EWB in the Philippines

EastWest Bank (PSE: EW), more formally known as East West Banking Corporation, is the tenth largest privately owned domestic bank in the Philippines in terms of assets. It is a member of the Filinvest Group, one the largest conglomerates in the Philippines founded by the late tycoon Andrew Gotianun. Its headquarters is at The Beaufort, […]

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EastWest Bank https://upfinance.com/app/uploads/2019/07/EastWeast.jpg
Beaufort, 5th Avenue Corner, 23rd Street, Bonifacio Global City, Taguig 1634
Customer Service Hotline (02) 8888-1700 Internal free 1-800-1888-8600 US free 1-866-828-6296 Corporate Office Trunk Line (02) 575-3888, service@eastwestbanker.com
Interest rate 0.4% - 3%
Loan tenure from 12 to 360 months
Approval duration Up to 120 hours
Min. monthly income

Leading

Jonathan T. Gotianun (Chairman) Antonio C. Moncupa, Jr. (Vice Chairman and CEO) Jesus Roberto S. Reyes (President and Deputy CEO)

Shareholders

Filinvest Development Corporation: 75% PCD Nominee Corporation: 24.87% Philippine Air Force Educational Fund: 00.03% Washington Sycip: 00.03%

Product Features

Min. financing amount ₱ 100000
Max.financing amount ₱ 5000000
Min. loan tenure 12 months
Max. loan tenure 360 months

Credit

Home loan

Interest rates:

years 1 2
3
4
5
6
10
11
15
16
30
% APR 6.5% 7.3% 7.8% 8.0% 8.8% 10%

Loan amount: Up to 80% of assessed value
Payment terms: Up to 30 years
Approval time: 5 banking days
Minimum loan amount PHP: 1 000 000

Calculate loan

Car loan

Interest rates:

months 12
18
24 36 48 60
New
% APR
4.9%
7.2%
9.6% 14.6% 20.0% 26.6%
Used
% APR
9.1%
12.7%
19.1% 27.8% 36.7%  

Loan amount: Brand new: up to 80% of purchase price
Second hand: up to 70% of appraised value
Payment terms: Brand New: 12 to 60 months
Second hand: 12 to 48 months
Approval time: 1 banking day
Down Payment: As low as 20% of purchase price

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Personal loan

Interest rates:

months 12 18-24 36
With existing credit card
% per month
1,49% 1.59% 1.69%
With credit card less than 12 months
% per month
1.89% 1.89% 1.89%

Minimum Loan Amount: 25 000 PHP
Maximum Loan Amount: 2 000 000 PHP
Payment terms: Up 36 months
Approval time: 3-5 banking days

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Loan Calculator

%
Monthly payment
₱ 888.49
Total overpayment
₱ 661.85
Total
₱ 10661.85

Borrower Requirements

Eligibility: 
– At least 21 years old at the time of application but not more than 65 years old upon loan maturity
– Be a Filipino citizen or Foreign National permanently residing in the Philippines
– Have at least one fixed landline number (either home or business) and a mobile number
– Have a Gross (basic) monthly income (GMI) must be at least Php15,000

or basic annual income or must not be less than Php180,000
Documentary requirements:
– 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

Business loan

TERM → 1 year 18 months 2 years 3 years
Rates 1.50% per month 1.60% per month 1.90% per month 1.95% per month

MINIMUM CREDIT AMOUNT 1 000 000 PHP
MAXIMUM LOAN AMOUNT 5 000 000 PHP
No collateral required for loans up to P5,000,000
From processing to approval within 5 days
Loan income is automatically credited with the payment of funds.

One-time commission Notary fee: PHP 2000
Notary fees for individual entrepreneurs PHP 400
Notary fees for PHP 800 Partnerships and Corporations
DST Approved loan amount / 200 * 1.50
Fine 3% overdue amount per month

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Deposited

Time Deposit Term
  30 D 60 D 90 D 180 D 270 D 360 D
PhP 10,000 to < 100,000 1.375% 1.500% 1.625% 1.625% 1.625% 1.625%
PhP 100,000 to < 500,000 2.250% 2.325% 2.375% 2.375% 2.375% 2.375%
PhP 500,000 to < 1,000,000 2.500% 2.500% 2.500% 2.500% 2.500% 2.500%
PhP 1 million to < 3,000,000 2.500% 2.500% 2.500% 2.500% 2.500% 2.500%
PhP 3,000,000 to < 5,000,000 2.500% 2.500% 2.500% 2.500% 2.500% 2.500%
PhP 5,000,000 to < 10,000,000 2.500% 2.500% 2.500% 2.500% 2.500% 2.500%
> PhP 10,000,000 2.500% 2.500% 2.500% 2.500% 2.500% 2.500%
LONG TERM PhP TIME DEPOSIT Term
Term or Fixed Quarterly payout 2 years 3 years 4 years 5 years + 1 day
PhP 10,000 and above 3.125% 3.125% 3.250% 3.25% net

Credit Card

Credit cards do not have an annual fee for the 1st year, no fees for foreign transactions and give access to exclusive benefits.

