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How to Apply for an EastWest Bank Personal Loan

Rouselle Isla

Rouselle Isla

Last updated January 25, 2023

Starting a business, renovating your home, settling medical bills, and making big-ticket purchases require a large sum of money. Unfortunately, not all of us earn six or seven figures. To pay for such expenses, applying for a loan is one of the best solutions.

For three decades, EastWest Bank has achieved milestones in supporting Filipinos through personal loans. It offers competitive interest rates and processes applications quickly. Here’s what you need to know about how to apply for a personal loan at EastWest Bank.

What is the EastWest Bank Personal Loan?

The EastWest Bank Personal Loan is a non-collateral and unsecured loan offered to qualified individuals for their personal use. This multi-purpose loan comes with fixed, equal monthly installments.

Why Should I Apply for an EastWest Personal Loan?

how to apply personal loan in eastwest bank - purposes

When applying for a loan, you want to ensure that you won’t be short-changed. You’ll enjoy practical and exciting benefits from an EastWest Bank Personal Loan application. Here are some of the loan's features:

✔️ Multi-Purpose

You can use the EastWest Bank Personal Loan to finance your wedding, child’s education, or vacation. The loan can also be availed to renovate your home, settle medical bills, and fund special milestones.

✔️ No Collateral Required

You don’t have to put your house, car, or other assets as collateral. Also, you don’t need to have a co-maker.

✔️ High Loan Amount

The bank’s loanable amount is flexible, allowing you to borrow money ranging from ₱25,000 to ₱2 million. However, the amount you’ll qualify for is subject to the bank’s approval.

✔️ Fast Processing

One of the loan’s key features is convenience, as you can apply within the comfort of your home or office. You can also choose to get the proceeds of the loan via Manager’s Check or your EastWest Bank account.

✔️ Flexible Payment Terms

EastWest Bank Personal Loan’s payment terms can be split into 12, 18, 24, and 36 months, thus giving you affordable installment options.

✔️ Competitive Interest Rates

When you have a loan with a low interest rate, it will be easier to manage your cash flow. Refer to the next section to learn more about EastWest Bank’s loan interest rates.

Apply for a personal loan through Moneymax

EastWest Bank Personal Loan Interest Rate

EastWest Bank has a systematic way of determining interest rates. The bank divides its interest rates into two categories:

  • First category: For borrowers who have had an existing credit card for at least nine months
  • Second category: For those who do not have a credit card or have had a credit card for less than nine months

Here’s a comprehensive Eastwest Bank Personal Loan table for your easy reference:

Interest rates for the first category (applicants with an existing credit card for at least nine months)

TenorMonthly RateContractual Interest Rate
12 months1.49%31.51% per annum
18 months1.59%33.54% per annum
24 months1.59%33.19% per annum
36 months1.69%34.01% per annum

Interest rates for the second category (applicants without an existing credit card or with a credit card for less than nine months)

TenorMonthly RateContractual Interest Rate
12 months1.89%39.53% per annum
18 months1.89%39.39% per annum
24 months1.89%38.85% per annum
36 months1.89%37.53% per annum

The EastWest loan interest rates are significantly lower when you have an existing credit card. If you have a credit card from any bank, you can maximize this particular benefit.

Note, however, that these rates are subject to change. Talk to the bank’s loan team to learn more. Who knows, you may even chance upon promos and discounts.

Where Should You Use Your EastWest Bank Personal Loan?

Getting approved for an EastWest Bank personal loan is an opportunity for you to manage your finances properly. You can use this loan for the following:

👉 Debt Consolidation

If you have unpaid credit cards or debts from other lenders, paying them off with your EastWest Bank personal loan is a good idea because of its low interest rates.

Debt consolidation allows you to put all your unpaid financial obligations into just one account. It will minimize the hassle of remembering due dates and missing payments. However, before applying, make sure that you compare the rates, penalties, and fees.

👉 Home Improvement

Planning to improve or repair areas in your house? Home improvement projects aren’t cheap, but you can start with mini projects suited to your loanable amount. Why not use your EastWest Bank personal loan to set up a home office, a breakfast nook, a reading corner, or a laundry area?  

👉 School Expenses

how to apply personal loan in eastwest bank - school expenses

Sending your children to school is very costly. While educational institutions offer discounts, which you can avail of by enrolling early and paying in full, you can also apply for an EastWest Personal Loan to settle school expenses and tuition fees. This way, you won’t have to worry about the repercussions of non-payment of school fees. 

You can also pay for your own education. Get an EastWest Bank Personal Loan to enroll in paid classes that will broaden your horizons and push your career further.

👉 Emergency Fund

You don’t need an immediate reason to get an EastWest Bank Personal Loan. Once approved, you can set the money aside for your emergency fund. 

You can either open a savings account to keep the funds safe or keep it at home to have cash on hand. When times are tough, readily available cash can give you peace of mind.

