EastWest Bank Personal Loans and Other Offers

EastWest Bank Personal Loans and … image

As the industry of online loans is quickly conquered by relatively small and quick startups, banks should develop their services or give the way. Today, almost all Filipino lenders offer online applications. The main difference between them and micro startups is that the online-only enterprises offer way quicker disbursement.

Today, we’re going to review a representative of the first group – traditional banks that want to deliver online loans. Our hero’s name is EastWest Bank. The branches of this institution are located countrywide. However, the company tries to develop more innovative interaction options by offering online loans. Let’s reveal is it successful or not.


EastWest Bank Philippines

EastWest Bank is a private banking corporation. It closes the top 10 of the largest financial corporations of this type locally by assets. The bank’s HQ is located in Bonifacio Global City, Manila. The company was established in 1994 and was recognized as the best banking website in 2004. During its history, EastWest Bank partnered with Green Bank and the local branch of Standard Chartered. Both of them were then acquired by the described firm.

EastWest Bank online loans are not the only products offered. Apart from them, the lender delivers credit cards, home and car loans, deposits, investment opportunities. Further, we will closely talk about personal loans. If you’re interested in other offers, switch to the relevant section of this guide. And don’t forget to check info at the official site because banks often change T&C regularly. Well, let’s begin the review.

EastWest Bank Loan Review

Personal loans from the enterprise are our main topic today. Thanks to the company policy, EastWest Bank reveals all the T&C clearly. That’s why you can be sure that you get what you’re applying for, without hidden fees and other problems. It happens that smaller online firms try to cheat on users. Banks don’t do this, as a rule.

EastWest Bank feedback shows that the declared advantages are true. Here they are so you can understand what we’re talking about:

  • Multi-purpose offers.
  • Web application.
  • Online or physical delivery.
  • Relatively low interest.
  • Without collateral.

Let’s now review the firm’s loans in more detail.

EastWest Bank Loan Interest Rate and Other Terms

The offers we review are multi-purpose so you are free to use them as you want. Thus, the main conditions we should review come to three points:

  1. Amount. From 25 thousand to 2 million pesos
  2. Interest rate. From 1.49% to 1.89% per month.
  3. Tenure. From 6 to 36 months.

EastWest Bank online loan interest rate is the most interesting topic. The exact number depends on the credit history of each customer in this facility and the loan period. Precisely, the lowest rates are for holders of credit cards valid for one year, at least. These clients get from 1.49% to 1.69% depending on their tenure. Persons without credit cards get 1.89% interest.

EastWest Bank Loan Requirements

To apply, you should meet a few eligibility criteria. All of them are listed at the official site, as usual. General requirements divide into personal characteristics and documents that every borrower has to provide. Below, you’ll find both categories. Thus, it’ll be easier to apply and you’ll avoid EastWest Bank complaints, probably.


  • Filipino citizenship or residence.
  • Age from 21 to 65 years.
  • Have both mobile and traditional phone numbers.
  • Have a min income of P15,000 per month.


  • An application.
  • A copy of an ID.
  • Income proofs (payslips, ITR, credit card or other docs).
  • Proof of residence for foreigners.

Remember that self-employed people are required to provide ITR/BIR, registration info, credit card info, and other papers that the bank may request.

Note also that the bank asks customers to provide documents a few times. Above, we list the info for applicants. Still, after approval, you’ll have to show copies of already submitted docs plus two IDs, original application, and signed post-dated checks. Finally, EastWest Bank customer service notes that borrowers must show original copies and checks to get the amount transferred. Together, there are three submits of documents.

EastWest Bank Application Form

The official online form is pretty large and includes several key lines. The lender mentions that all you have to do is to fill out this application, agree on T&C, and send all the required documents to [email protected]. We will guide you through the form so you will not get confused during the application. We list only the required fields:

Personal information:

  • Name.
  • Birthdate.
  • Birthplace.
  • Mother’s name.
  • Gender.
  • Civil status.
  • Dependents.
  • Education.
  • Nationality.
  • TIN.
  • Address.
  • Homeownership.
  • Time to call.
  • Mobile phone.
  • Email.

Spouse information (if applicable):

  • Name.
  • Mobile phone.
  • Personal references:
  • Names of two references.
  • Mobile phones of two references.

Work and finances:

  • Employment.
  • A number of years working.
  • Position.
  • Title.
  • Nature of business.
  • Source of funds.
  • Occupation.
  • Company name.
  • Department.
  • Address.
  • Phone.
  • Annual income.
  • Bank account № (if applicable).
  • Credit card № (if applicable).
  • Other credit cards (if applicable).

Personal loan information:

  • Purpose.
  • Amount.
  • Tenor.
    After submitting, the bank will process your request. You will be able to check the status using a unique reference number. Be ready to submit other documents or contact the bank via email to move further.

Of course, you can apply for loans and other products in the physical offices. EastWest Bank hotline responds that there are hundreds of them, including stores and separate ATMs. Find the nearest one online!

Loan Repayments

Traditionally, banks accept direct payments through personal accounts. The mentioned company also allows users to open profiles and repay their loans through these systems. Exact terms and ways are available for existing clients. However, EastWest Bank branches are ready to accept your check-based payments all the working time.

