Have you applied for a loan before? If yes, you will notice that lenders require you to submit several documents to determine your capacity to pay. Nonetheless, one of the important requirements you need to have, regardless of the type of loan you are applying for, is identification card or ID. This will tell lenders that a certain person truly exists because identification was issued.
Believe it or not, not everyone can provide this simple but crucial requirement. If you are planning to apply for a loan, here’s what you need to have with you:
Primary ID
All lenders require any of the following IDs when applying for a loan. Primary ID, which means issued by the government, include:
- Driver’s License – This type of ID is issued by the Land Transportation Office (LTO) and with five-year validity period. There are three kinds: student, non-professional, and professional, which are all acceptable.
- Philippine Passport – This ID is issued by the Department of Foreign Affairs. As of this writing, the validity of the passport is for 10 years.
- UMID Card – UMID, or Unified Multi-purpose ID is a card issued by SSS, which also serves as your Philhealth, PAG-IBIG, and GSIS ID. It is one of the most powerful IDs you can have because it covers several government agencies.
- Philhealth ID – In case you don’t have UMID card, Philhealth ID can also be sufficient. You can apply at any Philhealth Local Insurance Office.
- TIN Card – This is a type of identification issued to taxpayers like you. Simply go and submit the required documents in the nearest BIR Office. Don’t worry. Application for TIN Card is free.
- PRC ID – This ID is issued to licensed professionals such as nurse, architects, accountants, engineers, dentists, and doctors among others (except lawyer since they have their own IBP card). It is issued by the Professional Regulation Commission (PRC).
- Voter’s ID – If you are a registered voter, then you can apply for this type of identification. It is also recognized by majority of government and private entities since it is issued by the Commission on Elections.
- Postal ID – Compared to the other primary IDs, postal ID is among the easiest to secure. It is issued by PHLPost and used to validate your identity and address, especially when dealing with the government.
- OFW ID – This ID is issued by DOLE for all overseas Filipino workers. This one is for free and can be used to avail of free travel tax and terminal fees.
- Senior Citizen ID – If you are above 60 years old, you can now apply for Senior Citizen’s ID, which entitles you to 20 percent discount to almost anything.
Secondary ID
It’s okay if you don’t have primary ID. Lenders are still willing to accept applicants as long as you can submit at least two of the following (or just one, if you only have one primary ID):
- Barangay clearance
- Police clearance
- NBI clearance
- Birth certificate, which must be NSO-certified
- Marriage certificate, also NSO-certified
- GSIS ID (for government employees)
- OWWA ID
- Integrated Bar of the Philippines (IBP) ID
- Diplomat ID issued by the Philippine Embassy
- ID issued by branch or agency of the government
- Company ID