EastWest Personal Loan Fees and Charges

When you apply for a loan, you’re not just paying back the principal and the interest. You must also prepare for some upfront fees and even penalties.

Here are some of the fees and charges you may need to cover when applying for a personal loan at EastWest Bank.

💸 Processing Fee: ₱1,900

This is a one-time fee that will cover the processing of your application. The fee will be taken from the money that you’ll borrow. EastWest Bank’s loan processing fee is only applicable to new accounts.

💸 Documentary Stamp Tax: ₱1.50 for every ₱200

This fee will also be deducted from the loan money that you’ll get from EastWest Bank.

💸 Late Payment Fee: ₱500 or 8% per month

Borrowers who fail to pay on the due date will be liable to pay ₱500 or 8% per month of the past due amount, whichever is higher.

💸 Processing Fee: ₱500 or 8%

If you pay the loan before it matures, you’ll be charged ₱500 or 8% of the outstanding principal, whichever is higher.

💸 Returned Check Fee: ₱1,000 per check

If your check is returned due to insufficient funds, uncleared deposits, or any other reason, you'll have to pay a fee of ₱1,000 per returned check.

💸 Check Retrieval and Replacement Fee: ₱200

For retrieval and replacement of post-dated checks, you'll be charged a fee of ₱200.

EastWest Bank Personal Loan Requirements

how to apply personal loan in eastwest bank - requirements

To be eligible for EastWest Bank’s Personal Loan, the applicant must be/have:

  • A Filipino citizen. If you’re a foreigner, you should be a permanent resident of the Philippines
  • 21 years old during application and not more than 65 years old upon the maturity of the loan
  • Have at least one fixed landline number, which could be either your home or business number. Applicant must also have a mobile number. Note that the mobile number will not be accepted as the principal and standalone contact number
  • Have a gross (basic) monthly income of at least ₱15,000

Make sure to present the following upon your EastWest Personal Loan application:

  • Duly accomplished EastWest Online Personal Loan Application Form[1]
  • Photocopy of at least one valid digitized Philippine ID, which bears your photo and signature
  • Proof of income
  • Proof of residence for foreign nationals

📌 Requirements for Self-Employed Individuals

If you’re self-employed, you’ll need to present all of the following EastWest Bank Personal Loan requirements:

  • Photocopy of latest ITR/BIR Form 1701 and Audited Financial Statements
  • DTI Registration Certificate (for Sole Proprietorship)
  • SEC Registration Certificate with a page stating shares owned by the applicant (for Partnerships or Corporations)
  • Valid Credit Card reference or the latest Credit Card Statement of Account
  • Other documents that the bank may require for further verification, such as a Business Permit or Mayor’s Permit

📌 Requirements for Employed Individuals

Employed borrowers should provide any of the following:

  • Copy of the latest ITR/BIR Form 2316
  • Pay slips for the last three months
  • Active credit card reference or its latest Credit Card Statement of Account

📌 Requirements for Loan Release

When your application has been approved and the loan is about to be released, you'll need to bring the following with you:

  • Original copy of documents (to be presented only)
  • Two valid IDs
  • Two copies of the original signed application form—one will be presented to the lobby guard of the building and another will be presented to the EastWest Personal Loan Releasing Unit for verification
  • Duly accomplished and signed post-dated checks without erasures, corrections, and alterations

If you want the loan's proceeds to be delivered or credited to your bank account, fulfill and submit the following requirements:

  • Photocopy of one valid ID with three specimen signatures
  • Original copy of documents (to be presented only)
  • Duly accomplished and signed post-dated checks without erasures, corrections, and alterations

How to Apply for a Personal Loan at EastWest Bank

Ready to apply? Just follow these simple EastWest Bank Personal Loan application steps:

  1. Fill out the application form, which you can find on EastWest Bank’s website at
  2. Read the terms and conditions carefully.
  3. Prepare copies of the required documents. Refer to the previous section for the list of documents. Once you have the documents, email them to

Before submitting the documents, make sure that all the details are accurate and consistent. Otherwise, there will be delays if the bank notices discrepancies. 

Once you've submitted all of the requirements, wait for a call from a bank representative. You'll also receive an email as a reminder.

You can also apply for an EastWest Bank Personal Loan via the Facebook Messenger chatbot. Just send a message to EastWest Bank's official Facebook page and follow the loan application guide.

how to apply personal loan in eastwest bank - application via chatbot

How to Check Your EastWest Bank Loan Application Status

If you wish to follow up on your EastWest Personal Loan status, there are various customer service channels that you can tap.

  • Hotline: (+632) 8888-1700
  • Email:

How Can I Pay My EastWest Personal Loan?

Repaying your loan should be easy because you have many payment methods to choose from. 

✔️ Post-Dated Checks 

You can issue post-dated checks (PDCs) upon loan release for your monthly loan payments.

