ACOM Revomax Cash Advance Review: What's The Real Deal? (2023)

Written byMarc Adrian

What is an ACOM Revomax loan?

ACOM is a non-bank financial institution from Japan. They offer consumers financial services in the form of unsecured loans.

Do you know fast cash loans? This loan is one of them, but with an even better deal. Like any personal loan,ACOM Revomax-Bardarlehenpromises one-day credit approval and relatively less stringent requirements and application procedures. The difference with other providers is that the loan amount can increase over time to a maximum of ₱ 500,000 once the loan period has expired.

One of the most unique offers of the ACOM instant loan is the option to pay only the minimum (8%) of your outstanding balance. They have three channels through which customers can apply for a loan: their mobile app, their website and their physical stores.

ACOM Revomax Cash Advance Review: What's The Real Deal? (1)

(Video) ACOM Cash Loan: Watch this Before You Apply

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Feature Highlights

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  • Personal loan without collateral
  • 1 day permit
  • No security and no co-creator required
  • Incremental credit amount after completing a credit cycle.
  • First loans up to ₱10,000
  • Maximum loan amount of ₱500,000
  • 3.315% – 4.563% monthly interest
  • You can choose to pay only 8% of the outstanding balance.
  • The application can be made via the app, the website or the physical store.

Criteria to qualify for ACOM Revomax cash advance

  • Filipino, 21 to 65 years old
  • Duration of work at least three months
  • Minimum income of at least ₱7,000
  • An existing landline at work and a personal mobile phone number. However, this is not required for freelance ESL teachers and partner riders/riders.

Additional requirements for starters

Self-employed freelance ESL teachers (51Talk, ACADSOC, Weblio, Rarejob, Bizmates, etc.) and freelance partner riders/drivers (Grab, Angkas, Lalamove, Foodpanda, etc.)

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  • 1 current government. Issued ID: (TIN, SSS, GSIS, UMID, Passport, Driver's License, Zip Code, Voter ID, PRC, NBI Approval)
  • Statement of Income: Screenshot of the applicant's company app showing consecutive pay periods that add up to the monthly salary.
  • Proof of TIN: TIN card, applicable BIR 2316, company ID card, pay stub (not required if the ID card or employment certificate contains the TIN).

For employees

  • 1 current government. Issued ID: (TIN, SSS, GSIS, UMID, Passport, Driver's License, Zip Code, Voter ID, PRC, NBI Approval)
  • Proof of employment: COE or company ID and last pay slip within 15 days or BIR2316
  • Proof of TIN: TIN card, applicable BIR 2316, company ID card, pay stub (not required if the ID card or employment certificate contains the TIN).

Repeat borrowers

  • No additional requirements are required upon renewal.

low interest rate

3,315% - 4,563% per month (39,78% - 54,756% JKP)

Loan term and repayment

The initial loan only has a term of six months, but subsequent loans can have a term of up to five years. With the minimum repayment option, ACOM allows borrowers to repay only 8% of the outstanding amount each month. However, the total loan amount must be paid at the end of the term.


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  • Administration Fee - ₱1,000.00
  • Withdrawal and miscellaneous charges - ₱500.00 (loan charges)
  • Transfer costs (depending on transfer costs)

What sets ACOM Revomax cash advances apart from other loans?

At first glance, this loan product is similar to previous products, but differs in a unique repayment system, renewal policies, requirements, and targeting specific self-employed individuals such as ESL teachers and Grab partners.

You also have the option to apply in person or online, whichever you prefer. However, the in-person application is limited to Metro Manila as there are no branches outside the region.

The ability to pay only a minimum amount of your outstanding balance, less than the monthly fee, is a unique feature of ACOM. It's the same as credit card payment systems that offer you flexible monthly payments. This allows you to pay less in months when money is tight and gives you some options for managing your budget. However, there is a risk that your debt will explode because you still have to pay off the entire loan amount at the end of the term.

The loan amount also starts small, but you can unlock larger amounts as you prove your solvency and build a good balance of payments with ACOM. This means you have to slowly build up your credit history with the company before you can take out bigger loans.

