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Guide on How to Invest Time Deposit in the Philippines

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Guide on How to Invest Time Deposit in the Philippines

It is a smart idea to invest your money in a time deposit. But before making your decision you should understand that you’re not allowed to withdraw the money prior to the agreed period. The good thing is that your time deposit has a higher interest rate than the regular savings account. Thus, through time deposit you will learn to be thrifty and not to spend with unnecessary expenditure.

https://filipinoguideph.com/wp-content/uploads/2019/03/Guide-on-How-to-Invest-Time-Deposit-in-the-Philippines-1.jpg
photo credit: iMillennial

A time deposit is the best option for OFWs to invest their hard-earned money. It’s not only a good start to save but it is also a good way to keep your money securely not to mention the higher interest earnings.

How to invest time deposit in the Philippines

A time deposit is a form of saving investment that is risk-free. A specific amount of money is deposited for a period in a chosen bank. Many banks in the Philippines are offering time deposit with a high-yield rate and competitive term for up to six years. Generally, time deposit tenure may last for up to 12 months but may also depend on the depositor.

The advantage of opening a time deposit is that the requirements are easy to comply, and the depositor can choose for the term. Likewise, the depositor is also allowed to withdraw the money and close the account in case of urgency. But a termination fee should be expected.

Read: Tips to Determine if the Philippine Banknote is Genuine

Good return on investment from time deposit

Saving your money in a time deposit is like investing in a business venture. You’re not engaging directly in a business, but you can earn a high return. Despite the advantages of investing in a time deposit, it also has its own share of risk yet minimal. The risk is that you cannot withdraw it unless for emergency case otherwise you will be charged for a pre-termination fee.

The interest rate may be higher, but you should also expect for some charges and fees deducted from the earned interest. Stamp duty is also charged if the deposit is more than Php250,000.00. The depositor will pay Php1 for every Php200.00 excess.

Read: Grow your Money Now: Invest in Retail Treasury Bonds

Add more deposits in your time deposit account

The good thing about time deposit is that you can continue to increase your deposit. All you must do is to notify and request from your bank about your intention to make additional deposits before the maturity of your time deposit. If you will deposit your money for a longer time you can expect to earn more.

Read: What You Need to Know in Opening BDO Kabayan Savings Account

Tabular representation of a 5-year time deposit

Banks Terms (months) Interest Rate (%)
Security Bank Peso TD 1 0.75
3 0.88
6 1
12 1.20
24 1.20
60 1.20
Chinabank Diamond Savings 1
3 0.63
6 0.75
12 0.88
24 0.88
60
Maybank Classic TD 1
3 0.60
6 0.60
12 0.75
24 0.75
60
UCPB Peso TD 1
3
6 0.50
12 0.50
24
60
Union Bank Peso TD 1
3 0.38
6 0.48
12 0.58
24 0.63
60
BDO Peso TD 1
3 0.38
6 0.38
12 0.63
24 0.63
60
Landbank Regular Peso TD 1
3 0.38
6 0.50
12 0.50
24 0.63
60
Metrobank Peso Regular TD 1
3 0.25
6 0.25
12 0.50
24 0.50
60
BPI Family Savings Regular TD 1
3 0.25
6 0.58
12 0.44
24 0.50
60
BPI Direct Savings Regular TD 1
3 0.25
6 0.38
12 0.44
24 0.50
60
BPI Regular TD 1
3 0.25
6 0.25
12 0.44
24 0.25
60

Investing in time deposit is ideal for anyone who wants to keep the money for a specific period. All you must do is to choose the bank that offers higher interest rate.

Basic requirements for time deposit

  • 1 x 1 ID photo
  • Valid ID’s (government-issued)

You can also inquire from your chosen bank about other additional requirements especially for non-residents or alien applicants.

What You Need to Know in Opening BDO Kabayan Savings Account

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What You Need to Know in Opening BDO Kabayan Savings Account

The BDO Kabayan Savings is a service offered by BDO to overseas workers. This service facilitates easy, convenient, and secured sending of money to OFW families in the Philippines. It is apparent that sending money to the Philippines can be difficult especially if you are in other parts of the world.

