Bank
EastWest Bank Auto Loan
With interest rates starting at 7.5% p.a., EastWest Bank Auto Loan finances new and used vehicles up to ₱3,000,000. Borrowers need at least 20% down and can spread payments over 12 – 48 months.
Quick Facts
7.5% – 16% p.a.
Interest Rate
20%
Min. Down Payment
12 – 48 months
Loan Term
3 – 5 business days
Processing Time
Maximum loan amount: ₱3,000,000
Requirements
- Valid government-issued ID (passport, driver's license, or UMID)
- Proof of income (latest 3 months payslips or ITR)
- Proof of billing address (utility bill dated within 3 months)
- Post-dated checks (PDCs) covering the loan term
- Filled-out auto loan application form
- TIN (Tax Identification Number)
Pros & Cons
Pros
- Rates start at 7.5% p.a. — competitive among Philippine bank auto loans.
- Maximum financing of ₱3,000,000 covers most new vehicles on the market.
- Loan terms up to 48 months keep monthly payments as low as ~₱81,250/month.
- Minimum down payment of just 20% reduces upfront cash needed.
- Applications accepted at 400+ branches.
Cons
- Maximum rate of 16% p.a. applies to used cars or longer terms.
- Requires at least 20% down payment — on a ₱3,000,000 vehicle that means ₱600,000 cash upfront.
- Processing takes 3 – 5 business days, slower than some dealer-arranged financing.
- Minimum gross monthly income requirement of ₱25,000 excludes entry-level earners.
Frequently Asked Questions
What is the EastWest Bank auto loan interest rate in 2026?
EastWest Bank auto loan interest rates range from 7.5% – 16% p.a. depending on the vehicle age, loan term, and borrower profile. Shorter terms and brand-new vehicles typically qualify for the lower end of the range.
How much down payment does EastWest Bank require for a car loan?
EastWest Bank requires a minimum down payment of 20% of the vehicle's selling price. For example, on a ₱1,000,000 car the minimum equity is ₱200,000.
How long does EastWest Bank auto loan approval take?
EastWest Bank auto loan applications are typically processed within 3 – 5 business days. Having complete documents ready at the time of application speeds up the release.
Can I use a EastWest Bank auto loan for a used car?
Yes, EastWest Bank finances both brand-new and pre-owned vehicles. Used car loans may carry higher rates (closer to 16% p.a.) and the vehicle must generally be no older than 8 years at loan maturity.
What documents do I need for a EastWest Bank auto loan?
You will need a valid government ID, proof of income (latest 3 months payslips or ITR), proof of billing address, and a completed application form. Self-employed applicants must also submit DTI/SEC registration and audited financial statements.