EastWest Priority Visa Infinite Credit Card

Annual Membership Fee Waived Perpetually
Interest Charge 1.99% per month, computed based on average daily balance (or 23.88% effective rate annually)
Cash Advance Service Fee and Interest Charge 3% of the cash advance amount or Php600, whichever is higher; and 1.99% Interest Charge imposed on the cash advance amount and Cash Advance Service Fee, which shall accrue from the date of availment until full settlement or payment of the latest Total Statement Balance
Cash Advance Over-the-Counter Fee A fee of Php500 will be charged for cash advance transactions availed over-the-counter at EastWest stores in addition to the Cash Advance Service Fee and applicable Interest Charge. The proceeds of the over-the-counter cash advance transaction shall be net of the Cash Advance Over-the-Counter Fee.
Late Payment Charge 8% of the Minimum Payment Due
Over Credit Limit Fee Php500 will be charged whenever the outstanding balance exceeds the prescribed credit limit within the billing period.
Returned Check Fee Php1,500 for every returned check
Retrieval Fee Php200 for the retrieval of each retail/installment and mail-order/ telephone-order charge slip; Php1,250 for the retrieval of each travel and entertainment charge slip

EastWest Platinum Mastercard

Annual Membership Fee Waived Perpetually
Interest Charge 2.75% per month, computed based on average daily balance (or 33% effective rate annually)
Cash Advance Service Fee and Interest Charge 3% of the cash advance amount or Php600, whichever is higher; and 2.75% Interest Charge imposed on the cash advance amount and Cash Advance Service Fee, which shall accrue from the date of availment until full settlement or payment of the latest Total Statement Balance
Cash Advance Over-the-Counter Fee A fee of Php500 will be charged for cash advance transactions availed over-the-counter at EastWest stores in addition to the Cash Advance Service Fee and applicable Interest Charge. The proceeds of the over-the-counter cash advance transaction shall be net of the Cash Advance Over-the-Counter Fee.
Late Payment Charge 8% of the Minimum Payment Due
Over Credit Limit Fee Php500 will be charged whenever the outstanding balance exceeds the prescribed credit limit within the billing period.
Returned Check Fee Php1,500 for every returned check
Retrieval Fee Php200 for the retrieval of each retail/installment and mail-order/telephone-order charge slip; Php1,250 for the retrieval of each travel and entertainment charge slip

EastWest EveryDay Mastercard

Cash Rebate
Your everyday spending can get you up to 5%* cash rebate on your essential spend-supermarket, gas and drugstore purchases. The more you spend on non-essential** items, the higher rebates you earn. That’s smart spending!

Essential Spend Rebate Non-Essential Spend Amount
5% Php10,000 and above
3% Php5,000 to below Php10,000
0.5% below Php5,000

DLSAA Mastercard

Engage the animo.
Give Back to Your Lasallian Community
EastWest will donate Php1,000 to DLSAA, in your name, upon reaching your first Php2,000 spend. Your donation shall be used to fund DLSAA’s various projects which will help change lives of individuals.
Exclusive Discounts
Get 5% discount on DLSAA merchandise when you purchase using your DLSAA Mastercard at the DLSAA Office in DLSU-Manila.
Annual Membership Fee
Principal Card – Php1,600
Supplementary Card – Php800
Interest Charge 3.50% per month, computed based on average daily balance (or 42% effective rate annually)
Cash Advance Service Fee and Interest Charge 3% of the cash advance amount or Php600, whichever is higher; and 3.50% Interest Charge imposed on the cash advance amount and Cash Advance Service Fee, which shall accrue from the date of availment until full settlement or payment of the latest Total Statement Balance
Cash Advance Over-the-Counter Fee A fee of Php500 will be charged for cash advance transactions availed over-the-counter at EastWest stores in addition to the Cash Advance Service Fee and applicable Interest Charge. The proceeds of the over-the-counter cash advance transaction shall be net of the Cash Advance Over-the-Counter Fee.
Late Payment Charge 8% of the Minimum Payment Due
Over Credit Limit Fee Php500 will be charged whenever the outstanding balance exceeds the prescribed credit limit within the billing period.
Returned Check Fee Php1,500 for every returned check
Retrieval Fee Php200 for the retrieval of each retail/installment and mail-order/telephone-order charge slip; Php1,250 for the retrieval of each travel and entertainment charge slip