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image credir: BDO Unibank, Inc.

With BDO Kabayan Savings you can expect that your family will receive the remittance easier. Opening such a savings account is not only for easy remittance but also the key to build a good credit record with the bank. With this, it would be easier to apply for a home, business, or car loan when you go back to the Philippines.

The BDO Kabayan Savings account carries three product loans including the following:

  • Kabayan Personal loan – This product loan can help to finance a startup business and other important needs.
  • Kabayan Auto Loan – You can borrow money using this product loan if you’re planning to purchase your dream car.
  • Kabayan Home Loan – Start building your dream home through the Kabayan home loan.

The good thing about having Kabayan Savings Account is that you can pay loans and even insurance conveniently through the ADA or auto-debit arrangement.

Basic requirements to open BDO Kabayan Savings Account

  • Opening a BDO Kabayan Savings account will cost you only a hundred peso. You can also open a dollar account for only $100.
  • Bring with you any valid ID that carries your signature and photo such as SSS ID, passport, PRC ID, Philhealth card, school ID, or PSA birth certificate. Likewise, the bank also accepts government-issued IDs like Voter’s ID, OWWA ID, Senior Citizen ID, and many others.
  • 1 x 1 photo
  • Seafarers employed by POEA can directly send the allotment to BDO Kabayan account. All you must do is to deposit $10, present your seaman’s book and a 1×1 photo.

Why Choose BDO Kabayan Account?

While working abroad it is best not only to keep your hard-earned money safely but also to let it grow. Opening BDO Kabayan Savings account offers several advantages including the following:

  • Instant remittance – Using this account for remittance would reduce the waiting time. The family in the Philippines can easily receive the remittance because it is credited in the Kabayan account.
  • Minimal initial deposit – With a minimal amount of initial deposit you can open your own Kabayan account.
  • Withdraw even outside the country – This type of savings account does not require maintaining balance. But it requires sending money at least once a year to keep the account active.
  • Convenient – Funds withdrawal is very convenient as you or your beneficiaries can withdraw money anywhere through ATMs.

Read Also:

Having a BDO Kabayan Savings account offers a lot of advantages but make sure to send money into your account at least once a year to avoid expiration. Once it expires, it will be converted to Kabayan account that requires Php5,000 for maintaining balance.

Guide for Filipinos in Getting Korea Tourist Visa

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Guide for Filipinos in Getting Korea Tourist Visa

Korea is very popular among Filipinos not only because of its trending Korean show, skincare products, and K-Pop but also as a tourist destination. This is the reason why many Filipinos are planning to make a trip to Korea.

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image credit: chill and travel

The good news is that applying for Korea tourist visa is now more accessible. If you’re an avid fan of Korean stars and want to travel in South Korea, here’s how you can get the tourist visa.

Korea Tourist Visa requirements

  • Download the visa form at the official website of Korea embassy at http://embassy_philippines.mofa.go.kr
  • Prepare 1 pc of passport size colored photo
  • Philippine passport with a validity period of more than 6 months
  • Photocopy of your passport’s bio-page
  • Original bank certificate stating the current balance, type of account, date open, and at least 6 months ADB
  • Certified true copy or original copy of bank statement or passbook
  • Photocopy of BIR form 2316 or income tax return
  • Certificate of employment stating the position of the applicant, date hired, compensation, official email address, complete address, official landline, and date issued
  • Photocopy and original copy of visa with the arrival stamps from OECD member countries visited for the previous 5 years

Present documents that are updated and issued not less than 3 months. The documents should be properly organized. There are additional requirements for different categories.

