All About East West Bank Personal Loan

Last updated: April 11, 2024
Written by: Digido Financial Writers Team | Reviewed by: Anna Kireeva

Key takeaways:

  • EastWest Bank is one of the biggest banking institutions in the Philippines, it has millions of clients, but it also has strict policies about loans.
  • Applicants need to submit an application form, valid government ID, latest ITR or payslip.
  • If you applied for a EastWest Bank loan, and did not get approved, one alternative that you have to consider seriously is Digido.
  • It is 100% online. It is legal, fast and convenient, 95% get approved. You can get your first loan with 0% interest rate.
How much money do you need?
10 000
min ₱ 1 000
max ₱ 10 000
You will have to return*: 10 000
All your data is under secure protection!
*Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval

Who can get a Digido loan?

You are 21-70 years old
You are a Filipino citizen
You have a valid government ID

Eastwest Bank is one of the biggest commercial banks in the Philippines. You can make deposits here, do remittances, and more importantly, apply for a EastWest credit card or get a personal loan. But how? Today, we will tell you everything you need to know about how to get an EastWest Bank Personal Loan.

Eastwest bank personal loan

How Can I Get a Personal Loan from EastWest Bank?

There are two ways to get an EastWest Personal Loan. The first one is by going to the bank and talking to a banking personnel. The second method is to file online. Whichever method you choose, you have to fill out the application form and submit the required documents, which we will discuss in detail later.

To get a personal loan, you need to understand that the bank charges fees. There are many types of fees, and the cost varies according to the amount of your loan.

These fees are the following:

  • Processing Fee
  • Documentary Stamp Tax
  • Contractual Interest Rate
  • Late Payment Fee
  • Early Termination Fee
  • Check Retrieval and Replacement Fee

Costs and Penalties for Eastwest personal loans:

A processing fee of PHP 1,900 and documentary stamp tax are charged for loan processing and documentary stamp tax. Early repayment incurs a penalty of PHP 500 or 8% of the remaining principal, whichever is greater. Late payments are penalized with PHP 500 or 8% of the overdue amount, again whichever is greater.

Interest Rates for Eastwest bank loans:

EastWest Personal Loans offer varying interest rates and effective annual rates depending on the term and whether the borrower is carded or non-carded. For example, a 12-month carded loan has a monthly rate of 1.49% and an effective annual rate of 41.67%. The rates and effective annual rates increase with the loan term and are higher for non-carded loans.

Apply for your first personal loan with 0% interest rate!
  • Up to PHP 25,000 In only 4 minutes
  • 95% of applications get approved

→ Read information about Unpaid Online Loans in the Philippines

Eastwest Personal Loan Requirements

If you need EastWest credit, you can apply, but you will need to provide the necessary documents. Here are the EastWest Personal Loan requirements:

  1. You must be a Filipino citizen
  2. You must be at least 21 years of age
  3. You must have a landline number and a mobile number
  4. Your salary must at least be 15,000 pesos per month or annual income of not less than PHP 180,000.00

Eastwest personal loan

Foreigners may also apply, provided that they are permanently residing here. Also, by the time your loan matures, you must not be 65 years old. As far as salary is concerned, your gross annual salary must be at least 180,000 pesos.

If you meet these conditions, then you are already pre-qualified for the loan. However, it does not mean that you will be approved. The bank still has to do some background verification to see if you are really eligible.

Upon application, you also need to submit several documents as follows:

  • Application Form – you can get this from the bank, or you can fill it out online. You can also download the form, fill it out, and then hand it over to the bank personnel.
  • Valid ID – you need to submit a photocopy of your government ID. Some examples of these are SSS, GSIS, passport, and driver’s license.
  • ITR or Payslip – if you are employed, you have to submit your proof of income. Photocopy of the most recent ITR/BIR Form 2316. If you submit payslip, you have to submit three months’ worth of your payslip.
  • If you are a Foreign National – you must submit proof of your residence. Once your loan has been approved, you will also have to submit original copies of the documents you presented and then post-dated checks. You cannot apply for a loan from EastWest unless you have a checking account. This is the only mode of payment that they accept.

