EastWest Personal Bank Loan
|Product Name:||EastWest Personal Bank Loan|
|Minimum amount of loan:||PHP25,000.00|
|Maximum amount of loan:||PHP2,000,000.00|
|Minimum loan tenure:||12 months|
|Maximum loan tenure:||36 months|
Eligibility and Requirements
|Age range of borrower:||21-65 years old|
|Minimum annual income:||PHP180,000.00|
|Income requirement remarks:|
|Employment / work status:||Permanent Employee for 0 year / 2 years business operations for Self-employed / 0 year of practice for Professionals / Government Employee for 1 year|
|Borrower has to have credit card:||YES|
|Need to open linked bank account:||NO|
Application and Approval
|Approval duration:||3 to 5 banking days|
|Approval duration remarks:||3 to 5 Banking Days|
Fees and Charges/Penalties
|Loan processing and dispersal fees:||PHP 1500 dispersal fee, plus stamp duty|
|Early repayment penalty:||8% of open balance, minimum PHP 500|
|Late payment penalty:||8% of amount past due, minimum PHP 500|
Interest Rates Offered
|Product Name:||Interest rate||Effective interest rate||Interest type|
|EastWest Personal Bank Loan - 12 months||1.49% -1.49%||fixed Interest Rate|
|EastWest Personal Bank Loan - 18 months||1.59% -1.59%||fixed Interest Rate|
|EastWest Personal Bank Loan - 24 months||1.59% -1.59%||fixed Interest Rate|
|EastWest Personal Bank Loan - 36 months||1.69% -1.69%||fixed Interest Rate|
What are the required documents to apply for an Eastwest Bank personal loan?
- Completed and signed EastWest Bank Personal Loan Application Form, Photocopy of one (1) valid government-issued I.D. with photo.
- Provide a photocopy of BIR FORM 2316/W2 (Tax Withheld)
- Photocopy of Latest one month payslip
- Valid credit card reference or latest Statement of Account of the existing credit card
- Original copy of Certificate of Employment showing salary and position.
- Submit latest ITR and Audited Financial Statements
- Latest Statement of Account of existing credit card
- DTI Registration Certificate (for Single Proprietor), and SEC Registration Certificate (for Partnerships and Corporations).
- Note: You may provide proof of billing for further verification.
What are the modes of payment?
- You will need to issue post-dated checks prior to the release of your loan proceeds.
What are the eligibility requirements for Eastwest Bank personal loan application?
- Applicant must be a Filipino citizen, at least 21 years old and not more than 65 years old upon loan maturity, must have at least one landline number (home or business), a mobile number, and with a gross monthly income (GMI) of at least PHP 15,000.00 or annual income of not less than PHP 180,000.00.
How do I claim my Eastwest Bank personal loan proceeds?
- You can either pick up your Manager’s Check at the head office, or opt to have your loan deposited to your account.