Self-employed adult applicants

  • Photocopy of business permit, business certification from DTI or SEC
  • Photocopy of BIR Form 2316
  • Authenticated passbook/bank statements for the past three months
  • Photocopy and original visa with arrival stamps of completed travel within the previous 5 years

Korea Tourist Visa Unemployed spouses

  • Original copy of the certificate of employment (spouse)
  • Original bank statement, bank certificate, and passbook (spouse)
  • Photocopy of BIR form 2316 (spouse)
  • Photocopy of marriage certificate issued by PSA
  • Photocopy and original visa with arrival stamps of completed travel within the previous 5 years

Students

  • Photocopy of school identification card
  • Original copy of school certificate
  • Photocopy of birth certificate issued by PSA
  • Supporting financial documents of the parents
  • Original copy and photocopy of visa with arrival stamps of travel made within the past 5 years to OECD member countries.

As soon as all the required documents are completed, you can proceed to the Embassy of Korea to file your visa application. If you’re applying for a trip and stay in Korea for less than 2 months, there’s no processing fee. Otherwise, staying in Korea for about 2 to 3 months you will pay Php1,800 for the processing fee. The processing period is 3 business days for applicants holding OECD-member visa, otherwise, 5 days is the standard processing time.

For more inquiries, you can contact the details below:

Address: 122 Upper McKinley Road, McKinley Town Center, Fort Bonifacio, Taguig City 1634

Tel: +632 856-9210 Fax: +632 856-9008

Office Hours: Mon-Fri, 8:30AM-5: 30 PM

Filing: Mon-Fri, 9-11AM Releasing: Mon-Fri, 2-4PM

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Tips to Determine if the Philippine Banknote is Genuine

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Tips to Determine if the Philippine Banknote is Genuine

Every peso regardless of denomination is a product of hard work. That’s why it is essential to ensure that the banknote we receive is genuine. It is apparent that there are banknotes circulating that are fake. That’s why the BSP or the Bangko Sentral ng Pilipinas is reiterating its reminder to everyone to be mindful in checking each banknote.

Philippine-Banknote-is-Genuine-0
image credit: news.mb.com.ph

To ensure the veracity of the Philippine peso bill, the BSP has taken the necessary measure by using the new technology. The new released Philippine banknote has security features and upgraded designs. If you will notice the Philippine banknotes are a little bit rough because the materials used in producing the banknote are Philippine abaca and cotton.

Methods in checking the authenticity of the Philippine banknote

  • Feel method

To determine if the banknote is not fake you should check if the paper is rough. The security paper is rough because it is made from Philippine abaca and cotton material. Likewise, you can also feel the embossed prints.

  • Look method

Some of the features that you should look for in a banknote is the embossed prints, see-through marks, asymmetric serial number, security fiber, and the watermark.  You can see the watermark when you view the bill against the light. The shadow shows the banknote’s denomination and the portrait’s image. The serial numbers are designed asymmetrically composed of six to seven digit and two prefix letters.

  • Tilt method

Tilting the banknote down you will see the concealed value. Likewise, when you tilt the 50-peso and 20-peso banknote you will see the security thread embedded on it. You can also see the metallic security thread 4mm wide in 100, 200, 500, and 1,000 peso banknotes. The BSP initials are located at the thread along with the repeated series of the numeric denomination. At the rear part of the security threads, you will see the initials of BSP.

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The new generation of banknotes has reflective foil in which the image of the Blue-naped parrot and the small BSP logo is printed. If in case you receive a banknote having unusual and doubtful features, you can present it to any BSP office near you.

Grow your Money Now: Invest in Retail Treasury Bonds Until March 8, 2019

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Grow your Money Now: Invest in Retail Treasury Bonds Until March 8, 2019

Are you planning to invest your money even with a small amount? Yes, it is possible through the Retail Treasury Bonds offered by the Philippine Bureau of Treasury. The good thing about investing in RTB is that it is guaranteed secured because you’ll be dealing with the government. Thus, your investment is both personal and social. You won’t only earn interest income but also contribute funding for the government’s projects.

Grow-your-Money-Now-Invest-in-Retail-Treasury-Bonds-Until-March-8,-2019-0

In an announcement by the Bureau of Treasury, the 22nd tranche of the RTB has a 6.25% interest rate per year.

Is it safe and secure to invest in RTBs?

