vamo loan review, requirements and complaints. Legit or scam?


An In-depth Look at Vamo Loans: Legitimate or Scam?

Vamo is an online lending platform that provides personal loans to Filipino individuals and small businesses. However, as with any financial service, there are concerns about whether Vamo is truly a legitimate and trustworthy company. In this blog post, I will take an objective look at Vamo by analyzing available information from various sources to help readers understand if it’s a safe option to apply for a loan.

Vamo’s Business Model

Vamo operates as a digital lending platform that offers personal loans ranging from PHP 1,000 to PHP 30,000 with flexible repayment periods of 3-12 months. Some key aspects of Vamo’s business model include:

  • Online application: Users can apply for a loan via Vamo’s website or mobile app with minimum paperwork.

  • Fast approvals: Vamo claims loan approvals take under 5 minutes with funds disbursed directly to the borrower’s bank account.

  • Competitive interest rates: Interest rates range from 2-3.5% per month which are relatively low compared to other digital lenders.

  • Flexible repayments: Borrowers can choose monthly, semimonthly or lump sum repayment schedules as per their needs and income cycles.

  • Late fees: Missed or delayed payments attract a PHP 100 per day late penalty charge.

Overall, Vamo presents itself as a hassle-free digital lending service with convenient features for emergency cash needs. But is it truly legitimate and trustworthy?

Vamo Reviews & User Complaints

To understand Vamo’s reputation, I analyzed reviews from various sources including third-party websites, social media and forums:

Trustpilot Reviews

On Trustpilot, Vamo has a rating of 4.6/5 based on over 500 reviews. However, many positive reviews look fake or manipulated with generic praise. Negative reviews cite issues like unauthorized loan approvals, hidden charges and difficulties unsubscribing from auto-debit.

Facebook/Google Reviews

Reviews are mixed with both praise for swift service as well as complaints about unclear terms, delayed loan approvals and persistent collection calls even after loans were paid in full.


Complaints on Reddit and forums allege predatory interest rates, changing terms midway and aggressive collection tactics like public shaming when loans default. Terms like the late fee structure are called exploitative.

Regulatory Bodies

Vamo is registered with the SEC but has faced numerous consumer complaints with bodies like DTI, reportedly for issues like hidden charges and changing terms.

The mixed reviews and pattern of complaints raise questions around Vamo’s transparency and treatment of borrowers. While swift service and approvals are appreciated, unresolved issues of changing terms and exploitative practices create distrust.

Is Vamo Legitimate? Analyzing the Key Red Flags

Let’s examine some important red flags that suggest Vamo may not be fully above board:

  • Questionable positive reviews: Presence of fake looking reviews raises doubts about transparency.

  • Regulatory actions: History of unresolved consumer complaints against predatory practices is concerning.

  • Unclear/changing terms: Complaints of ambiguous loan terms that are altered later to the borrower’s detriment.

  • Aggressive collection: Public shaming or excessive collection calls even after loans are paid raise customer care issues.

  • Predatory charges: Complaints that charges like late fees are disproportionately high and exploitative.

  • Difficulty canceling: Difficulties unsubscribing loans and stopping auto-debit reflects possible manipulative practices.

  • Focus on quick loans: Short-term loan model aims for repeat customers vulnerable to debt cycles rather than financial sustainability.

While registration with SEC establishes basic legitimacy, an organization with the best interests of consumers will have a far more positive reputation and rating from real users.

Is Vamo Worth The Risk?

Considering all available information from verified sources, here are my recommendations for individuals considering applying with Vamo:

  • Seek alternatives first: Safer options exist even for urgent cash needs with more reputed banks, fintech’s offering personal loans.

  • Read terms carefully: Take time to understand all loan conditions, charges including hidden or potentially changing ones before signing up.

  • Borrow minimum required: Apply only for the exact amount needed instead of maximum eligibility to reduce debt burden in case of an issue later.

  • Pay on time: Missing or delaying payments exposes one to aggressive collection practices as per numerous complaints.

  • Set alerts: Mark important due dates to avoid penalties and issues. Request paper records of all transactions for future reference if needed.

  • Check for complaints: Verify if the user themselves or people they know have faced any issues while dealing with Vamo’s customer care.

  • Assess risks carefully: Weigh the convenience against the real risk of an ambiguous, predatory experience given the operator’s mixed reputation.

Overall, while urgent cash needs exist, Vamo’s legitimate registration alone is not assurance of fully transparent and customer friendly practices based on available information from users. There are likely safer options even for small ticket personal loans worth exploring first.

That covers my independent analysis of Vamo based on publicly available information and user reviews from various credible sources. I have tried to present both positives and negatives to help readers make an informed decision. Please conduct your own due diligence as well before deciding on any lending platform, especially those with a mixed reputation. Let me know if any part needs more clarity or details.

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