EastWest Bank

Company Information

The name of EastWest Bank is a combination of the bank’s desire to combine the traditional prudence, warmth, and hospitality of the east and the efficiency and progressive thinking of the west.

EastWest Bank is committed to servicing consumers, especially the middle market corporates and mass affluent, with a vision to be a world-class bank through traditional and alternate delivery channels. The products and services are more accessible through its online banking facilities, and consumers can facilitate any transaction from the mobile banking app. 

EastWest Bank is a subsidiary of the Filinvest Development Corporation (FDC). The corporate office of EastWest Bank is at The Beaufort, 5th Avenue corner 23rd Street, Bonifacio Global City, Taguig. You can reach out to the customer service team with the following contact numbers:

Customer Service Hotline: (+632) 8888-1700

Domestic Toll-Free: 1-800-1888-8600

US Toll-Free: 1-866-828-6296

Corporate Office Trunkline: (+632) 8575-3888

Customer Service: [email protected]

Types of Products and Services Offered

Credit Cards

EastWest Bank offers various credit cards packed with features and perks according to your spending habits. Depending on your credit card, you can enjoy exclusive rewards, rebates, and access to 24/7 cash for all your purchases.

Auto Loans

EastWest Bank offers affordable and flexible payment schemes for auto loans. Purchasing your dream car is now possible as you can choose your preferred model, brand new or second-hand, and enjoy affordable downpayment options according to your budget.

Loan Amount: 60% to 80% of the vehicle value

Loan Term: 

• Brand New – 12, 18, 24, 36, 48, and 60 months
• Pre-owned – 12, 18, 24, 36, and 48 months

Interest Rates:

Payment Options:

• Issuance of Post-Dated Checks (PDCs)
• Automatic Debit Arrangement (ADA) against an EastWest Bank deposit account

Down Payment: 20% – 40%

Loan Requirements

Once you have decided on the car model and brand, you can apply for an EastWest Bank auto loan with the following requirements:

Individual

• 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 Documents

• Chattel Mortgage/Promissory Note
• Disclosure Statement

Home Loans 

Purchasing your dream home could present a few roadblocks for you, mainly if you have a limited source of funds for the downpayment. Paying in cash is downright expensive, but when you apply for EastWest Bank Home Loan, you can take advantage of flexible payment options and fast processing. 

Loan Terms: 1 year to 30 years

Interest: starts at 5.750% to 9.750%

Loan Purpose:

• Top-up Loan – use it to pay off a portion of the existing loan for any purpose.
• Home Equity – for personal consumption such as, but not limited to, travel, medical treatment, education, business loans, etc.
• Home Construct – ideal for home construction when you already have a lot.
• Reimbursement – for reimbursement of your purchase of residential property bought within one year based on the transferred TCT/CCT
• Home Acquire/ Condo Acquire – to finance the acquisition of a house, townhouse, condominium, or a residential apartment (with a maximum of four doors)
• Lot Acquire – to finance the purchase of a residential lot.

Loan Requirements

General Documents

• Duly-Accomplished Application Form
• Two (2) valid Government-issued IDs

For Loan Refinancing / Loan Take Out

• Latest Statement of Account from Mortgagor
• Proof of payment for the last 6 months (Official Receipts or cleared checks with Bank Statements or Ledger)

Self-Employed

• Business Registration (SEC/DTI)
• Audited Financial Statements for the last 2 years
• Updated Interim Financial Statement if most recent AFS is more than 6 months
• Latest 6-month bank statements w/ authorization to conduct bank verification
• List of trade references (at least 3 suppliers and 3 customers with telephone numbers and contact persons)
• Articles of incorporation and By-laws

Locally Employed

• Certificate of Employment w/ Compensation (COEC) indicating position and length of service
• Latest Income Tax Return (ITR)

OFW Direct Hire

• COEC w/ original 6-month remittances; or
• COEC w/ original 6-month payslips; or
• Consularized Certificate of Employment w/ Compensation (COEC)

OFW Seaman

• Crew Contract validated by POEA

Practicing Doctor

• Clinic Address/es and schedule/s

Earning From Rental Properties

• Rental/Lease Contract (indicating name of tenants and rental amounts with complete addresses of properties being rented)
• Photocopy of title (CCT/TCT)

Earning From Transport Business

• LTO Certificate of Registration (CR) and Official Receipt (OR)
• LTFRB Franchise/s

Earning From Commissions

• Vouchers and bank statements (for the last 6 month reflecting commissions)
• Required Collateral Documents
• Photocopy of Title for Collateral (TCT for land title/CCT for condo title)
• Appraisal Fee Official Receipt (OR)
• Tax Declaration (Land and Building)
• Bill of Materials or Cost Estimate
• Building Plan or Renovation Plan
• General Specification or Scope of Work

Personal Loans

EastWest Bank’s personal loan is designed for the achievement of one’s financial goals and dreams. It is a multipurpose loan and does not require collateral which makes this loan type to be more accessible to those who need it. 

