Guide on the EastWest Bank Auto Loan Requirements 2024 Application Process
EASTWEST BANK AUTO LOAN REQUIREMENTS 2024 – Listed here are the documents required by the EastWest Bank in applying for the loan offer.
In the Philippines, one of the banks with multiple loan offers is the EastWest Bank. It is a trusted banking entity in the country that has been in the service of countless Filipinos for decades already.
Another loan offer of the EastWest Bank aside from the EastWest Bank Cash Loan is the Auto Loan offer. It is open to finance a car purchase whether the vehicle is brand new or pre-owned/second hand. It is open for both individual borrowers and corporates and the bank has set different requirements among both.
The EastWest Bank Auto Loan requirements include both the eligibility requirements and the documentary requirements. Here are the qualifications set by the bank in applying for the loan offer:
Individual Borrowers
- 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
- Salaried or self-employed
- For locally employed, must have regular or permanent status upon application
- Gross monthly income of not less than PHP60,000
Corporate
- Registered business entity that has been profitably operating for at least 3 years
- Gross monthly income of not less than PHP200,000
The EastWest Bank Auto Loan requirements, in terms of documents needed for submission, also depend if the borrower is an individual or a corporate. Here are the documents required by the bank for application:
Individual Borrowers
- Completely filled-out Application Form
- Two (2) valid government-issued IDs
- Income Tax Return
- Certificate of Employment if employed
- If engaged in Business:
- Business Registration Certificate
- Business Permit
- Financial Statement (for the last 3 years)
- Bank Reference/Statements
- Proof of other Income Sources
- Identification Papers e.g. Driver’s License, SSS/GSIS cards, Company ID, Passport, etc
- For OFW applicant:
- 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)
Corporate
- Completely filled-out Application Form
- Financial Statements for the last 3 years (both Audited and In-House)
- Income Tax Return
- Articles of Incorporation
- By-laws
- List of Major stockholders, addresses and ownership
- List of principal officers, positions, and addresses
- List of Beneficial Owners and Attestation of Beneficial Ownership Declaration
- Company Profile
- Business write-up
- Trade References – at least 3 major suppliers and 3 major clients
- Bank References (Deposit Accounts; Credit Lines and existing/paid loans)