EastWest Personal Bank Loan
Get a multipurpose personal loan that can fulfill a wide array of needs. Eastwest Bank Personal Loan is an unsecured and non-collateralized loan for travel, tuition, medical, home improvement and a lot more – with the benefit of low interest rates, flexible payment terms and easy application online.
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You can also check out other EastWest Bank Loan products here.
|Product Name:||EastWest Personal Bank Loan|
|Remarks:||With competitive interest rates|
|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:||Low annual income requirement|
|Employment / Work Status:||Permanent Employee for 1 year / 1 year Business Operations for Self-employed / 2 years of Practice for Professionals / Government Employee for 1 year|
|Borrower has to have Credit Card:||NO|
|Other Requirements:||Should have at least one landline number either home or office number|
|Need to Open Linked Bank Account:||NO|
Application and Approval
|Approval Duration:||3 to 5 banking days|
|Approval Duration Remarks:||Fast processing|
Fees and Charges/Penalties
|Loan Processing and Dispersal Fees:||PHP1,900.00 processing fee, plus stamp duty|
|Early Repayment Penalty:||8% of open balance, minimum PHP500.00|
|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%||Monthly Add-On Rate|
|EastWest Personal Bank Loan - 18 months||1.59%||Monthly Add-On Rate|
|EastWest Personal Bank Loan - 24 months||1.59%||Monthly Add-On Rate|
|EastWest Personal Bank Loan - 36 months||1.69%||Monthly Add-On 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.