Loan Amount: ₱25,000 to ₱2 million (subject to approval)

Loan Term: 12, 18, 24, and 36 months

Annual Percentage Rate (APR): 41.67% to 53.21%

Other Fees & Charges:

• Processing Fee – ₱1,900 (deducted from the loan proceeds)
• Documentary Stamp Tax – ₱1.50 for every ₱200.00
• Late Payment Fee – ₱500 per month or 8% per month of the past due amount, whichever is higher
• Returned Check Fee – ₱1,000 per returned check

Eligibility

To be able to qualify for a personal loan, the loan applicant must satisfy the following criteria:

• Be a Filipino citizen or a foreign national permanently residing in the Philippines
• Be at least 21 years old during application and not more than 65 years old upon loan maturity
• Have at least one fixed landline number (either home or business) and a mobile number. (Mobile number will not be accepted as a stand-alone contact number).
• Have a Gross (basic) monthly income (GMI) must be at least ₱15,000 or basic annual income or must not be less than ₱180,000

Requirements

Upon Loan Application

• Completely filled-out EastWest Online Personal Loan Application Form
• Photocopy of at least one (1) valid digitized photo-bearing and signature-bearing I.D.’s issued in the Philippines (i.e. Driver’s License, Philippine Passport, Professional Regulation Commission (PRC) I.D., SSS I.D., BIR ID, Integrated Bar of the Philippines I.D., and Unified SSS/GSIS and TIN I.D.). Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC may also be submitted.
• (For Foreign Nationals Only) any of the following Proof of Residence: Alien Certificate of Registration, Immigrant Certificate of Registration or Photocopy of Resident Visa stamp on Passport
• Proof of Income as follows:

Employed

Submit any of the following:

• Photocopy of latest ITR/BIR Form 2316; or
• Photocopy of the latest three months pay slips; or
• Valid Credit Card reference or its latest Credit Card Statement of Account
• Other documents that may be required for further verification

Self-employed

Submit all 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 a page stating shares owned by the applicant (for Partnerships or Corporations)
• Valid Credit Card reference or its latest Credit Card Statement of Account
• Other documents that may be required for further verification such as Business Permit or Mayor’s Permit

Upon Loan Release

• Original Copy of documents submitted (to be presented only)
• Two (2) Valid IDs
• Original signed application form
  • One to be presented to the lobby Guard of the building
  • One to be presented to the EastWest Personal Loan Releasing Unit as ID verification
• Post Dated Checks — Fully accomplished and signed (Kindly ensure that the PDCs that you will issue have no erasures, correction and/or alteration.)

For Delivery and Credit to Account Option

1. Photocopy of one (1) valid ID (submitted upon initial application) with 3 specimen signatures. 
2. Original Copy of documents submitted (to be presented only).
3. Post Dated Checks — Fully accomplished and signed (Kindly ensure that the PDCs that you will issue have no erasures, correction and/or alteration.)

Why Choose EastWest Bank

With over two decades of expertise in the Philippine banking industry, EastWest Bank helps Filipinos achieve major financial milestones in their life by providing easy access to financial services. Here’s why Filipinos should choose EastWest Bank:

Provide Collateral-Free Personal Loan

As long as you meet the required gross monthly income and have complete documentation, you can apply for a personal loan without collateral. While you can specify the loan amount you want to borrow, it will be subject to the bank’s approval.

Whether you need funds to start a business, pay for your tuition, or travel with your family, you can enjoy this unsecured loan with reasonable interest rates.

Offers Flexible Payment Options

Depending on the loan type, EastWest Bank gives you an option on how long you want to pay for your loans, usually up to three years for a personal loan, five years for an auto loan, and up to 30 years for a home loan.

Convert your credit card purchases into zero-percent installment with partner merchants and enjoy flexible terms so you can stretch out your finances when buying big-ticket items. 

Present in Major Cities and Provinces in the Philippines

EastWest Bank has strategically positioned itself across the country with nearly 500 stores or physical branches and almost 600 ATMs that you can access 24/7. Depositing and withdrawing cash is convenient, just visit the nearest branch for your transactions.

Provides 24/7 Customer Service

For any concerns or inquiries, you may reach out to the customer service team of EastWest Bank at any time of the day. The bank ensures the support team can address your concerns right away. 

Online Banking Available

Online banking is the most convenient way to transact with people and other businesses. No more waiting in line as you can even pay for your purchases online right from your mobile phone. With EastWest Bank, pay your bills on time, shop online, or send money to your family.

How to Sign Up

Loan and credit card applications are available via branch visit or you can submit them directly on the website. Here are the following steps below:

Conclusion

Those who are looking at accessibility and convenience will surely be able to get that with EastWest Bank’s products and services and their growing presence in the Philippines. With various loan options and credit cards to choose from, you will not have to worry about where to go to address your goals or emergency needs.