Eastwest Auto Loan
EastWest Bank Car Loan is a complete financial product that is designed to fit the diverse needs of borrowers for a car loan. Strong loan disbursal and other great add-on benefits makes EastWest Bank auto loan the best of its kind in the market.
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Product Overview
| Product Name: | Eastwest Auto Loan |
| Remarks: | Simple and fast loan processing |
| Minimum Amount of Loan: | PHP100,000.00 |
| Maximum Amount of Loan: | PHP5,000,000.00 |
| Minimum Loan Tenure: | 1 years |
| Maximum Loan Tenure: | 5 years |
| Early Repayment: | |
| Vehicle Insurance Included | NO |
| Accepts Third Party Vehicle Insurance: | NO |
| Accepts Third Party Credit Insurance: | NO |
| Does Not Require Credit Insurance: | NO |
| Payment Options: | PDC's or ADA againts EastWest Bank deposit account |
| Application Approval Time: | Fast processing of 1 day only, when you submit your complete documentation |
Product Overview
Interest Rates Offered
| Interest for | Fixed Period Interest Rate Per Year: | Effective Interest Rate Fixed Period: |
|---|---|---|
| Interest Rate for fixed 1 Year | 4.95% | |
| Interest Rate for fixed 1 1/2 Years | 7.50% | |
| Interest Rate for fixed 2 Years | 9.85% | |
| Interest Rate for fixed 3 Years | 17.50% | |
| Interest Rate for fixed 4 Years | 24.10% | |
| Interest Rate for fixed 5 Years | 32.00% |
Vehicle Types and Loan Purpose
| Eligible Vehicle Types: |
Sedan Asian Utility Vehicle Sports Utility vehicle Van |
| Vehicle Loan Proceeds Can Be Used For: |
Purchase of Brand New Car Purchase of second Hand Car Refinancing Use Owned Vehicle as Collateral for Loan |
Eligibility and Requirements
| Age Range of Borrower: | 21-70 years |
| Minimum Annual Income: | PHP480,000.00 |
| Income Requirement Remarks: | Apply for as low as PHP40,000.00 monthly income |
| Employment Work Status |
Employed-Private Sector for 1 year Employed-Government for 1 year Self Employed for 3 years Professional for 2 years Employed-BPO for 1 year Employed-OFW/Seafarer for 1 year |
| Applicant Must Have A Landline Phone at Home or Office: | NO |
| Need to Open Linked Bank Account: | NO |
| Guarantor Requirements: | NO |
| Collateral Requirements: | NO |
Fees and Charges/Penalties
FAQ
What are the required documents to apply for Eastwestbank car loan?
Employed:
- Completely filled-out Application Form
- Income Tax Return
- Certificate of Employment if employed
If engaged in Business:
- Business Registration Certificate
- Business Permit
- Financial Statement (for the last 3 years)
- Bank Reference/Statements
- Proof of other Income Sources
- Identification Papers e.g. Driver's Licence, SSS/GSIS cards,
- Company ID, Passport, etc.
Corporate:
- Completely filled-out Application Form
- Financial Statements for the last 3 years (both Audited and In-House)
- Articles of Incorporation
- By-laws
- List of Major stockholders, addresses and ownership
- List of principal officers, positions, and addresses
- Company Profile
- Business write-up
- Trade References - at least 3 major suppliers and 3 major clients
- Bank References (Deposit Accounts; Credit Lines and existing/paid loans)
Bank Document:
- Chattel Mortgage/Promissory Note
- Disclosure Statement
What is the loan tenure for Eastwest bank auto loan?
- EastWest Bank auto loan offers Flexible Payment Terms of 12 months up to 60 months.
What is the mode of payment for Eastwest bank car loan?
- Borrower can pay either through issuance of Post-Dated Checks (PDCs), or Automatic Debit Arrangement (ADA) against an EastWest Bank deposit account.
