A Complete Guide To ACOM Personal Loan In Malaysia

Financial challenges can arise unexpectedly, and having a trusted financial partner can make all the difference. ACOM is an accredited financial institution in Malaysia. As a licensed moneylender, it is dedicated to offering simple, transparent, and efficient loan solutions.

Whether it’s for emergencies, debt consolidation, or personal projects, ACOM provides two key services: the Online Personal Loan and the Top-Up Loan.

This guide covers everything you need to know, from eligibility requirements to application steps, loan options, and repayment processes.

What is ACOM?

Acom Co. Ltd was established as a consumer finance company in Japan back in 1978. Since then, it has become a household name in personal loans. In 2008, ACOM Japan became a subsidiary of the global finance corporation, Mitsubishi UFJ Financial Group (MUFG).

In 2022, ACOM (M) Sdn Bhd (ACOM) received its moneylending license under Malaysia’s Ministry of Housing and Local Government (KPKT). It has also secured its Online Personal Loan Licence in Malaysia from January 2024.

Their transparent processes and fast approvals make them a go-to choice for those seeking financial assistance. So, now that we know what ACOM actually is, let’s have a look at their offerings.

Eligibility requirements

But before we look at their offerings, first we must understand the eligibility requirements for an ACOM loan. Here are the criteria that you must meet to apply for an ACOM loan;

Age: Applicants must be between 21 and 60 years old.

Income: A stable monthly income is required, typically starting from RM2,000 or above (subject to terms).

Residency: Applicants must be Malaysian citizens or permanent residents.

Bankruptcy status : Applicants must not be bankrupt.

So now that’s out of the way, let’s move on to ACOM’s first product, the ACOM Online Personal Loan.

ACOM’s Online Personal Loan

ACOM’s Online Personal Loan is designed for individuals seeking a quick and straightforward borrowing experience. Boasting a streamlined application process and a quick approval process, ACOM’s Online Personal Loan product is a worthy option to consider if you’re looking for financing options.

ACOM’s Online Personal Loan offers a financing amount of RM250 to RM100,000, with a repayment tenure of six (6) months to sixty (60) months.

Now, let’s have a look at how to apply for the loan.

Required documents

To apply for an Online Personal Loan, ensure you have the following:

• A copy of your identification card (MyKad).
• Latest 2 months salary crediting bank statement (in PDF)
• Latest 2 months salary slip (in PDF)　And/or
• Latest EPF statement (in PDF)
• Latest utility bill (water, electricity, etc.

Step-by-step application process

Visit the ACOM Website: Navigate to the loan application page.

Fill out the online form: Provide your personal details, loan amount, and repayment tenure.

Upload required documents: Attach all necessary documents for verification.

Submit your application: Double-check the information and submit the form.

Wait for approval: ACOM processes applications swiftly, and you’ll typically receive a decision within 24 hours.

Approval process

Once your application is reviewed and approved, you’ll be notified via email or phone. ACOM ensures quick approvals, helping you address your financial needs without delay.

Disbursement of funds

Upon approval, the loan amount is directly transferred to your bank account within one to three working days.

Factors influencing ACOM loan interest rates

If you look at the interest rate of ACOM’s Online Personal Loan, you will see that the interest rate varies up to 18%. So how is the interest rate calculated?

Credit score: A higher credit score often results in lower interest rates.
Income stability: Consistent and sufficient income may qualify you for better rates.
Loan amount and tenure: Larger loan amounts or longer repayment periods may affect the interest rate.
Existing debt: A lower debt-to-income ratio can improve your eligibility for favorable terms.

Top-Up Loan: Additional financial support for existing customers

ACOM’s Top-Up Loan is a unique offering from ACOM. It allows existing customers to add extra funds on their existing loans.

How to apply for a Top-Up Loan

Log In to your ACOM account: Use your registered credentials on the ACOM website.
Select Top-Up Loan: Navigate to the Top-Up Loan section and specify the additional amount required.
Review and submit: Confirm the new terms and submit your request.

Approval and disbursement

The approval process is fast, leveraging pre-verified information from your initial application. Once approved, the top-up amount is added to your existing loan and credited to your bank account.

Repayment process and benefits of ACOM loans

Repayment process

ACOM ensures a straightforward repayment experience:

Flexible options: Pay monthly installments online or through authorized payment channels.
Timely reminders: Receive reminders to help you avoid late fees and maintain good credit standing.

Why choose ACOM?

Transparency: No hidden fees or unclear terms—everything is upfront.
Speed: Fast application processing and disbursement make ACOM ideal for urgent needs.
Convenience: Both application and repayment can be managed entirely online.
Customer support: Dedicated support teams are available to assist you throughout the process.

Conclusion

When financial needs arise, ACOM’s Online Personal Loan and Top-Up Loan offer fast, reliable, and flexible solutions. With a straightforward application process, transparent terms, and convenient repayment options, ACOM stands out as a trustworthy partner for Malaysians seeking financial support.

If you’re in need of a loan, consider ACOM for a smooth and hassle-free experience. Visit ACOM’s website to apply today and take the first step toward meeting your financial goals.