With an unsecured loan, the maximum loan amount of ₱500,000 is also very unusual for this type of loan. However, it will come with high interest rates as the interest rate on the loan is not the best in the market. So make sure you only borrow the amount you can afford.

What we like about ACOM Revomax cash loan (benefits)

  • The only non-bank unsecured personal loan that provides a loan amount of up to ₱500,000. While it may take some time and some credit building to reach this amount, the fact that it is offered as an unsecured loan, and even more so from a non-banking institution, already gives ACOM an edge over its competitors.
  • 1 day approval of your application, provided you have met all requirements on the same day.
  • ESL freelancers, food delivery workers, and car-sharing partners are specifically named in their skilled occupations, making them more inclusive of unconventional workers.
  • The requirements are very minimal and paperless as you only need to upload everything on the website or app.
  • Another unique approach is their repayment system, which allows borrowers to pay only the minimum amount of their outstanding balance. While we don't recommend paying only the minimum amount, it gives your borrowers a more flexible payment option.

What you should pay attention to before applying for this loan

All in all, this personal loan is a very customer-friendly and extensive product, but not without conditions that you have to think about carefully.

  • Their marketing and advertising state the prices up front, although they downplay it by emphasizing the monthly response to their annual prices.
  • Your initial loan starts at ₱10,000 and the loan period is set at 6 months with an interest rate of 3.315% - 4.563% per annum. month. Assuming you get the higher interest rate of ₱4,563 when evaluating your loan, the estimate of your interest rate over 6 months will be at least ₱2,737. It may not seem like much if you break it down into 6 month installments along with the principal, but if you finally decide to go for a larger amount, the larger the principal and the longer the payment term, the higher the interest. So before you decide, sleep on it and do the math to see how it affects your cash flow and the size of your payments.
  • Another important aspect of this loan to take into account is the repayment system, which means that you only have to pay a minimum amount of the outstanding balance (8%). While this makes payment more flexible, it also encourages a bad financial habit, as you should pay off your debt immediately whenever possible to avoid other charges and not to reinforce such a payment habit.

ACOM Revomax cash advance is one of manyfast cash loansthat are on the market today. It has its pros and cons, but ultimately it depends on how urgent your needs and your cash flow are whether this loan is the best for you. If you just need quick cash to cover emergency expenses that can't wait until payday, this loan may be for you. If you want a loan with a reasonable term and interest, this loan can work, but there may be other options on the market that better suit your cash flow.

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How fast is ACOM loan approval? ›

How fast is the loan process? The loan process is within 3-5 days and a day at its shortest but it still depends on your credit evaluation and other circumstances like HR verification etc. How will I know if my loan application has been approved? Once approved, you will receive a confirmation via SMS.

How much is the maximum loan in ACOM? ›

You can borrow anywhere from ₱3,500 to ₱500,000 for your first ACOM loan. This ACOM revolving loan allows you to borrow an additional amount within your credit limit (up to ₱500,000) during your repayment period. Thus, you can use your REVOMAX loan consecutively with just one contract.

How do you get approved for ACOM? ›

How to Apply
  1. Prepare Gov. ID, Employment Proofs & TIN Proof. *No need for TIN proof if you already have it on the Govt. ID & Employment Proof. ...
  2. Apply. Click to Apply Online Choose a location code to handle your application
  3. Get Your Cash. Deposited to your bank account, GCash, Maya or get it from LBC.

What happens if you don't pay ACOM? ›

If I don't pay Acom loan

This means that the company will collect your debt, but only through legal means. For example, Acom has the right to call you at the phone number you listed on the form. The company representative can also call your contacts.

How long is the loan approval process? ›

From application to approval and closing, getting a mortgage can take anywhere from 30 days to 60 days. However, some home purchases can take longer, depending on factors unique to the purchase transaction and the home loan processing time.

How long does it take for a loan to be granted? ›

How Long Does It Take To Get a Loan?
Online LendersTraditional Banks or Credit Unions
Application TimePlan for 15 minutes or soPlan for 15 to 60 minutes
Approval TimeThree to seven daysSame day to several days
Funding After ApprovalOne to seven business daysSame day to several days
1 more row
Nov 2, 2021

What is the maximum borrow limit? ›

A maximum loan amount describes the total sum that one is authorized to borrow on a line of credit, credit card, personal loan, or mortgage. In determining an applicant's maximum loan amount, lenders consider debt-to-income ratio, credit score, credit history, and financial profile.

