What Are the EastWest Bank Cash Loan Interest Rates 2024 Borrowers Must Know
EASTWEST BANK CASH LOAN INTEREST – Here is a guide for clients on the interest rates set by the EastWest Bank under its Personal Loan.
Have you heard about the Personal Loan offer of the EastWest Bank? It is a multi-purpose loan that can provide the solution to your multiple financial needs. However, before, rushing for application, it is best to know the details about the offer including the interest rates.
Truth be told that many people usually commit a mistake of not checking the interest rate when applying for a loan. A lot of individuals are satisfied with just knowing how much the monthly amortization will be — which can be a trap. It is best to know the interest rates to assess if you can really afford the loan in the long run.
Before checking the interest rate under the EastWest Bank loan offer, it is important to remember that the loan application is open for both Filipino citizens and foreign nationals who are permanently residing in the Philippines.
To qualify for the loan, the borrower must be at least 21 years old at the time of the loan application but not more than 65 years old upon the loan maturity. Also, he/she must have at least one fixed landline number and a mobile number.
The EastWest Bank requires a gross monthly income of at least Php 15,000 per month for qualification the loan offer. With regards to the EastWest Bank cash loan interest rates, it depends if you have an existing credit card or a bank loan of at least nine (9) months or none.
In case you have an existing credit card or a bank loan with at least nine (9) months left in the repayment term, here are the EastWest Bank cash loan interest rates based on the loan term:
| Tenor | Monthly Rate | Factor Rate | Contractual Interest Rate | Effective Interest Rate* |
| 12 months | 1.79% | 0.1012333 | 37.54% p.a. | 50.27% p.a. |
| 18 months | 0.0734556 | 37.45% p.a. | 48.50% p.a. | |
| 24 months | 0.0595667 | 36.98% p.a. | 46.97% p.a. | |
| 36 months | 0.0456778 | 35.78% p.a. | 44.42% p.a. |
If you have no credit card nor any existing bank loan with a term of at least nine (9) months, there is a different set of interest rates. Here’s a guide with regards to this case:
| Tenor | Monthly Rate | Factor Rate | Contractual Interest Rate | Effective Interest Rate* |
| 12 months | 1.99% | 0.1032333 | 41.51% p.a. | 56.19% p.a. |
| 18 months | 0.0754556 | 41.31% p.a. | 54.19% p.a. | |
| 24 months | 0.0615667 | 40.70% p.a. | 52.41% p.a. | |
| 36 months | 0.0476778 | 39.26% p.a. | 49.42% p.a. |
To apply for the loan offer, there are EastWest Bank Cash Loan requirements for application that you need to submit to the bank. The list of requirements depend if you are employed or self-employed.