For Self-Employed Individuals:

  • If you are self-employed, you need to submit a copy of your income tax return, which you can get from the Bureau of Internal Revenue. Photocopy of the latest ITR/BIR Form 1701 and Audited Financial Statements.
  • Recent credit card Statement of Account.
  • DTI or SEC Registration (with share details for partnerships and corporations).
  • Optional: Proof of billing for additional verification.

If you want to apply online, all you need to do is to fill out the form and submit it online, too. The bank will send you notifications on what to do next.

→ Where to get Easy Cash Loan with no Bank Account?

Eastwest Bank Personal Loan for OFWs

There is really no difference between a regular personal loan and an EastWest bank personal loan for OFWs. The things they will ask if you are the same, but you will have to present your proof of employment.

If you are an OFW, you will also be required to submit your government IDs indicating that you are an OFW. This will include documents from POEA and your employer abroad.

The interest rates are the same since EastWest currently does not have a program for OFWs. Other banks in the Philippines provide better loan rates for OFWs so you may want to check them out if you are working abroad.

Apply now

→ Learn how to get Fast Loan in 15 Minutes

How to Get a Renewal in Eastwest Bank?

To get an EastWest Bank personal loan renewal, you must go to the bank and discuss your situation with a bank manager. They will file for a consideration, which will be approved by another department. Just take note that whenever you ask for a loan renewal, you may also pay a higher interest.
If you really think about it, the longer you pay your debt, the more money banks earn. This is how they earn – from interest. If possible, you have to carefully assess how much you can loan, and then only avail what you can afford to pay. Try to avoid an EastWest Bank Personal Loan extension if you could, as this will only result in you paying more money.

Eastwest bank loan Alternative

Who Does Not Fit Eastwest Bank Loans?

There may be some situations where your loan application may not be approved. Based on past experiences and customer feedback, here are the most common reasons:

  1. You need an amount less than 25,000 pesos. If your loan amount is too small, the bank will not make money off of the interest you pay. If you want to loan an amount that is smaller than this, you have to consider other options.
  2. You do not have a stationary phone number. EastWest requires that you have a landline and a mobile phone. The landline is a guarantee that you live where you say you do.
  3. You do not want to wait a few days for the loan decision. The loan process can take a week or more. If you are not willing to wait, and you need to loan as soon as possible, the bank may not grant you the loan at all.
  4. You do not want to pay a commission for processing the application. The commission is the interest. In your application form, you have to leave your signature indicating that you approve of the interest and the other fees. If you do not want to agree with this and you do not put your signature, you will not get approved.
  5. Your annual income is less than 180,000 pesos. EastWest bank requires that you have a salary of at least 180,000 pesos a year to ensure that you have the capacity to pay. The science behind this is not clear, but they have certainly factored in economic statistics.

These are the most common reasons why you cannot get approved for a loan, but there are others. For example, if you have a bad credit rating, you will not get approved. If your loan is too small, the bank will not get enough interest from you. You see, the interest you pay must be able to pay off their expenses for spending time with you, the paperwork expenses, and many more.

Speaking of interest rates, you can use the EastWest Bank Personal Loan calculator if you want to see how much your amortization is going to be. If you need more help, you can also call the EastWest Bank Personal Loan hotline (+632) 8888-1700.

Apply now

→ Explore information on Emergency Cash Loans in one Hour

Alternatives for Eastwest Personal Loan

If you do not think you can get approved, or if you were already denied a loan, you can try to get a loan from Digido.

Digido is a legally operating online financial services provider in the Philippines. It is registered with the Securities and Exchange Commission (SEC), ensuring its operations adhere to legal standards. Digido offers various financial products including short-term loans, which can be conveniently applied for through their digital platform. As a regulated entity, it adheres to the financial regulations and guidelines set by Philippine authorities, ensuring a secure and compliant service for its customers.

Digido is a great option because of the following reasons:

  • You can loan up to PHP 25,000 in just 4 minutes
  • Everything is processed quickly online
  • You do not have to pay high-interest rates – your first loan with 0% interest rate
  • You can get credit 24/7 via mobile App
  • You can get a loan without an official job and even without a bank account

Calculate your pre-approved loan amount with Digido online loan calculator ⬇️

I want to borrow ₱ 10000
Min: ₱ 1000
Max: ₱ 20000
Payment Terms 10 days
7 days
21 days
My Monthly Gross Income ₱ 20000
You return*: 10 000
All your data is under secure protection!
We recommend taking a loan!

* Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval.

Here are simple loan qualifications and requirements for Digido loan:

✅ 1 valid government-issued ID

✅ Must be between 21 and 70 years old

✅ A working mobile phone

Digido Benefits for Personal Loan

All operations are performed online - you don't have to leave your house
In only 4 minutes you can receive up to 10,000 pesos in your bank account, and up to 25,000 pesos for repeat borrowers.
We don't require guarantors representation, documentation, or guarantee deposits.
We only require 1 government valid ID

  • Digido does not need a landline, and it is alright if you loan less than 25,000 pesos. The least amount Digido can loan you is 1,000 pesos.
  • With Digido, you can apply for a loan online with no need to go to their office physically. Just go to the website, fill out the application form, and then submit scanned copies of the documents required.
  • Also, the processing time will take lesss than 30 minutes. Only in special circumstances they willdo it longer.
  • Once your loan is approved, Digido will transfer the money to your bank account. Another thing worth mentioning is that you do not need a check to be able to pay Digido. Just make your payments online on your due date.
Get up to PHP 25,000 in just 4 minutes!

→ Learn all about Fast Loans With Bad Credit Score

About EastWest Bank

Eastwest bank loan

Founded on July 6, 1994, by Andrew Gotianun, EastWest Bank quickly distinguished itself in the Philippine banking sector. It was one of the early adopters of an online customer service system, enhancing its efficiency in serving both individuals and legal entities. The bank’s commitment to innovation was recognized with a “Best Website” award in 2004. Its growth strategy included significant acquisitions like Green Bank and Standard Chartered Bank Philippines, expanding its reach in agricultural banking, microfinance, and personal loans. By 2017, EastWest held a substantial market share in car and real estate loans and had a widespread presence with over 580 ATMs and 445 branches nationwide. The bank’s divisions include life insurance, risk insurance, and marketing services. Headquartered in Manila, its branches operate Monday to Friday, with specific hours varying by region. For a more comprehensive understanding of their services, we always advisable to read an EastWest Bank personal loan reviews.

In conclusion, EastWest Bank’s loan offerings present a blend of flexibility and accessibility, catering to a diverse range of financial needs. The bank’s competitive interest rates, varied loan types, and customer-centric approach make it a strong contender in the banking sector.

→ Discover details about How to Renew Business Permit

→ Get insights into What is Phone Loan in the Philippines?


  • How do I pay my EastWest bank loan online?
    Yes, it is possible. Debit payments made before 8 p.m., are posted within 24 hours. Your credit limit will be updated the next banking day.
  • How can I check my car loan balance in EastWest Bank?
    Go to Smart Menu and select Mobile Banking. Select a bank then select the account. Enter your PIN, press OK. You will see your balance.
  • How much is the credit limit for EastWest Bank?
    The initial limit on your Virtual Card is Php 10,000. You can up to Php 100,000 if you score well in EastWest.
  • How can I find out the current status of my EastWest loan?
    To find out the status of your loan with EastWest, you can contact their round-the-clock Customer Service at 888-1700 or send an email to
  • When should I expect to pay my monthly installment for my EastWest bamk loan?
    Your monthly payment's due date is set according to when your loan was approved. EastWest Bank will inform you of your payment schedule once your loan is approved.
  • What are the penalties for late payments on my EastWest bank loan?
    If you miss a payment, you'll be charged either ₱500.00 or 8% of the overdue amount per month, depending on which is more.
  • What is the procedure to renew my personal loan with EastWest?
    To renew your EastWest Personal Loan, you'll need to go through the same process as applying for a new loan, as they don't automatically renew loans.
Disclaimer and Editor’s note


Digido Financial Writers Team is a team of experts in the field of finance and credit, specializing in writing articles for Digido blogs.
Anna Kireeva
Author pages:
Anna is a marketing communications professional who specializes in digital marketing strategies and long-form content.

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