ACOM Loan Reviews: Process, Requirements, and More!


ACOM Consumer Finance Corporation is a subsidiary of ACOM Holdings, a renowned Japanese public company that specializes in providing unsecured consumer loans to Filipinos through its online platform. With a strong commitment to customer satisfaction, ACOM offers fixed interest rates and flexible repayment terms.

The company aims to assist individuals facing financial emergencies by offering low-interest personal loans without the need for collateral, credit checks, or complicated paperwork. In this review, CashLoanPH will delve into the details of ACOM’s loan process, requirements, and more.

What is ACOM?

ACOM Consumer Finance Corporation, as a subsidiary of ACOM Holdings, operates as a trusted provider of unsecured consumer loans for Filipinos. The company offers its services through an efficient online platform.

Borrowers can benefit from ACOM’s fixed interest rates and flexible repayment terms, which are designed to cater to their financial needs.

ACOM loans are specifically designed to assist individuals who find themselves in a financial emergency. These loans provide quick access to cash to cover urgent expenses such as rent, car repairs, or medical bills. What sets ACOM loans apart is that they are unsecured, meaning borrowers do not need to provide any collateral to receive funds.

How does ACOM loan work?

To apply for an ACOM loan, borrowers have two options. They can either visit ACOM branches and booths located throughout Metro Manila and select provinces, or they can conveniently use the ACOM loan app available for Android and iOS devices. By downloading the app from the Google Play Store or Apple App Store, borrowers can complete the loan application process from the comfort of their own homes.

Once applicants meet the eligibility criteria and satisfy the loan requirements, they can proceed to apply for their first ACOM loan. The approval process is swift, and borrowers can expect to receive approval within minutes. The approved loan amount will then be deposited directly into the borrower’s bank account or GCash. Alternatively, borrowers can choose to collect the cash from designated LBC branches.

Repaying the loan is equally convenient, with multiple options available. Borrowers can choose to make payments through GCash, Bayad Centers, or 7-Eleven stores. These payment methods ensure ease of payment, allowing borrowers to maintain a good credit standing with ACOM.

How can I apply for a loan with ACOM?

Applying for an ACOM loan is a hassle-free process, requiring minimal documentation. To proceed with the loan application, borrowers must meet the following requirements:

General Requirements:

  • Filipino citizenship.
  • Age between 21 and 65 years old.
  • Employment history of at least three months.
  • Minimum monthly salary of P7,000.
  • Valid personal mobile number.
  • Existing company landline phone.

Employee Requirements:

  • One valid Government-issued ID.
  • Acceptable options include Philsys, UMID, SSS, GSIS, Passport, Driver’s license, Postal ID, Voter’s ID, PRC, or NBI clearance.
  • Proof of Employment (choose one):
    • Certificate of employment.
    • Company ID.

Proof of Tax Identification Number (TIN):

  • TIN Card.
  • BIR Form 2316 (Certification of employee’s income and taxes withheld).
  • Payslip.
  • Company ID.

How to check ACOM loan status?

Upon completing the loan application process, the loan approval is typically completed within the same day. Borrowers will receive a confirmation of their ACOM loan approval via SMS. In the event that no confirmation is received, borrowers can check the status of their loan application by contacting ACOM’s customer service through the designated ACOM loan contact number. The customer service team will require the following information to provide an update on the loan status:

  • Full Name.
  • Date of Birth.
  • Mobile Number.
  • Application Date.
  • Application channel: Online, Branch, or Booth.

Additionally, ACOM provides an SMS service that enables borrowers to conveniently check their available loan payment, due date, balance, and payment status. Borrowers can also use this service to update their personal information.

How much does ACOM loans cost?

ACOM offers a flexible loan amount ranging from P5,000 to P500,000, depending on the borrower’s credit evaluation. The interest rates vary from 3.315% to 4.563% per month, resulting in an Annual Percentage Rate (APR) ranging from 39.78% to 54.756%. Borrowers who make early payments before the release of their Statement of Account will benefit from a diminishing interest rate. However, if borrowers fail to make early payments, the interest rate will be calculated as 8% of the outstanding principal balance. To calculate the monthly payment, borrowers can utilize the ACOM personal loan calculator.

It’s important to note that ACOM charges a processing fee of P1,000 and a lending fee of P500. However, these fees are waived for repeat borrowers, those applying for an ACOM additional loan, or borrowers opting for an ACOM revolving loan. It’s crucial for borrowers to consider these fees when applying for a loan. The loan terms offered by ACOM are either six months, ten months, or flexible, depending on the loan amount and credit evaluation.

How do I repay my ACOM loan?

ACOM offers multiple payment channels to facilitate loan repayments. Borrowers can make payments through the following partner payment channels:

  • 7-11 (Through EC Pay).
  • Bayad Center branches.
  • GCash.
  • PayMaya.

How to pay ACOM loan through GCash?

Paying an ACOM loan using the GCash app is a simple process. Borrowers can follow these steps:

  • Log in to their GCash account.
  • Navigate to the “Pay Bills” section.
  • Select “Loans.”
  • Choose “ACOM.”
  • Enter the following information:
    • 11-digit ACOM account number.
    • 11-digit mobile number (the same number used in the loan application).
    • Exact loan payment amount.
    • Optional email address for record-keeping.
  • Review the payment details and proceed with the payment.

How to pay ACOM loan in 7-11?

To make an ACOM loan payment at a 7-11 branch, borrowers should follow these steps:

  • Visit the nearest 7-11 branch with payment kiosks.
  • Select the ECPay option.
  • Enter the 11-digit membership number, starting with 0001.
  • Input the payment amount.

How to pay ACOM loan online?

Currently, ACOM loan payments can only be made through the GCash and PayMaya mobile apps or at 7-11 branches (ECPay).

Is ACOM a legitimate company?

Yes, ACOM Consumer Finance Corporation is a legitimate company registered with the Securities and Exchange Commission (SEC) and fully compliant with Philippine laws. ACOM has been operating since 2017 and has established a good reputation online for providing loans to Filipinos.

ACOM app

The ACOM loan Philippines app is available for Android and iOS devices and can be downloaded from the Google Play Store and Apple App Store. The app offers a user-friendly interface, making it easy for borrowers to apply for personal loans anytime, anywhere. The app is particularly useful for individuals facing personal emergencies or those seeking lower interest rates and shorter loan terms. Its intuitive layout andfunctionality ensure a seamless user experience, even for first-time users.

ACOM customer service

ACOM provides reliable customer support from Monday to Friday, between 9:00 AM and 6:00 PM. Borrowers can reach out to ACOM’s customer service team through the following contact details:

Phone numbers:

  • (02) 5304-5200 Mobile (for calls only):
  • 0917-713-9761 (Globe)
  • 0919-077-6787 (Smart) Email address:
  • [email protected]

ACOM complaints

Some complaints regarding ACOM focus on the perceived slow loan approval process, with borrowers experiencing delays of several days before receiving approval. Additionally, the lack of updates from ACOM frustrates borrowers, as they remain unaware of the status of their loan applications.

Furthermore, some borrowers express concerns regarding the sensitive information ACOM requests, fearing the possibility of identity theft or fraudulent activities. Others find the loan disbursement process to be time-consuming and burdensome.

ACOM reviews

ACOM loan reviews reflect a mixed sentiment among users. On the Google Play Store, ACOM has an average rating of 3.5 stars, while on the App Store, it has an average rating of 3.0 stars. While there are dissatisfied users, there are also positive reviews highlighting specific aspects of ACOM loans. Many borrowers appreciate the higher loan amounts approved compared to other online lenders, even for first-time borrowers. Additionally, users applaud the longer loan terms of 6 and 10 months, which provide borrowers with more time to repay their loans, reducing financial burdens and stress.

In conclusion, ACOM Consumer Finance Corporation offers unsecured consumer loans with fixed interest rates and flexible repayment terms. With a user-friendly online platform and convenient payment options, borrowers can easily access funds for various financial emergencies. While there are some complaints regarding the loan approval process and information security, ACOM has garnered positive reviews for its higher loan amounts and longer repayment terms. Overall, ACOM provides a viable option for individuals in need of quick cash assistance in the Philippines.

5/5 - (12 votes)
CashLoanPH Changed status to publish 07/07/2023