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 |
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 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 |
FAQs
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.