Whatever your cash needs, an East West Bank personal loan can be your quick and easy solution.
Benefits
- Processing time within 5 – 7 banking days.
- Borrow any amount from ₱25,000 to ₱2,000,000.
- Monthly add-on rate from 1.49% per month.
Product Features
- financing amount: ₱25,000.00
- Financing amount: Up to ₱2,000,000.00
- loan tenure: 1 year
- Loan tenure: 3 years
- Interest rate: Fixed rate of 22.68% per annum, 1.89% per month add-on
- Approval duration: Within 5 to 7 banking days
- Debt consolidation: No
Fees & Charges
One time set up
- Processing fee: ₱1,500.00
- Stamp duty: ₱1.00 for every ₱200.00 of the approved loan amount or a fraction thereof for PNs greater than ₱250,000
- Disbursement & misc. fee: N/A
- Other fees: Returned check fee is ₱1,000.00 and ₱200.00 for check replacement fee
Penalties
- Early settlement: ₱500.00 or 8% of the outstanding principal whichever is higher
- Late payment charges: ₱500.00 per month or 8% per month of the past due amount, whichever is higher
Eligibility
- Age requirement: Age 21 – 65
- Employment eligibility: At least ₱15,000.00 monthly income
- salary requirement: ₱15,000 gross per month
- Guarantor / Collateral requirement: No
Other Requirements
Need to open linked banked account? Yes
Other details: Method of Payment – Post-dated Checks
East west Bank Personal Loan FAQ
- How much can I borrow?
With an East West Bank Personal Loan, borrow as much as ₱2,000,000, subject to approval.
- What are the East West Bank Personal Loan Requirements?
An applicant must fulfill East West Bank’s eligibility criteria for a loan:
- Must be a Filipino citizen
- Must be a regular employee with tenure of at least 6 months with current employer or self-employed with business operational for at least 2 years
- Must be at least 21 years old and not more than 65 years old upon loan maturity
- Must have an existing credit card for at least 12 months
- Must have at least one landline number (either home or business) and a mobile number (Mobile number will not be accepted as a stand-alone contact number)
- Gross monthly income (GMI) must be at least ₱15,000 or annual income of not less than ₱180,000
Consequently, after filling out an application form, the following documents are necessary:
- Fully Employed applicants need:
- Completely filled-out and signed East West Bank Personal Loan Application Form
- Photocopy of one (1) valid photo-bearing digitized I.D.
- Photocopy of BIR FORM 2316/W2 (Tax Withheld)
- Photocopy of Latest one month pay slip
- Valid credit card reference or latest Statement of Account of the existing credit card
- Original copy of Certificate of Employment stating salary and position
Self – Employed applicants need:
- Completely filled-out and signed East West Bank Personal Loan Application Form
- Photocopy of one (1) valid photo-bearing digitized I.D.
- Latest ITR and Audited Financial Statements
- Latest Statement of Account of the existing credit card
- DTI Registration Certificate (for sole proprietorships)
- SEC Registration Certificate with page attached reflecting total shares owned by the applicant (for Partnerships and Corporations)
NB: Additional documents may be required during credit evaluation.
- How does the East West Bank Personal Loan Calculator work?
The East West Bank Personal Loan calculator computes the estimated cost of borrowing and amount of payment per instalment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.
