corporation is a large and popular consumer finance company in the Philippines. It was one of the first to introduce an automated loan application system in the country. The company is also said to have ties with global giant MasterCard International.

    ACOM is involved in multiple businesses, including loans, credit cards, guarantees, loan servicing, overseas finance, etc. It is one of the leading personal loan companies in the Philippines, which is also authorized and registered under the SEC. The total capital of the company is ₱500 million. The company was established on July 17, 2017. It was launched with a partnership agreement between ACOM Co., Ltd. (Japan) and Itochu Corporation (Japan).

    Pros and cons

    Before trusting a company, it is important to assess its strengths and weaknesses. One should take out a loan after properly analyzing and deciding what is best for them.

    Pros

    • The bank has been ranked as one of the Philippines’ largest and most well-recognized consumer finance companies. It has established a strong record of innovation within the industry.
    • The bank offers good personal loan options with competitive interest rates.
    • The bank has 10 branches, including booths in Metro Manila, ready to serve its customers.

    Cons

    • The rejection rate is more even if the customers provide the required documents.
    • The rate of interest is higher every month.
    • Many customers complained about incompetent staff and poor customer service.

    Loan conditions

    ACOM Consumer Finance Corporation provides flexible financing options. Here, the loans can range from a term of 6 months to 10 months. The applicant can avail of a minimum loan of ₱3,500, whereas the maximum loan amount can go up to ₱500,000. These loans come with interest rates ranging from 3.315% to 4.563% per month.

    To be eligible for the loan, one should be at least 21 years old but not more than 65 years old upon loan maturity. The person must have a working tenure of at least three months. They must have earnings of over ₱7,000. Apart from that, they are also required to present their existing workplace landline phone number and personal mobile number for verification purposes.

    Loans types

    ACOM provides personal loans with low-interest rates under the name REVOMAX loan. This product’s unique characteristic is that customers can repeat this loan once they have repaid it, without presenting any additional paperwork. Apart from that, the company also allows additional borrowings within the credit limit during the payback period. However, this completely depends on the borrower’s profile.

    ACOM

    FAQ

    What is ACOM Consumer Finance Corporation?

    ACOM is one of the Philippines’ largest and most well-known consumer finance companies. The company offers multiple financial services to its customers, including loans, credit cards, foreign remittances, etc.

    Who owns ACOM Consumer Finance Corporation?

    ACOM Co., Ltd. (Japan) is the parent company and the major shareholder, which keeps around 80 % of its total ownership.

    How do you qualify for ACOM Consumer Finance Corporation?

    To qualify for a loan successfully, you must be at least 21 years old but not more than 65 years old upon loan maturity. You must have three months or more of active employment with a minimum monthly income of ₱7,000.

    Is ACOM Consumer Finance Corporation a legitimate company?

    Yes, it is a legit company as ACOM Philippines is registered under the SEC to offer all its financial services.

    What is the maximum personal loan amount?

    The company offers a loan limit of up to ₱500,000, but the final loan amount depends upon the applicant’s credit profile.

    For what period can I take out a personal loan?

    ACOM Consumer Finance Corporation provides flexible loan term options ranging from 6 to 10 months. Customers can select a longer duration as the bank also offers customized loan terms.

    What are the requirements for personal loans?

    The applicant applying for a loan should be at least 21. They also have to submit a valid government-issued ID, employment proof, and TIN proof.

    What is the longest personal loan term?

    The bank offers customized loan terms so that the longest duration will depend on the applicant’s requirements.

    What is the duration of personal loan processing?

    According to the bank’s official statement, they try to complete the loan processing within a day.

    What is more profitable, a long personal loan term or a short one?

    If you have a regular and good source of income, go for short-term tenure as they are less costly, and the interest payment will reduce significantly.

    Financial products

    ACOM
    REVOMAX loan
    Rating by Finanso®
    i

    The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

    Recommended FinScore™
    0
    300
    650
    1000
    ₱3,500-₱500,000
    Rate
    i

    Effective interest rate on the product

    3.315% - 4.563% per month
    Term
    i

    Loan term for the financial product

    up to 12 months

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