How do I request an extra loan from ACOM? ›

𝟭. Message ACOM SMS Service, text 𝗔𝗖𝗢𝗠𝗟𝗢𝗔𝗡 and send it to 𝟬𝟵𝟭𝟳𝟲𝟮𝟲𝟭𝟬𝟲𝟯 (𝗚𝗹𝗼𝗯𝗲) or𝟬𝟵𝟬𝟴𝟴𝟭𝟭𝟰𝟰𝟯𝟵 (𝗦𝗺𝗮𝗿𝘁), then choose 𝟯 '𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗮𝗱𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗹𝗼𝗮𝗻𝗮𝗯𝗹𝗲 𝗮𝗺𝗼𝘂𝗻𝘁'. 𝟮. Accept your additional loan offer thru 𝗧𝗲𝗹𝗲𝘀𝗮𝗹𝗲𝘀.

What is the interest rate on ACOM Revomax? ›

You can borrow amounts from as low as ₱20,000 up to ₱2,000,000 at a competitive interest of 15.16% per annum. The best part is the fast approval duration of up to 24 hours.

Can I borrow money from billease? ›

Enjoy instant credit up to P40,000 which you can use for online shopping even without a credit card or get a personal loan with payback options from 30 days or up to 12 months.

Is an ACOM a SEC registered? ›

ACOM is one of the Leading Personal Loan Companies in Japan and is Authorized and Registered by the SEC. in the Philippines.

How do I pay my ACOM in 7 Eleven? ›

  1. Go to 7-Eleven Cliqq Kiosk.
  2. Click Bills Payment.
  3. Click More Bills.
  4. Loans.
  5. Choose ACOM.
  6. Enter 11-Digit Membership No. ( eg. 00010123456)
  7. Enter ACOM Registered Mobile No.
  8. Enter Amount.

What does ACOM bank stand for? ›

The name "Acom" stands for Affection, Confidence and Moderation. The company was founded by Masao Kinoshita, who was later replaced by his eldest son Kyosuke Kinoshita, the current chairman of the company. In addition to providing loans, Acom issues credit cards.

How do I cancel my ACOM loan? ›

Right to Cancel

A borrower may also cancel a loan within 14 days from the date the loan was disbursed to the student's account. A borrower who wishes to submit a cancellation request past the deadline should contact the Office of Financial Aid for more information.

How do I qualify for a PayMaya loan? ›

PayMaya loan requirements
  1. You must be an adult citizen of the Philippines.
  2. You must be a regular PayMaya customer.
  3. You must download the PayMaya app.
  4. You must verify your identity by speaking to an employee on a video call.
  5. You will then be offered amounts to borrow. With each new loan, the amount will increase.
Oct 4, 2022

What happens when your loan is approved? ›

Once your loan is approved, you will get a commitment letter from the lender. This document outlines the loan terms and your mortgage agreement. Your monthly costs and the annual percentage rate on your loan will be available for review. Any conditions that must be met before closing will also be documented.

What happens after your loan application is approved? ›

After the lender approves your loan, you will get a commitment letter that stipulates the loan term and terms to the mortgage agreement. The commitment letter will include the annual percentage rate and the monthly costs to repay the loan. It will also include any loan conditions prior to closing.

How do you know if you are approved for a personal loan? ›

You are almost certain to be approved by at least some lenders for a personal loan if you have good credit, make enough money to easily repay your loan, have been at your job for a while, and your debt-to-income ratio is below 35% -- even when factoring in the payment on the loan you're applying for.

What does loan pending approval mean? ›

Pending Approval: This means you've successfully raised the amount of your loan and your loan is pending disbursal.

How often do loans get denied? ›

An underwriter denies a loan about 10% of the time. An application may be rejected because of high debt, irregular employment, or a low appraisal value. The entire underwriting process takes approximately 52 days to complete. Getting preapproved for a loan doesn't guarantee your loan application will be accepted.

