Guide on EastWest Personal Cash Loan 2024 Features
EASTWEST PERSONAL CASH LOAN 2024 is ready to provide you with the extra funds you need for multiple purposes.
Among the many loan offers of the EastWest Bank, the one that is most flexible when it comes to the purposes it serves is the Personal Loan offer. The bank boasts its offer with high loanable amounts, flexible loan terms, and easy payment processes.
You may apply for the EastWest Personal Cash Loan offer to make personal purchases, to get your car repaired, to travel, to host an event, to accomplish a project, etc. Here are the loanable amounts set by the bank under the loan offer:
- Minimum Loanable Amount — Php 25,000
- Maximum Loanable Amount — Php 2 million
The loan is non-collateral. You do not need to use a residential property, a car, or any valuable property under your name as the collateral to qualify for the offer. The bank also does not require a co-maker in the application for the loan offer.
With regards to the loan term, the loan is payable from 12 months or one (1) years up to 36 months or three (3) years. With regards to the interest rates under the loan offer, they vary depending on whether or not the borrower has an existing credit card or bank loan of at least nine (9) months.
In case the client has an existing credit card or bank loan of at least nine (9) months, here are the interest rates implemented by the bank as per the loan term:
| With Existing Credit Card or Bank Loan of At Least 9 Months | ||||
|---|---|---|---|---|
| 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. | |
In case the client has no existing credit card or bank loan of at least nine (9) months, here are the interest rates that the bank implement under the EastWest Personal Cash Loan:
| Without Existing Credit Card or Bank Loan of At Least 9 Months | ||||
|---|---|---|---|---|
| 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. | |
The bank has set some qualifications in applying for the loan offer. There are also some EastWest Personal Loan requirements that must be submitted in applying for the loan. The documents required by the bank varies among the employed and self-employed individuals and foreign nationals: