Personal Banking

EASTWEST BANK PERSONAL LOAN

Personal Loans


The EastWest Bank Personal Loan is an unsecured and non-collateralized consumer loan that is granted to qualified individuals for their personal use. It is payable in fixed equal monthly installments.

Product Features :

  • −   Multi-Purpose
    • Travel/Vacation
    • Tuition Fee/School Expenses
    • Credit Card Payment
    • Appliance/Furniture Purchase
    • Medical Expenses
    • Bills Payment
    • Car Accessories/Repair
    • Home Improvement/Renovation
  •  And much more…
  • −   Low interest rates!
  • PL Rates Table with Effective Interest Rates (EIR)

    With Existing Credit Card for at least 12 months
    Tenor Monthly Rate Factor Rate Contractual
    Interest Rate
    Effective
    Interest Rate*
    12 months 1.49% 0.0982333 31.51% p.a. 41.67% p.a.
    18 months 1.59% 0.0714556 33.54% p.a. 42.93% p.a.
    24 months 1.59% 0.0575667 33.19% p.a. 41.62% p.a.
    36 months 1.69% 0.0446778 34.01% p.a. 41.94% p.a.

    Without Credit Card /
    With Credit Card less than 12 months
    Tenor Monthly Rate Factor Rate Contractual
    Interest Rate
    Effective
    Interest Rate*
    12 months 1.89% 0.1022333 39.53% p.a. 53.21% p.a.
    18 months 1.89% 0.0744556 39.39% p.a. 51.33% p.a.
    24 months 1.89% 0.0605667 38.85% p.a. 49.68% p.a.
    36 months 1.89% 0.0466778 37.53% p.a. 46.92% p.a.

    Based on a Loan Amount of Php100,000 and Processing Fee of Php1,900. Per BSP Circular No. 730, EIR is the rate that exactly discounts estimated future cash flows through the life of the loan to the net amount of loan proceeds. It is the rate that best measures the true cost of credit.


    To Compute for the Monthly Installment

    Principal Loan Amount x Factor Rate = Monthly Installment


  • −   Short processing time (Processing of application will take 3 to 5 banking days. Release of loan proceeds to
          the client will take another 2 banking days for pick up and 2 to 4  banking days for the delivery and deposit
          to account option.)
  • −   No collateral and co-maker needed!

  • FEES & CHARGES

    Loan Processing Fee Php1,900
    Documentary Stamp Tax (DST) on Promissory Note (PN) Php1.00 for every Php200.00 of the approved loan amount or a fraction thereof for PNs greater than Php250,000 executed by an individual for personal use and not for the business with reference to RA 9243, Sec 199 - Paragraph D. (to be deducted from the loan proceeds).
    Contractual Interest Rate and Effective Interest Rate (EIR) The interest rates specified in Sections 6 and 7 of the Promissory Note. Per BSP Circular No. 730, EIR is the rate that exactly discounts estimated future cash flows through the life of the loan to the net amount of loan proceeds. It is the rate that best measures the true cost of credit.
    Late Payment Fee Php500 or 8% of the past due amount, whichever is higher. This will be applied for every month that the account is past due.
    Processing Fee for Early Pay-Off of Loan Php500 or 8% of the outstanding principal balance, whichever is higher.
    Returned Check Fee Php1,000 per returned check
    Check Retrieval and Replacement Fee Php200

Minimum Loan Amount – Php25,000
Maximum Loan Amount – Php 2 Million


Mode of Payment
– Post-dated checks shall be issued by the client prior to release of his/her loan proceeds.

Release of Loan Proceeds

  1. Pick up at the Head office:

    The bank will release the loan proceeds by issuing a Manager's Check. The client is required to pick up the check from the head office of EastWest Bank at the 1st Floor, The Beaufort, 5th Avenue corner 23rd Street, Fort Bonifacio Global City, Taguig, Metro Manila.

  2. Delivery and Deposit to Account:

    A messenger will deliver the loan documents to the client's delivery address for sign-off and pick up the Post-Dated Checks. Requirements will be returned to the head office. If all requirements are complete, the loan proceeds will be deposited to the client's account.

    *Delivery option is available for selected areas with a minimal delivery fee. Delivery Fee shall vary depending on the location and shall be deducted from the loan proceeds.


Please call 888-1700 from a Metro Manila landline or toll free at 1-800-1888-8600

Application Requirements

  • −   Must be a Filipino citizen or Foreign National permanently residing in the Philippines
  • −   Must be at least 21 years old during application and not more than 65 years old upon loan maturity
  • −   Must 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)
  • −   Gross (basic) monthly income (GMI) must be at least Php15,000 or basic annual income must not
          be less than Php180,000

Documentary Requirements

  • −   Completely filled-out EastWest Bank 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.
    • Integrated Bar of the Philippines I.D.
    • SSS or GSIS I.D.
    • BIR I.D.
    • Unified SSS/GSIS I.D.

    Company I.D.’s issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC may also be submitted.

    * Original I.D. should be presented upon release of loan proceeds

  • −   Proof of Income as follows:

          If employed, submit ANY of the following:

  •       −     Photocopy of latest ITR/BIR FORM 2316; or
  •       −     Photocopy of 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 such as Certificate of Employment stating salary,
          status (regular/probationary/contractual/co-terminus etc.) position, and tenure of employment; and/or Proof of Billing
  •       If 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 page stating shares
          owned by the applicant (for Partnerships or Corporations)
  •       −     Valid Credit Card reference or its latest Statement of Account
  •       −     Other documents that may be required for further verification such as Business Permit or Mayor’s Permit
  • Note: All documents submitted/presented must be under the name of the applicant (exact spelling and suffix, if applicable).

Please email your supporting documents to PLOAN@eastwestbanker.com. Alternatively, you may also fax your documents to (02) 575-3831 or (02) 325-2377 to complete your application.

Requirements upon Pick-up of Loan proceeds

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

Requirements 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.)

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