Guide on EastWest Bank Auto Loan Requirements 2025 for Individual Applications
EASTWEST BANK AUTO LOAN REQUIREMENTS 2025 – For employed and self-employed individuals who want to apply for the offer, here are the documents required by the bank for application.
Are you one of the people who are looking forward to driving your own car soon? You don’t have to wait long to turn that dream into a reality. You can start driving anywhere now while paying for your wheels in low monthly amortizations.
There are car loan offers that you can turn to. One of them is the EastWest Bank Auto Loan offer that can finance the purchase of both brand new and pre-owned vehicles. The bank is operating in the Philippines since the mid 1990s and there are millions of people who have greatly benefitted from its offers.
Aside from the EastWest Bank offering different kinds of credit cards including the EastWest Priority Visa Infinite credit card, the bank also has several loan offers and its Auto Loan offer is packed with excellent features including affordable downpayment, convenient payment options, and multiple financing terms to choose from.
The EastWest Bank Auto Loan requirements include both qualifications and documents that must be prepared and submitted to the bank. The loan offer is open not only for salaried and non-salaried individuals but as well as corporates.
In the case of employed and self-employed individuals who want to apply for the loan offer, here are the qualifications that the applicant should meet to be eligible to apply for the offer:
- between 21 years old and 70 years old at the time of loan maturity
- Filipino citizen, foreigner residing in the Philippines for at least 1 year, or foreigner with a Filipino co-maker
- must have regular or permanent status upon application if employed
- gross monthly income of not less than PHP40,000
There is a short list of documentary requirements for the EastWest Bank Auto Loan application. For salaried and non-salaried loan applicants, make sure to prepare and submit the following:
- duly-accomplished EastWest Bank Auto Loan Application Form
- at least two (2) government-issued IDs
- income documents
There are also EastWest Bank Auto Loan requirements for the release of the loan offer. For approved applications, the following need to be submitted:
- Spouse as co-maker (for married applicants)
- Comprehensive insurance policy with Acts of God (AOG) coverage from an EWB-accredited insurance company
- income documents:
- For employed individuals, prepare Certificate of employment or latest 3 months payslips;
- For self-employed individuals, prepare DTI Registration or Municipal Permit and for business entities, prepare SEC registration
- trade references for self-employed applicants
In the case of pre-owned vehicles, you also need to prepare motor vehicle inspection and appraisal and the car history verification. According to the EastWest Bank, it is also important to prepare for the following:
- Downpayment
- Chattel Mortgage Fees
- Insurance Policy
- LTO Registration Fees
- Out-of-Town fees (as applicable)
Aside from the car loan offer, the bank also has the EastWest Cash Loan.