Guide on Requirements for EastWest Auto Loan Offer Application
REQUIREMENTS FOR EASTWEST AUTO LOAN – If you are an overseas Filipino worker (OFW) who is planning to apply, you can check the requirements below.
Some banks in the Philippines have loan offers for Filipinos who are working abroad. One of these is EastWest Bank which offers an auto loan for OFWs who wishes to secure their dream car under monthly installment basis.
The EastWest Bank Car Loan offer is open for both brand new and pre-owned vehicles. It features its loan offer with affordable downpayment which is just 20% of the selling price of the vehicle. It is open not only for individual applications of individuals who are employed or running a business in the Philippines but as well as overseas Filipino workers (OFWs).
Qualifications:
To be eligible to apply for this loan offer, an OFW applicant must be:
- at least 21 years old upon the loan application but not over 70 years old upon the loan maturity
- a Filipino citizen, a foreigner residing in the Philippines for at least a year already, or a foreigner with a Filipino co-maker
- earning at least Php 60,000 gross monthly income
Loanable Amounts, Interest Rates & Loan Term
Under this loan offer of EastWest Bank, you may borrow at least Php 200,000.00 up to 80% of the selling price of the vehicle. You can repay the loan from 12 months up to 60 months. With regards to the interest rates, the rates differ among brand new and pre-owned vehicles. To check on the interest rates, you may visit – EastWest Car Loan Interest Rate for Brand New, Second-Hand Vehicles.
List of Requirements for EastWest Auto Loan offer if you are “EMPLOYED”:
- duly-accomplished and signed EastWest Bank Car Loan Application Form
- Complete Name
- Complete Residential Address:
- Contact Number:
- At least one (1) government-issued valid ID
- For OFW Direct Hire:
- COEC w/ original 6-month remittances, or;
- COEC w/ original 6-month payslip, or;
- Consularized Certificate of Employment w/ Compensation (COEC)
Do you want to apply for the said EastWest Bank loan offer? For a guide on the application process, feel free to visit – EastWest Bank Car Loan: Guide on How To Apply for Auto Loan Offer.