| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 39.82–47.03% | ₱25k–₱3M | 12–60 mo | personal |
Best For
Individuals earning at least ₱25,000 monthly who need a significant personal loan without collateral.
Individuals with a steady income of at least ₱25,000 who need a large unsecured loan for personal or emergency expenses.
EastWest Bank provides unsecured personal loans from ₱25,000 to ₱3 million with a monthly add-on rate of 1.79% and terms ranging from 12 to 60 months.
Pros & Cons
Watch Out
The interest rates can be quite high, especially for longer terms, leading to substantial repayment amounts.
Full Review
This loan from EastWest offers amounts from ₱25,000 to ₱3 million, making it suitable for various personal expenses. However, the effective interest rate (EIR) ranges from 39.82% to 47.03% p.a., which is steep compared to some alternatives like BDO's personal loans. The application process is relatively quick, with approval typically within 5-7 banking days, but be prepared for stringent income verification.
Many applicants report that they qualify for rates closer to the maximum, which significantly impacts total repayment costs. some users highlight slow response times when seeking clarification on terms. It's also worth noting the absence of early repayment penalties, which can be a plus for those who wish to pay off their loans sooner.
This could save money on interest for proactive borrowers. Overall, while EastWest's personal loan provides flexibility and substantial amounts, the high interest rates make it less favorable for those seeking lower-cost borrowing options. Always compare with other lenders to ensure the best deal.
What Borrowers Say
Borrowers often appreciate the loan amount flexibility but express concerns over high interest rates and customer service responsiveness.
