Your Quick Guide to Applying for an EastWest Bank Personal Loan

Published: January 20, 2021 | Updated: July 26, 2021 | Posted by: Moneymax | Personal Loan

EastWest Bank Personal Loan Application Guide | Moneymax

Starting a business, renovating your home, settling medical bills, big-ticket purchases, and other unforeseen expenses—all these require a large sum of money. Unfortunately, not all of us have six or seven figures to our names. And so to achieve such goals, applying for a loan is undoubtedly one of the best solutions.

EastWest Bank may be just over two decades old, but it already has a lot of milestones when it comes to supporting Filipinos through personal loans. An EastWest Bank personal loan can be considered among the most reliable on the market. They offer competitive interest rates, and the processing is straightforward.

Here’s what you need to know about EastWest Bank personal loan.

What is EastWest Bank Personal Loan?

EastWest Bank describes its personal loan as a non-collateral and unsecured loan offered to qualified individuals for their personal use. One of its main features is that it can be used for different purposes, and it comes with fixed equal monthly installments.

Why Should I Apply for an EastWest Personal Loan?

eastwest bank personal loan purposes

When applying for a loan, you want to make sure that you’re not just getting the borrowed money; you are also looking for features that will ensure you’re not being shortchanged.

You will find practical and exciting benefits when you apply for an EastWest Bank Personal Loan. Here are some of them:

1. Multi-purpose

You can use the borrowed money for your wedding, child’s education, and vacations. If not, you can also use an EastWest Bank Personal Loan for renovating your home, settling medical bills, and funding special milestones.

2. No collateral required

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

3. Loan amount

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

4. Fast processing

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

5. 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.

6. Competitive interest rates

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

Read more: Should I Borrow Money from Private Lenders?

Get the right loan for you!

EastWest Bank Personal Loan Interest Rate

EastWest Bank has a systematic way of determining the interest rates of their loan. The bank has divided its interest rates into two categories:

  • First category: Includes rates for borrowers who have an existing credit card for at least 9 months.
  • Second category: Includes rates for those who do not have a credit card or do have a credit card for less than 9 months.

Here’s a comprehensive table for your easy reference:

Interest rates for the first category (applicants with an existing credit card for at least 9 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 9 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

If you notice, the interest rates are significantly lower when you have an existing credit card. So, if you have a credit card from any bank, you can maximize this particular benefit. Note, however, that these rates are subject to change, so it’s recommended to talk to the bank’s loan team to learn more. Who knows, you may even chance upon promos and discounts.

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 be also ready for some upfront fees and even penalties. Here are some of the fees and charges that you may need to cover when you apply for a personal loan at EastWest Bank.

1. Processing Fee: PHP 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 will borrow. EastWest Bank’s loan processing fee is only applicable to new accounts.

2. Documentary Stamp Tax: PHP 1.50 for every PHP 200

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

3. Late Payment Fee: PHP 500 or 8% per month

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

4. Processing Fee (Early Pay-off Of Loan)

PHP 500 or 8% of the outstanding principal, whichever is higher

5. Returned Check Fee: PHP 1,000 per check

6. Check Retrieval and Replacement Fee: PHP 200

Read more: Online Loans in the Philippines: What Filipinos Need to Know

EastWest Bank Personal Loan Requirements

eastwest bank personal loan 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 PHP 15,000. On the other hand, the basic annual income must not be less than PHP 180,000.

EastWest Bank also has a few documentary requirements. Make sure to present the following upon loan application:

  • Duly accomplished EastWest Online Personal Loan Application Form
  • 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

In case you are self-employed, you will 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

Read more: 6 Tips to Get a Personal Loan for Freelancers in the Philippines

Requirements for Loan Release

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

  • Original copy of documents (to be presented only)
  • Two valid IDs
  • Original signed application form. Prepare two copies; one will be presented to the lobby guard of the building and another to be presented to the EastWest Personal Loan Releasing Unit for verification.
  • Post-dated checks. Make sure that these are duly accomplished and signed. Avoid erasures, corrections, and alterations.

In case you want the proceeds of the loan to be delivered or credited to your bank account, the following requirements must be fulfilled and submitted:

  • Photocopy of one valid ID with three specimen signatures
  • Original copy of documents (to be presented only)
  • Post-dated checks. Make sure that these are duly accomplished and signed. Avoid erasures, corrections, and alterations.

How to Apply for an EastWest Bank Personal Loan

Ready to apply for an EastWest Personal Loan? Just follow these three simple steps:

  1. Fill out the application form [1], 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 secured 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 some discrepancies. Once you have submitted all of the requirements, you must wait for a call from a bank representative. You will also receive an email as a reminder.

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

eastwest bank personal loan application - via chatbot

If you wish to follow up on the status of your application, EastWest Bank has various channels that you can tap.

EastWest Bank Customer Service Channels:

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

How Can I Pay My EastWest Personal Loan?

Repaying your loan should be easy because you have many payment methods to choose from. You can issue post-dated checks (PDCs) upon loan release for your monthly loan payments.

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]

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

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.

Similarly, you may visit EastWest Accredited Payment Channels, which include Bancnet and SM Bills Payment Centers.

Note that 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

eastwest bank personal loan application tips

After your loan application has been approved, you will then receive your money. Upon receiving, do not think of it as a personal windfall – it’s just borrowed money that you will have to return eventually.

Since EastWest Bank has an auto-debit feature, use this, so your payments will automatically be directed to the bank.

Making extra payments, no matter how small they are, will be a big help. Try to tuck in some extras, such as PHP 500 or PHP 1,000 that can be used to pay the principal.

More importantly, when you’re in the process of repaying, you must live within your means. The money that you save can be redirected to your payments. Soon enough, you will 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 are likely to have more time, energy, and money than ever before.[3]

Here are more loan application guides from Moneymax:

Final Thoughts

Applying for a loan is one of the ways that can help you achieve your personal goal or settle some financial problems. However, know that it is not the be-all and end-all of financial solutions.

Before you apply, it would be wise to know your repayment capacity, so you will have an idea of how you will settle your bills responsibly.

For more information about EastWest Bank Personal Loan, visit the nearest EastWest Bank branch or check out their website. And for financial tips and some nuggets of wisdom for practical living, feel free to browse the articles here at Moneymax.

Apply for a Personal Loan for Free at Moneymax!

Personal Loan ProviderFeatures
Citibank Personal Loan
Get a Citibank Personal Loan with Moneymax
  • Fast approval time in as fast as 24 hours
  • Loan amount of up to P2 million
  • Flexible payment terms of up to five (5) years
EasyRFC Multi-Purpose Loan
Get EasyRFC Multi-Purpose Loan with Moneymax
  • Fast approval time in as fast as 24 hours
  • High loan amount of up to P150,000
  • Payment term of up to 12 months
SB Finance Personal Loan
Get SB Finance Personal Loan with Moneymax
  • Get approved within five banking days
  • High loan amount of up to P2 million
  • Flexible payment terms of up to 36 months
TALA Personal Loan
Get TALA Personal Loan with Moneymax

  • Fast approval time in as fast as 24 hours
  • Quick cash loan up to P15,000
  • 24/7 application using an Android phone