EastWest Auto Loan Promo Mechanics


  1. The promo is open to individuals who apply for and are subsequently approved of an Auto Loan from May 2 to October 31, 2018. Loan must be booked within 3 months from approval.
  2. To qualify, the availed auto loan should meet the following criteria:
    • Loan application must be coursed through any EastWest store.
    • Loan term must be 36 to 60 months.
    • Amount financed must be at least P500,000.
    • Loaned vehicle must be brand new and private type (i.e. sedan, SUV/AUV/Wagon/Van/Pick-up); excluding Mitsubishi L300 FB Body, Hyundai H100 Shuttle, Kia 2700 Panoramic
    • Maximum vehicle SRP of P3,000,000
  3. The cash subsidy can be used to pay in part the Chattel Mortgage Fee or LTO Registration, or to further lower the interest. The amount of subsidy will depend on the client’s loan amount.
    Amount Financed
    Subsidy
    P500,000 – P999,999
    P5,000
    P1,000,000 – P1,399,999
    P8,000
    P1,400,000 – P1,799,999
    P11,000
    P1,800,000 – P2,799,999
    P15,000
    P2,800,000 and above
    P20,000
  4. Qualified clients shall be entitled to Free First Year Comprehensive Motor Car Insurance with the following coverage:
    • Fixed deductible of P2,000 for own damage, theft, acts of nature (AON) and riot, strike and civil commotion (RSCC)
    • Excess bodily injury of P300,000
    • Auto personal accident of P50,000 per passenger including the authorized driver for a maximum of 10 seats
    • Free 24-hour roadside assistance
  5. Upon availment of the promo, the loaned vehicle’s insurance shall be locked in with East West Insurance Brokerage, Inc. (EWIB) for the duration of the loan term. Upon renewal, client’s submission of own motor car insurance policy will not be accepted.
  6. To avail of the promo, the client will sign an Authority to Renew Insurance Policy agreement and submit post-dated checks for the payment of the insurance premiums for the succeeding years of renewal coverage.
  7. In case of total loss in the first year of coverage, the first year premium will be deducted from the claims proceeds.
  8. If the loaned vehicle is used for hire or public transport, coverage will automatically be suspended, any claim will not be compensable and will be denied.
  9. The client may avail of special interest rates.
    Amount
    Add-on Rate (In Arrears)
    Add-on Rate (In Advance)
    36 months
    18.10%
    17.30%
    48 months
    23.50%
    22.60%
    60 months
    29.20%
    28.30%
  10. All loan applications shall undergo the standard EastWest Auto Loan approval process.
  11. All offers are non-transferable, not convertible to cash and cannot be combined with other programs.
  12. All EastWest employees and their spouses are not eligible to join this promo.
  13. In case of dispute, EastWest’s decision, in concurrence with DTI, regarding this promo will be deemed final and non-negotiable.


Per DTI-FTEB Permit No. 7107, Series of 2018



Auto Referral Promo Mechanics



  1. Promo period is from July 09 – December 31, 2018. The application must be received, encoded, and approved within the promo period.
  2. To qualify for the incentive, the following eligibility criteria must be met:
    The "Referrer" must be an individual who:
    1. Has an active EastWest Bank Auto Loan, Credit Card and/or Personal Loan account in good credit standing* as of the latest billing cycle date and throughout the duration of the promo period and upon crediting of the Referrer Incentive. Otherwise, the Referrer Incentive will be forfeited in favor of the Bank; Corporate accountholders are not qualified;
    2. Is not employed by EastWest Bank and/or its subsidiaries and affiliates, up to the first degree of consanguinity or affinity.
    The "Referral" must be an individual who:
    1. Is referred by a Referrer as defined by this Promo Mechanics
    2. Has none of the following at the time of application:
      • Pending EastWest Bank Auto Loan application
      • Approved/cancelled/declined EastWest Bank Auto Loan application in the last three (3) months.
    3. Is not employed by EastWest Bank and/or its subsidiaries and affiliates, up to the first degree of consanguinity or affinity.
    4. Is a Filipino citizen, aged 21-65 years old at the time of application
    5. Applied for an EastWest Auto Loan which was approved, and booked within 60 days from approval his/her auto loan under this Promo with:
      • Loan amount of at least Php500,000
      • Loan term of at least 36 months
  3. Qualified Referrers who received the promotional SMS and e-mail can submit their Referral by completing this online form:
    https://www.eastwestbanker.com/secure/onlinereferralform.asp?mode=d
  4. The Referrer will receive a Php3,000 Referrer Incentive in the form of an EastWest Bank Gift Check (GC) that is similar in nature to a regular Manager’s Check once his or her Referral’s EastWest Auto Loan application has been successfully booked. The Referrer must select the mode of release of the Referrer Incentive:
    • Credit to cardholder’s active EWB Credit Card. The cash credit will be posted on Referrer’s Account (SOA) within 30 days upon Referral’s Auto Loan Booking.
    • Deposit to the Referrer’s active EastWest Checking or Savings Account
    • Pick-up by Referrer at the EastWest Head Office (6th Floor MC Releasing, The Beaufort, 5th Avenue corner 23rd Street, Bonifacio Global City, Taguig City) or Store of Account
  5. For release via Pick-up by Referrer, the Referrer must present one (1) government-issued, photo-bearing ID with signature (“Valid ID”).
  6. Any unclaimed GC within 60 days from end of Promo Period will be forfeited.
  7. In the event that the Referral is referred by two (2) or more Referrers, the Referrer Incentive shall be awarded to the Referrer whose Referral application was approved first.
  8. EastWest bank employees and their spouses or relatives within the first degree of consanguinity or affinity are not eligible to avail of this promo.
  9. All auto loan applications are subject to approval by EastWest Bank.
  10. This promo offer is non-transferable and not convertible to cash.
  11. Out-of-Town fees (if applicable) shall be shouldered by the borrower.
  12. The Promissory Note with Chattel Mortgage Terms and Conditions apply to all booked accounts under this Promo.
* Customers in good credit standing are those whose accounts are not delinquent, not under investigation due to suspected fraudulent activities, and those who have not, otherwise, violated any of the Terms and Conditions Governing the Issuance and Use of EastWest Credit Cards, Personal Loans or Auto Loans


Per DTI-FTEB Permit No. 12567, Series of 2018


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