PSBank vs EastWest Auto Loan
Side-by-side comparison of PSBank (6.99% starting rate, 60 months max) vs EastWest (7.5% starting rate, 48 months max). This guide breaks down interest rates, loan terms, down payment requirements, approval speed, and total cost of ownership for Philippine car buyers in 2026.
Interest Rate
Varies by lender
Loan Term
12 – 60 months
Down Payment
20%
Processing
3 – 7 business days
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)
Certificate of Employment with compensation details
2 x 2 ID photo
Pros & Cons
Advantages
- PSBank offers rates from 6.99% — 60 months max.
- EastWest offers rates from 7.5% — 48 months max.
- Both options allow 20% minimum down payment for brand-new vehicles.
- This comparison saves you time by consolidating rate, term, and requirement data.
- Clear winner identified for different buyer profiles (rate-sensitive, convenience-focused, low-income).
Drawbacks
- PSBank maximum rate may reach 16% p.a. on longer terms or used cars.
- EastWest maximum rate may reach 16% p.a. under less favorable conditions.
- Neither provider guarantees the advertised starting rate — actual rate depends on credit assessment.
- Switching lenders mid-term incurs pre-termination penalties of 3–5% of the remaining balance.
Frequently Asked Questions
Which is better, PSBank or EastWest auto loan?
What is the PSBank auto loan rate in 2026?
What is the EastWest auto loan rate in 2026?
Can I switch from PSBank to EastWest mid-term?
How do I choose between two car loan providers?
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