Can you open a bank account and get a loan the same day? ›

If you take out a same-day loan, you may be able to access the money in your bank account as early as the same day you apply. But as with other personal loans, same-day loans may come with fees, such as origination fees, and you can expect to pay interest on the amount you borrow.

How much would a 5000 loan cost per month? ›

Based on the OneMain personal loan calculator, a $5,000 loan with a 25% APR and a 60-month term length would be $147 per month. The loan terms you receive will depend on your credit profile, including credit history, income, debts and if you secure it with collateral like a car or truck.

What is the minimum income for a personal loan? ›

You need at least $10,500 in annual income to get a personal loan, in most cases. Minimum income requirements vary by lender, ranging from $10,500 to $100,000+, and a lender will request documents such as W-2 forms, bank statements, or pay stubs to verify that you have enough income or assets to afford the loan.

What is the lowest amount of money you can loan? ›

For the most personal loan lenders, $1,000-$5,000 is the lowest amount you can borrow. But the minimum loan amount can vary substantially from one lender to another.

Can I borrow more on my existing loan? ›

Yes, you can. As mentioned, lenders are usually ready to approve additional borrowing on a mortgage to help you consolidate your debts. In fact, they often see it as a way to limit the risk that you will fall behind on your mortgage.

Can you apply for a loan twice? ›

You're quite entitled to apply for as much credit as you wish. But there are consequences for your credit rating when you apply for more than one loan or credit card in a short period of time. Multiple loan applications can actually make it more difficult for you to obtain credit.

Can I add more to my loan? ›

If you've already taken out a loan but need additional funds, you might be wondering if you can add to your existing personal loan. In most cases, the answer is no. You can't increase your loan amount, but you may be able to apply for a second loan. Technically, there's no limit to how many personal loans you can have.

How is revolving credit interest calculated? ›

From there, the revolving line of credit interest formula is the principal balance multiplied by the interest rate, multiplied by the number of days in a given month. This number is then divided by 365 to determine the interest you'll pay on your revolving line of credit.

What is an example of revolving interest? ›

Revolving Interest Example

Say you paid the loan down to $3,000 on June 16. Now multiply 3,000 by 0.4, then multiply by 15 (days) and divide by 365. Your interest fee for the remainder of the month is $49.32. Add both figures together and you get $213.70, the total interest due for the month of June.

What is the interest rate of ACOM? ›

Interest rate per month is 4.988%.

What is the highest credit limit in BillEase? ›

How much credit can I get with BillEase? If you pass BillEase minimum credit criteria, you will be allocated an initial limit between ₱2,000 to ₱10,000. If you use BillEase every purchase and pay on time, your limit can increase up to ₱40,000.

How to borrow money from Tala? ›

How to apply for a Tala loan in minutes
  1. Have an android phone with an M-PESA line. ...
  2. Download the Tala app on Google Play. ...
  3. Sign in to register with Tala. ...
  4. Complete our short application. ...
  5. Choose a repayment date that works for you. ...
  6. Receive your money straight to your MPESA.
Mar 9, 2022

Is ACOM for profit? ›

It is the first osteopathic medical school in the state and is believed to be the first osteopathic medical school in the nation established by a regional not-for-profit hospital.
Alabama College of Osteopathic Medicine.
Other nameACOM
ChairmanJohn McDaniel
PresidentRichard O. Sutton, III
DeanJames C. Jones
8 more rows

Is Heromining SEC registered? ›

Based on the Commission's database, HEROMINING/HERO MINING/HERO MINING INTERNATIONAL GROUP, is NOT REGISTERED as a corporation or partnership and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of ...

Are hedge funds registered with the SEC? ›

Hedge funds are typically required to register with the SEC if they maintain investor assets of more than $100 million.

Can you cash a check at a 7 11 ATM? ›

7-Eleven Inc.'s customers will soon be able to cash checks, purchase money orders and even buy tickets and shop online via automated teller machines (ATM) in the company's ubiquitous convenience stores.

Does 7 11 accept PayPal? ›

7-Eleven Joins List of PayPal Cash Locations | Convenience Store News.

