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Eastwest Bank auto loan for february 2024

Eastwest Bank
Get an auto loan at Eastwest Bank. On 22.02.2024 there are 1 options are available to you. Increase your chances of getting a loan - fill out an online application with a free credit rating check.
Offers: 1
Eastwest Bank
Auto Loan
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
from ₱200,000

Effective interest rate on the product

up to 7.19% APR

Loan term for the financial product

12-60 months
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Warning: This lender is predatory and extremely dangerous. Do not use this app for loans as they will trap you with impossible and maliciously high interest rates...
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Eastwest Bank auto loan for february 2024

With the Eastwest Bank auto loans, anyone can quickly own a brand new or used car just by applying for this loan. The bank offers borrowers low down payment options, competitive interest rates, low monthly payments, different financing plans to select from, and simple payment options. The minimum loanable amount is ₱200,000, and the maximum amount is 80% of the car’s appraised value. The Minimum required down payment is 20% of the car’s value, and the loan term ranges between 12 to 60 months.

How to apply an auto loan?

Follow the steps below to apply for an auto loan:

  1. Choose a car to purchase.

  2. Visit the Eastwest Bank official website.

  3. Click on the three parallel lines by the top left-hand side of the website.

  4. Under Personal online banking, click on Loans and then Auto loan.

  5. When the new page opens, click on Apply now.

  6. Fill out the application form and read the terms and conditions before proceeding.

  7. Make scanned copies of all the supporting documentation needed and upload them where necessary.

  8. Submit the online application form and wait for their confirmation. They will take care of everything.

Requirements for Eastwest Bank auto loans

Applying for a loan becomes easier when the borrower is already aware of all the prerequisites. Below are some of the mandatory requirements and eligibility criteria every borrower must follow before applying for an auto loan.



To be eligible, personal applicants must:

  • Be between the ages of 21 and 70 at the time of loan maturity.

  • Be a Filipino citizen, a foreigner resident in the Philippines for at least one year, or a foreigner with a Filipino co-maker.

  • Be a salary earner or self-employed.

  • Be a locally employed applicant and must have a regular or permanent status at the time of application.

  • Have a gross monthly income of at least ₱60,000.


To be eligible, corporate applicants must:

  • Have a registered business entity that has been functioning financially for at least three years ​

  • Have a gross monthly income of at least ₱200,000.

Documentary requirements


  • Filled application form​.

  • Two valid government-issued ID cards​.

  • Income tax return​.

  • Certificate of employment for employed applicants.

  • If business engaged:

    • Certificate of business registration.

    • Business permit​.

    • Last three months' financial statement.

  • Bank statements​.

  • Proof of other income sources​.

  • Identification papers, for example:

    • Driver's license.

    • SSS/GSIS cards.

    • Company ID cards.

    • Passport, etc.

  • For OFW applicants:

    • ​At least one government-issued valid ID card.

    • Consularized certificate of employment compensation, COEC with original six-month remittances.

    • Consularized certificate of employment compensation, COEC with an original six-month payslip.


  • Filled application form​.

  • Financial statements for the last three years.

  • Income tax return​.

  • Articles of incorporation​.

  • List of major stockholders of the corporation, their addresses, and ownership​ status.

  • List of principal officers, their positions, and their addresses​.

  • List of corporate beneficial owners and attestation of beneficial ownership declaration​.

  • Company profile​.

  • Business plan.​

  • Trade references must have at least three major suppliers and three major clients​.

  • Bank statements.

Pros and cons

Check out these honest pros and cons before applying for an Eastwest Bank auto loan.


  • The loan application can be made online.

  • The bank covers up to 80% of the car’s value.

  • The loan is for brand new vehicles and second-hand ones.

  • The loan can be approved within a week.

  • The bank offers loan terms of up to 60 months.


  • The bank requires you to attach collateral if you want to apply for this loan.

  • The bank offers higher interest rates if you compare it with other competitors.

How to repay?

The loan can be repaid through any of the following methods:

  • Eastwest online. Eastwest online is accessible to Eastwest deposit account holders who wish to make their auto loan payments online at Direct debit payments received before the cut-off time (8 p.m.) are posted within 24 hours. Your loan balance will be updated the next business day.

  • Eastwest automatic debit arrangement. You can utilize the automatic debit arrangement if you have an Eastwest deposit account.

  • Eastwest ATMs. Eastwest ATMs accept direct auto loan debt payments if you have an Eastwest or Bancnet member bank ATM account. Simply follow the on-screen directions. Payments received before the cut-off time (midnight.) are posted the next banking day. Your loan balance will be adjusted two banking days after payment is received.

  • Eastwest rural bank stores. Eastwest rural bank locations only accept cash payments. Payments made during store hours (Monday through Friday) are posted the next banking day. After two banking days from the date of payment, your loan balance will be revised.


What if I fail to make my Eastwest Bank auto loan monthly payment?

In the event of a payment delay, a penalty of 10% of the past due amount or ₱1000, whichever is greater, will be levied for each month that the account is past due.

Is there an application fee for an Eastwest Bank auto loan?

Yes. When you apply for the loan, a one-time application fee of ₱1,900 will be taken from the loan proceeds.