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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EastWest Auto Loan
Get The Cheapest Car Loan Rates With EastWest Bank Auto Loan. Flixible Payment Term, Fast And Easy Application Online! Apply Now!
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
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
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
Refinancing
Use Owned Vehicle as Collateral for Loan
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 | 10.75% | |
| Interest Rate for fixed 3 Years | 17.50% | |
| Interest Rate for fixed 4 Years | 24.10% | |
| Interest Rate for fixed 5 Years | 32.00% |
FAQs
What are the required documents to apply for EastWest Bank car loan?
Employed:
- Completely filled-out Application Form
- Identification Papers e.g. Driver's Licence, SSS/GSIS cards, Passport, etc.
- Income Tax Return
- Certificate of Employment
Self-Employed:
- Completely filled-out Application Form
- Identification Papers e.g. Driver's Licence, SSS/GSIS cards, Passport, etc.
- Business Registration Certificate
- Business Permit
- Financial Statement (for the last 3 years)
- Bank Reference/Statements
- Proof of other Income Sources
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.