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Eastwest Bank Personal Loans

When people meet an unexpected financial roadblock and they have no other option but to apply for financing in order to address the financial challenges they face, it is highly important for borrowers to fully understand and analyze the best loan offer in the market that fits their needs. Included in the list of bank entities that produce such quality loan service for Filipinos is the Eastwest Bank Personal Loans.

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Written by: Piggyy

Rating

4.1/5
EastWest Bank

EastWest Bank has personal loan products for all your needs. Apply for a loan now.

Personal Loan Features

 

Loan Amounts: Php 25,000 up to Php 2,000,000

Loan Tenure: 12 months or 1 year up to 36 months or 3 years

Expected Period of Approval: Within 5 to 7 banking days

Effective Interest Rates:

  • For applicants without a credit card: 46.92% to 53.21%
  • For applicants with a credit card: 41.67% to 41.94%

 

Eligibility

 

  • At least 21 years old upon loan application and not older than 65 years old at the time of loan maturity
  • Must be a Filipino citizen or a recognized Foreign National with permanent residency in the Philippines
  • With at least Php 15,000 of gross monthly income, basic annual income, or should have no lower than Php 180,000 of income.
  • With a registered and fixed telephone landline in residence, business, or workplace and mobile number. A stand-alone contact number will not be accepted.
  • With good credit history

 

Application Requirements

 

  • Accomplished Eastwest Bank online personal loan application form
  • Photocopy of at least one (1) valid identification card issued in the Philippines with attached digital photo and signature. The borrower may bring ANY of the following identification cards:
    • Driver’s License
    • Philippine Passport
    • Professional Regulation Commission (PRC) I.D.
    • SSS I.D.
    • BIR ID
    • Voter’s I.D.
    • Integrated Bar of the Philippines I.D.
    • Unified SSS/GSIS
    • TIN I.D.
    • Company I.D. issued by any private entity or institution either duly registered with, supervised, or regulated by the Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC) or IC.
  • For Foreign Nationals, proof of residence as an additional requirement should be submitted. The borrower may present ANY of the following:
    • Alien Certificate of Registration
    • Immigrant Certificate of Registration
    • Photocopy of Resident Visa stamp on Passport
  • Proof of income with correctly spelled out personal information and presented under the name of the applicant.
    • If EMPLOYED, submit ANY of the following:
      • Photocopy of latest Income Tax Return (ITR) or Bureau of Internal Revenue (BIR) Form 2316
      • Photocopy of payslips for the last three (3) months
      • Certificate of Employment with indicated salary position, date of employment, and ITR
      • Pay slips
      • Valid reference of credit card or its latest Credit Card Statement of Account

Other documents may be required for further verification (i.e. Mayor’s Permit)

 

    • If Self-Employed, submit ANY of the following:
      • Photocopy of latest ITR/BIR Form 1701 and Audited Financial Statements
      • DTI Registration Certificate (for Sole Proprietorship) or SEC Registration Certificate with page stating shares owned by the applicant (for Partnerships or Corporations)
      • Business Permit
      • Valid Credit Card reference or its latest Credit Card Statement of Account

Other documents may be required for further verification (i.e. Mayor’s Permit)

 

Documentary Requirements upon Loan Disbursement

 

  • Original Copy of documents submitted (to be presented only upon the release of the personal loan). 
  • Two (2) valid identification cards which will be presented to the EastWest Personal Loan Releasing Unit for final verification and to the lobby Guard of the building. 
  • Original copy of application form duly signed by the borrower. 
  • Signed and completely filled out Post Dated Checks (PDCs) without any erasure, correction and/or alteration.

 

How to Avail Eastwest Bank Personal Loans?

 

To proceed with an EastWest Bank Personal Loan application, the borrower can proceed with the following steps:

 

  1. Visit the website of Eastwest Bank. 
  2. Fill out the application form.
  3. Scan and upload the complete requirements.  
  4. Submit the accomplished application form to Eastwest Bank and wait for their verification and approval.

 

Benefits of Eastwest Bank Personal Loans

 

High Loanable Amount

Eastwest Bank Personal Loans offer up to Php 2,000,000 loan amount, depending on the bank’s approval. 

 

Flexible Loan Term Options

With varying payment term options, borrowers may pay back their personal loans for 12, 18, 24, or 36 months.

 

Without Collateral or Co-maker

Another reason why a borrower should apply for Eastwest Bank Personal Loans is that collateral or co-maker is not required.

 

Conclusion

 

Filipinos will face different obstacles that require a financial boost at one point in their lives. When this happens, it is always helpful for people to have a bank that they can depend on to help them in their time of need.  

Rating

4.1/5
EastWest Bank

EastWest Bank has personal loan products for all your needs. Apply for a loan now.

Review

Piggyy

״The secret of happiness, is not found in seeking more, but in developing the capacity to enjoy less״ - Socrates

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