Don’t forget that the lender has fees. The processing charge of P1,900 is taken automatically. Stamp taxes of P1.5 for each P200,000 are also deducted. Late and early-payment penalties (both P500 or 8%) must be paid upon request. The same is true for the returned check fee of P1,000 and check replacements of P200 each.

Other Products

As all reputable banks, our hero has other offers for customers. They vary from traditional credit/deposit accounts to more types of loans, and so on. You can find all these products at the official site, of course.

Let’s just review a few the most interesting financial offerings from the company:

  • Deposits. Kid savings, regular accounts with and without cards, and advanced offers for people who want to get the highest percent.
  • Credit cards. Various types of Visa and MasterCard plastics, including starting cards, platinum and VIP offers, and airline-based cards.
  • Debit and prepaid cards. Plastics without credit limits plus cards that can be pre-loaded and then gifted to your significant ones.
  • Auto loan. Financial support to customers who want to get a used or new car. Terms vary between 12 and 60 months, interest can go up to 9% per annum.
  • Home loan. The packages with terms up to 30 years that can be used to invest in housing. Interest rates go up to 10% per annum.
  • Investments. Programs focused on investment products for customers. It’s possible to purchase government securities and corporate bonds.

EastWest Bank App

Unlike local lenders, EastWest Bank doesn’t have a separate mobile platform for Filipino customers. Instead, it delivers the global app for all markets. Without innovative stuff, the tool allows users to check balances, pay bills, and make transfers. It’s possible to refresh in mind your account info, find a branch, and get online help from operators. Customers can use their credentials or go through a quick self-registration process to use the EastWest Bank app.

You can find the application for Android and iOS in official stores.

EastWest Bank and Other Lenders

To find out how the T&C differ, we propose you to check a few more offers from top Filipino banks. Generally, their requirements are similar but you may find some products more suitable than others. Feel free to research more if you want to get a loan from another lender.

Lender Max. Amount Max. Tenure Interest Approval
EastWest Bank P2,000,000 36 months 1.89% p.m. Up to 5 days
BPI P1,000,000 36 months 1.2% p.m. Up to 13 days
Citi P2,000,000 60 months 1.27% p.m. Up to 1 day
HSBC P500,000 36 months 1.21% p.m. Up to 7 days
Maybank P1,000,000 36 months 1.3% p.m. Up to 10 days
RCBC P1,000,000 36 months 1.3% p.m. Up to 7 days
Security Bank P2,000,000 36 months 1.89% p.m. Up to 5 days

How Does EastWest Bank Work?

Similarly to other banks. The company gets the customers’ money, keeps funds as deposits, and uses them to pay credits.

What Is an EastWest Bank Loan?

The answer is yes. It is one of a few financial products.

How to Open Account EastWest Bank?

This task is pretty easy. It’s enough to register online. Registration can be done via native applications and in the real-world branches.

How to Apply for an EastWest Bank Loan?

Applications are available online. To get the money, fill the form located at the official site or visit the nearest branch.

Can a Student Apply?

Yes. A student should be able to show the income source with regular transfers. Examples are the parents’ money and simple work.

Can a Housewife Apply?

Yes. Just like students, housewives should convince the bank that they have a regular income. For this, husbands’ salaries are acceptable.

Can an Unemployed Apply?

Yes. Two cases above show that everybody can apply. Even if you’re unemployed but have a certain income, try sending the request.

How to Get Approved for Loans EastWest Bank?

To increase the approval chances, we suggest submitting several support documents apart from ones requested officially. Also, build your relations with the bank by getting credits.

How to Get EastWest Bank Loans?

The process is simple: you register, fill the form, send it with docs, and wait for the approval. Note that the bank may ask for extra info.

How to Avail EastWest Bank Loans?

After the approval, you will be guided by operators. Often, availing includes creating a personal account and getting the transfer.

How to Pay EastWest Bank Loans?

Each loan and each customer has own payment schedule. Stick to it, make regular transfers, and don’t accumulate debt.

Where to Pay EastWest Bank Loans?

The bank accepts offline checks that you can bring to branches. As well, there are online accounts in which you can transfer funds.

How to Repay EastWest Bank Loans?

For repeat borrowers, the bank has the same conditions. Still, if you have a good history, you may expect better repayment conditions.

How Much Interest East West Bank Loans?

The site includes the table with all rates and payments. According to it, interest varies between 1.49% for credit card holders to 1.89% for new users.

How Many Times Can I Reloan?

The number is unlimited if you just want to take new loans after paying the previous ones. However, if you need to refinance debt, contact the hotline.

How to Compute Loan?

It’s possible using any suitable calculator. Just multiply the monthly/daily rate by the number of months/days and add this sum to the initial loan amount. Don’t forget the fees!

How to Check Balance?

Balances are visible for customers in their personal cabinets at the site and in the application. In offices, you can get this info, too.

Is EastWest Bank Legit?

Yes. It’s an officially registered financial corporation that operates from 1994. You can find its registration at the SEC’s site by the number CS201623324.

Is EastWest Bank Open Today?

The hotline works 24/7. However, the bank itself and its branches are simple offices. Their working times are typical for the country.