Auto Loan Free 1-Year Insurance promo

Free 1-Year Insurance

  • Own Damage, Theft, Acts of Nature (AON) and Riot, Strike and Civil Commotion (RSCC)
  • Free 24-Hour Roadside Assistance
  • Fixed Deductible

Instant Savings

  • Cash subsidy can be applied to Chattel Mortgage Fee, LTO Registration or Interest Rate

Incredibly Low Rates

  • Guaranteed among the lowest in the market


MECHANICS

  1. The promo is open to all store-referred EastWest Bank Auto Loan clients who apply and are subsequently approved from May 16 to June 30, 2016. Loan must be booked not later than September 30, 2016.

  2. To qualify, the availed auto loan should meet the following criteria:

    • Vehicle must be brand new and for private use only
    • Loan term of 36 to 60 months
    • Loan amount of P500,000 to P3,000,000
    • Loan application must be coursed through any EastWest Bank store nationwide

  3. Qualified clients shall be entitled to Free First Year Comprehensive Motor Car Insurance with the following coverage:

    • Own Damage, Theft, Acts of Nature (AON) and Riot, Strike and Civil Commotion (RSCC)
    • Fixed deductible of Php2,000 for own damage, theft, AON and RSCC for private cars
    • Free 24-hour Roadside Assistance within 6 years
    • Excess Bodily Injury of P300,000
    • Property Damage of P300,000
    • Auto Personal Accident of P50,000 per passenger including the authorized driver for a maximum of 10 seats

  4. Upon availment of the program, the mortgaged vehicle's insurance shall be locked in with East West Insurance Brokerage, Inc. (EWIB) for the duration of the loan term. Upon renewal, client's submission of own motor car insurance policy will not be accepted.

  5. To avail of the Free First Year Insurance, the client will sign an Authority to Renew Insurance Policy agreement and submit post-dated checks or an automatic debit form for the payment of the insurance premiums for the succeeding years of renewal coverage.

  6. Clients shall get a maximum cash subsidy of Php19,000. This can be used to pay (or as a discount) for the Chattel Mortgage Fee or LTO Registration, or to further lower the Interest Rate.

  7. Promo Rates:

    Interest Rate
    Term In Arrears In Advance
    36 18.10% 17.30%
    48 23.50% 22.60%
    60 29.20% 28.30%

  8. All East West Banking Corporation employees and their spouses are not entitled to avail the program.

  9. If any of the terms and conditions above are not met, the Client shall not be qualified for the program.

  10. All loan applications shall undergo the standard EastWest Bank Auto Loan approval process.

  11. All offers are non-transferable, not convertible to cash and cannot be combined with other programs.



Per DTI FTEB SPD Permit No. 7067 Series of 2016.

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