Guide on EastWest Bank Auto Loan 2024 Features & Application
EASTWEST BANK AUTO LON 2024 is ready to help you purchase your dream car so you can drive and enjoy it soon.
Are you looking for a trusted entity that can finance your car purchase? In the Philippines, banks are among the entities that you can turn to when it comes to car loans. There are many reputable banks in the country with the said offer.
One of the car loan-providing bank that you may turn to is the EastWest Bank. Operating in the country since the 90s, it has continually grew its offers through the years. It has multiple loans which include the EastWest Bank Auto Loan offer.
There is a huge advantage in having your own car. Aside from the convenience it brings as you can get to your destination anytime you need to, it is also an excellent preparation against the circumstances that are beyond expectation.
With regards to the coverage of the EastWest Auto Loan offer, it can finance the purchase of both brand new and pre-owned vehicles. It boasts its loan offer with the following features:
- affordable downpayment
- low monthly amortization
- multiple financing options
- convenient payment options
Under the loan offer, the bank requires a downpayment of at least 20% of the selling price of the vehicle. Here are the minimum and maximum loanable amounts under the EastWest Bank Auto Loan offer:
- Minimum Loanable Amount — Php 200,000
- Maximum Loanable Amount — up to 80% of the selling price of the vehicle
With regards to the loan term, minimum term allowed by the EastWest Bank is 12 months. The bank allows a maximum repayment of 60 months. With regards to the interest rates, they vary depending on the type of vehicle and the chosen loan term.
| TYPE | INTEREST PAYMENT | 12 Months | 18 Months | 24 Months | 36 Months | 48 Months | 60 Months |
|---|---|---|---|---|---|---|---|
| Brand New | In Advance | 5.10% | 7.94% | 10.84% | 16.79% | 22.94% | 29.27% |
| In Arrears | 6.06% | 8.93% | 11.86% | 17.86% | 24.07% | 30.46% | |
| Second Hand | In Advance | 6.04% | 10.16% | 14.93% | 24.08% | 34.25% | |
| In Arrears | 7.19% | 11.45% | 16.37% | 25.68% | 36.04% |
The EastWest Bank Auto Loan offer is open for both salaried and non-salaried individuals. Even corporations may apply for the loan offer.