Does 7 11 accept online payment? ›

Transact e-services or pay your bills with ease at a 7-Eleven near you!

What bank does China own? ›

State-owned Commercial Banks
Industrial and Commercial Bank of China*ICBCBeijing
China Construction Bank*CCBBeijing
Bank of China*BOCBeijing
Agricultural Bank of China*ABCBeijing
2 more rows

What bank is China using? ›

Industrial and Commercial Bank of China (ICBC)

What is ACC bank? ›

ACC Loan Management Limited, formerly ACCBank plc, was originally a commercial bank in Ireland that focused on agriculture and SME lending, and later became a company that focussed on managing the lending facilities of its existing clients.

How fast is ACOM approval? ›

How fast is the loan process? The loan process is within 3-5 days and a day at its shortest but it still depends on your credit evaluation and other circumstances like HR verification etc. How will I know if my loan application has been approved? Once approved, you will receive a confirmation via SMS.

What is the maximum loan amount in ACOM? ›

You can borrow anywhere from ₱3,500 to ₱500,000 for your first ACOM loan. This ACOM revolving loan allows you to borrow an additional amount within your credit limit (up to ₱500,000) during your repayment period. Thus, you can use your REVOMAX loan consecutively with just one contract.

Can I cancel a loan after accepting? ›

After Your Loan Is Disbursed

You have the right to turn down a loan or to request a lower loan amount. If you accept less than the full amount of the loan you're offered, you can increase the amount (up to the offered amount) later on. Was this page helpful?

How do you get 500 on PayMaya? ›

Earn up to P500 when you Send Money with PayMaya!
  1. Open the PayMaya app and log in to your account.
  2. Tap “Vouchers” in the home screen.
  3. Select the voucher you want to redeem under “Available” and tap “Claim”
  4. Review the details and amount of the voucher and tap “Claim Now”

Can I borrow money from Maya? ›

Maya's Loan Products

Your credit limit gets replenished after payments are made. Maya Credit works just like a credit card without the hassle of applying for a loan. You can use it for your daily or monthly spending needs by transferring your available credit to your Maya Wallet or via web checkout.

Can I borrow money from Shopee? ›

Para sa Taglish version ng article, basahin dito. SLoan is a new feature where you can get fast and accessible cash loans. Eligible Shopee buyers can get access to loans at competitive interest rates, with flexible options to repay in 3, 6, or 12 months (12 months available to selected users only).

What is the maximum loan percentage? ›

According to the guidelines issued by the Reserve Bank of India (RBI), the LTV ratio for home loans can go up to 90% of the property value for loan amounts of Rs. 30 lakh and below.

How do I find the maximum amount of loans? ›

Therefore, to get the maximum amount of loans that can be issued, you multiply the size of the deposit by 1 minus the reserve ratio.

What is 40% rule for loan? ›

Maximum Monthly Debt Payment — The 40% Rule

Lenders review your financial status and usually do not grant a loan when all of your outstanding financial obligations exceed 40% of your monthly income.

What does 80% loan-to-value mean? ›

What is loan-to-value ratio? The loan-to-value ratio is the amount of the mortgage compared with the value of the property. It is expressed as a percentage. If you get an $80,000 mortgage to buy a $100,000 home, then the loan-to-value is 80%, because you got a loan for 80% of the home's value.

How loan amount is calculated? ›

Illustration: How is EMI on Loan Calculated?
  • Formula for EMI Calculation is -
  • P x R x (1+R)^N / [(1+R)^N-1] where-
  • P = Principal loan amount.
  • N = Loan tenure in months.
  • R = Monthly interest rate.
  • R = Annual Rate of interest/12/100.

How much can I borrow from cash App? ›

Cash App allows eligible users the ability to borrow up to $200 through the app, which must be paid back within four weeks along with a flat 5% fee on the loan.

What is the base loan amount? ›

The base loan amount equals the purchase price minus the down payment. The final loan amount adds the upfront MIP to the base loan amount. For example: a $200,000 home with a 3.5% down payment of $7,000 has a base loan amount of $193,000 ($200,000 sales price minus the $7,000 down payment).


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