ILLUSTRATION BY STEPH BRAVO
(First of two parts)
Availing of a home loan should be fairly simple.
That’s assuming, however, that you have all the necessary documents that banks usually require, and most importantly, you have the capacity to repay your loan. It only becomes complicated when, at the onset, there is already that confusion as to which documents can be considered as valid.
One of the simplest and most basic requirements among banks is a government-issued identification card. But even here, there are already discrepancies and differences among financial institutions as to which they consider as valid. A government ID may be acceptable in one bank but may not be considered as valid in another.
Among the more commonly accepted IDs include passport, SSS ID, driver’s license, Professional Regulation Commission (PRC) ID, Overseas Workers Welfare Administration (OWWA) ID, Overseas Filipino Worker (OFW) ID, and a Seaman’s book. But what if you don’t have these IDs? Are there alternatives?
Some institutions like local banking giant Metrobank make this basic requirement a tad easier for its clients as it tagged a number of government IDs and documents as valid. Here is a list of IDs considered by Metrobank as valid and where you can secure them.
Passport
A passport is both a travel document and a primary national identity document. In the Philippines, it is issued by the Department of Foreign Affairs (DFA) and is valid for 10 years.
To get a passport however means that you already have the usual IDs, but in case you want one, the DFA has set up an online appointment system that you can access via www.passport.gov.ph. You’ll find a list of requirements there, along with other information you might need as well.
Driver’s License
It’s an official document authorizing an individual (who must be at least 18 years old) to drive a motorized vehicle in the Philippines. The Land Transportation Office (LTO) issues three types of driver’s licenses: student permit, non-professional, and professional.
You have to be physically present at any of the LTO branches and satellite offices to submit your application, take an exam, pay the fees and have your photo taken.
Professional Regulation Commission (PRC) ID
The PRC is an attached agency of the Department of Labor and Employment (DOLE) that is mandated to regulate and supervise the practice of the professionals except for lawyers. It issues IDs for passers of licensure exams in more than 40 professions that include architecture, interior design, nursing, engineering, among others.
National Bureau of Investigation (NBI) clearance
An agency under the Department of Justice, the NBI issues a clearance that can be used for gun license, foreign travels, visa application and most commonly job application. As long as you don’t have any altercations with the law, you can readily avail of a multipurpose clearance via the website, www.nbiclearance.org, for a small fee.
Police clearance
Similar to an NBI clearance, a police clearance is meant to identify whether or not an individual has a criminal record. The difference is that a police clearance covers only a specific location, be it within the city or municipality where you live or work. Hence, this document can be secured from the locale’s city hall.
Postal ID
Issued by the Philippine Postal Corp., a postal ID is said to be the easiest and fastest to obtain and is considered “socially inclusive” as it can be secured without any requirement such as driving skills or passing a licensure exam. It’s also considered a primary form of identification among Filipinos. Just fill up the application form and go to the nearest post office.
Voter’s ID
For those who registered to vote before 2012, most likely you would already have this ID issued by the Commission on Elections. The Comelec, however, reportedly stopped issuing these IDs in 2012, following proposals then to set up a national ID system.
Tax Identification Number (TIN) card
TIN is a system-generated reference index number issued and assigned by the Bureau of Internal Revenue (BIR) to every person registered in its database. This is required for employees or those who own a business no matter the scale. Getting the card itself will require you to apply at the BIR office within the area where you work or where your business is located.
Barangay certification
Also known as Certificate of Residency, this document is meant to certify that you reside in a particular barangay. You will only need to go to your barangay hall to apply for one.
Government Service Insurance System (GSIS) e-card
The GSIS is a government-owned and -controlled corporation, whose members are entitled to an array of social security benefits, such as life insurance benefits, separation or retirement benefits, and disability benefits. It covers all government workers.
Apart from serving as a valid government ID, the GSIS e-card has other uses: as a transactional card, disbursement card, ATM card, VISA debit card, hospitalization discount card, medicine discount card, and tuition discount card, among others.
Social Security System card
This state-run pension fund is mandated by law to “promote social justice and provide meaningful protection to members and their beneficiaries against the hazards of disability, sickness, maternity, old age, death and other contingencies resulting in loss of income or financial burden.” Members, whether company- or self-employed, will be issued an SSS card shortly after completing their application. They are also required to make monthly contributions to the SSS. Benefits include social insurance, pension upon retirement at the age of 60, and healthcare.
(To be continued)
Sources: www.metrobank.com.ph www.passport.gov.ph, www.officialgazette.gov.phwww.phlpost.gov.ph, www.bir.gov.ph, gsis.gov.ph, sss.gov.ph, nbiclearance.org