Debet Card

EastWest Debit Card

Card Replacement Fee Php 150
PIN Regeneration Fee Php 50
ATM Balance Inquiry – Domestic Off Us Php 1/transaction
ATM Balance Inquiry – International* Php 45/transaction
ATM Withdrawal – Other Banks ATM Php 11/transaction
ATM Withdrawal – International VISA ATM* Php 157.50/transaction

EastWest Priority Debit Card

The EastWest Priority Debit Card is a Visa-branded debit card that offers EastWest Priority members exclusive lifestyle perks and rewards.

Loan Installment

Issued as part of requests from trusted clients
The program itself is called a salary advance.
With proper trust of the bank to the client, it allows you to receive a salary in advance if there is an urgent need.

FAQ

No, the car is your property from the moment of purchase, but remains the bank’s guarantee for the loan period. This means that you cannot sell the car, and you also have to pay for car insurance so that the bank can receive its money in any case.

Typically, interest rates are lower for new cars, because used cars less secure investment than new ones because they can break down or undergo repairs that will be more common than a new car. For new cars, interest rates are 2-5% lower and are the most popular way to finance cars in the Philippines.

Documents confirming income and identification are the main requirements for obtaining a car loan.
Application form with filled in fields.
Copy of Passport or any ID ( SSS ID, Driver’s License, Voter’s ID)
Working borrowers must submit documents: certificates from the place of work or COE, a copy of payslip for 2 months, income tax return from BIR or ITR within 1 year.
Self-employed applicants must submit documents : a copy of the ITR with THE bir stamp , a copy of registration with the DTI or SEC, and a copy of financial statements for a period of at least 2 years .
After buying a car, you need to pay for insurance.

Initial registration is usually done by agents, so you get a copy of OR / CR. You must remember that the initial registration is valid for 3 years, so after that you need to renew it annually in LTO.

On average, initial approval of a personal loan application can be made from 5 to 7 banking days.

The provision of loan funds to the client will take another 2 banking days.

You do not require any collateral or guarantor to apply for a Personal loan.

No, you don’t need to report money spent. You can use the money for a variety of personal needs, such as training, hospitalization, car upgrades, and paying bills.

Cash Loan, as a rule, is designed for small amounts up to 10,000 PHP and for a period of 1 month.
Such loans are issued by Payday lenders – micro financial companies. Interest rates are higher than rates of Personal loans issued by banks. But the approval period is on average from 2 to 12 hours. Also a distinctive feature of such loans is the ability to arrange them through applications on the android.
Personal loans are often issued by banks. The Personal loan term on average varies from 1 to 3 years in EWB. The interest rate is quite reasonable and usually ranges from 18% to 23% per annum. However, the term for consideration of the submitted documents will be from 5 to 7 days..

The longest loan period is 30 years.

Since this type of loan is associated with large amounts of money and a large volume of documents, the term for making a decision by the Bank depends on two stages of verification. First, the Bank will check your solvency, this stage takes no more than 5 working days on average. Then the Bank will need to check the documents for the land or property you are buying, as well as make an assessment of it.

There is no single solution. If you need the lowest monthly payment, then take loan for the maximum possible period. If you are not sure that you will have a consistently high income, then take as little time as possible.

Contacts

Full company name EastWest Bank
Address Beaufort, 5th Avenue Corner, 23rd Street, Bonifacio Global City, Taguig 1634
Phone number Customer Service Hotline (02) 8888-1700 Internal free 1-800-1888-8600 US free 1-866-828-6296 Corporate Office Trunk Line (02) 575-3888
E-mail service@eastwestbanker.com
Social networks

EastWest Bank (PSE: EW), more formally known as East West Banking Corporation, is the tenth largest privately owned domestic bank in the Philippines in terms of assets. It is a member of the Filinvest Group, one the largest conglomerates in the Philippines founded by the late tycoon Andrew Gotianun. Its headquarters is at The Beaufort, a condominium building by Filinvest in Bonifacio Global City.

User rating

Reviews

1 month ago

Thank you EastWest Bank! God bless!

The staff is friendly, the service is friendly and courteous. I always smile and say Thank you.