✔️ Over the Counter

Alternatively, you may pay in cash or check at any EastWest Bank branch (or store, as the bank calls it) in major cities and key towns. Note that payments made within banking hours will be posted within 24 hours. Visit EastWest Bank’s locator to find a branch near you.[2]

✔️ Online

How to pay your EastWest Personal Loan online? If you’re an EastWest account holder, you can visit and log in to your account to pay your loan online. 

✔️ Automatic Debit Arrangement 

If you want a more convenient payment mode, you can use the bank’s Automatic Debit Arrangement. This will also help you ensure you won’t miss the due date. The said arrangement allows people to specify whether to pay the Minimum Payment Due automatically or the Total Statement Balance on every due date.

✔️ Direct Debit Payment

You can also make direct debit payments at EastWest ATMs. If it’s your first time, just follow the instructions on the screen. Payment made before the 12-midnight cut-off will be posted on the next banking day.

✔️ Accredited Payment Channels

Similarly, you may pay via EastWest Accredited Payment Channels, which include BancNet ATMs and SM Bills Payment Centers.

Aside from the monthly loan payments, you can also pay for personal loan fees (e.g., pre-payment fee, penalties, accrued interest, etc.) or your total outstanding balance using any of the above-mentioned payment channels, except for the PDCs.

Tips on Paying Your EastWest Loan on Time

how to apply personal loan in eastwest bank - application tips

It’s essential to manage your EastWest Personal Loan responsibly, as it will benefit you in the future should you need to apply for an EastWest Personal Loan renewal. Here are some tips to remember. 

  • It’s not free money. After your loan application is approved and you receive the loan proceeds, don’t think of it as a personal windfall. It’s just borrowed money that you’ll have to return eventually.
  • Use EastWest Bank's auto-debit feature so that your payments will automatically be directed to the bank.
  • Make extra payments, no matter how small. Try to tuck in an extra ₱500 or ₱1,000 that can be used to pay the principal.
  • Live within your means while you’re in the process of repaying. The money that you save can be redirected to your payments. Soon enough, you’ll realize that a streamlined lifestyle will give you other benefits, such as developing a habit of saving and knowing the right priorities. When you own less and spend less, you will likely have more time, energy, and money than ever before.[3]

EastWest Bank Personal Loan FAQS

how to apply personal loan in eastwest bank - faqs

1. Can I apply for an EastWest Bank personal loan online?

Yes. You can apply for a personal loan online through EastWest Bank's official website. 

2. Do I need collateral or a co-maker to apply for an EastWest Bank personal loan?

You don’t need collateral or a co-maker to apply. However, having a checking account can make it easier for you to guarantee loan payments. 

3. Do I need to pay an application fee?

Yes. Applying for an EastWest Bank personal loan comes with a ₱1,900 application fee deductible from your loaned amount.

4. What is the EastWest Bank Personal Loan processing time?

EastWest Bank personal loan approval and processing takes about five to seven banking days. The bank allots two days for check pickup, and another two to four banking days for the loan amount to be credited to your bank account. 

5. How much will be my monthly loan payments?

Try the EastWest Personal Loan calculator to get an estimate of your monthly loan payments. A sample computation for a credit cardholder for the past 12 months who wants to borrow ₱50,000 will have these estimated monthly installments: 

Terms Monthly Installment
12  ₱4,911.67
18 ₱3,572.78
24 ₱2,878.33
36 ₱2,233.89

6. How long can I pay my personal loan? 

The minimum loan tenure is 12 months and the maximum period to pay off the loan is 36 months. 

7. What if I fail to make my monthly payment?

Missing a payment can be very expensive. If you fail to pay your monthly due, you’ll be charged an 8% penalty, or ₱500, whichever is higher. 

8. Can I pre-terminate my loan? 

Yes. You can always pay your loan balance in advance and in full. However, please note that a loan pre-termination comes with a ₱500 or 8% charge.

Here are more personal loans you can explore:

Final Thoughts

By applying for a personal loan in the Philippines, you can achieve your personal goals or settle some financial problems. However, it’s not the be-all and end-all of financial solutions.

Now that you know how to apply for a personal loan at EastWest Bank, determine your repayment capacity so you’ll learn how to settle your bills responsibly.

For more information about the EastWest Bank Personal Loan, visit the nearest EastWest branch, check the website, or call the designated EastWest personal loan contact number. 

If you want to explore other personal loans in the Philippines, browse our personal loan guides and compare different loans for free on the Moneymax website. 

Apply for a Personal Loan for Free at Moneymax!

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Rouselle has over eight years of writing experience in the personal finance niche. She has written feature stories, articles, and how-to guides on various personal finance and trending lifestyle topics. Before that, she briefly worked in banking and was a licensed life insurance advisor. When not writing, Rouselle likes to read books and binge-watch films and series. Follow Rouselle on Linkedin.