The Retail Treasury Bonds are higher-yielding, low-risk, and affordable investment option. It is default or risk-free because the investor will invest in the government. The interest rates are lower as compared to other investments. Anyone can afford to invest in RTBs for as low as Php5,000 and increase thereafter in multiples of Php5,000.

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Individual investors or corporations can purchase and invest in RTBs. The 22nd tranche of RTBs will be available starting February 26 to March 8, 2019.

Here’s how you can apply for RTBs:

  • Go to the nearest bank and inquire if they offer RTBs. Make sure you have a Philippine Peso Account to qualify.
  • Fill out the forms and submit the necessary requirements.
  • The principal cost is deducted directly from your account. The interest rates are also credited into your bank account every quarter until the maturity of the investment.

How you can make money from retail treasury bonds?

Individual investors can acquire RTBs from trust companies, banks, and other institutions having RTB allocations. Once you receive the RTB allocation, you can expect to receive quarterly income from your investment in retail treasury bonds. However, the total amount of interest that you will receive is reduced due to the withholding tax.

Interest Rates Retail Treasury Bonds

4.875% Rate after 3 years

Amount of Investment Interest after 3 years
₱5,0000 ₱585.00
₱10,000 ₱1,170.00
₱15,000 ₱1,775.00
₱20,000 ₱2,340.00
₱25,000 ₱2,925.00
₱30,0000 ₱3,510.00
₱35,000 ₱4,095.00
₱40,000 ₱4,680.00
₱45,000 ₱5,265.00
₱50,000 ₱5,850.00
₱100,000 ₱11,700.00
₱200,000 ₱23,400.00
₱300,000 ₱35,100.00
₱400,000 ₱46,800.00
₱500,000 ₱58,500.00
₱1,000,000 ₱117,000.00

source:treasury.gov.ph

Guide for Professionals and Self-employed in Filling out the BIR Form 1701A

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Guide for Professionals and Self-employed in Filling out the BIR Form 1701A

As a citizen of the country, every Filipino both professionals and self-employed are required to file an annual income tax return. It’s because the earned income regardless of the source has a corresponding income tax rate. Thus, the optional standard deduction is determined and the 8% flat income tax rate as well.

Guide-for-Professionals-and-Self-employed-in-Filling-out-the-BIR-Form-1701A-0
credit: rappler

The BIR Form 1701A is used by taxpayers in filing the annual income tax returns. The new TRAIN law is applied in this form that follows the new tax rates for 2019.

Who are qualified to file the BIR Form 1701A?

Individuals whose source of income is generated mainly from business or trade, or practice of the profession. A resident citizen, non-resident citizen, a resident alien, or non-resident alien. However, the said individuals can use the form only in the following circumstances:

  • If the income tax payer avails the optional standard deduction and if the income falls into the graduated income tax rates. It is applicable regardless of the amount or receipts or sales as well as other non-operating income.
  • If the receipts or sales do not exceed P3M and the taxpayer takes advantage of the 8% flat rate of income tax.

Guide in filling out the form (for professionals and self-employed)

  • On the first page, select the appropriate ATC or alphanumeric tax code and the taxpayer type either professional or single proprietor.
  • The second page is the computation of the income tax according to the chosen tax rate either 8% or OSD.
  • Provide the details of previous tax payment or tax credit.
  • Validate all the entries in the form before affixing your signature and paying your taxes.

Read: How to Clear Your Name When You get “Hit” in Your NBI Clearance

Single proprietors or businessmen are under the category of self-employed individuals. Likewise, individuals generating income from any business non-VAT or VAT registered is also considered as self-employed.

Read: PSA Announces the Schedule of the National ID Registration

Lawyers, doctors, architects, CPA’s and any person whose source of income is primarily from the practice of the profession. Professionals usually opt for 8% flat rate instead of the graduated rates provided that the gross receipts or sales do not exceed Php3M.

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NBI Clearance – How to Clear the “Hit” in your name

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NBI Clearance – How to Clear the “Hit” in your name

NBI clearance is another government-issued document that is commonly required when seeking employment. This document can be used as a proof of identity and supporting paper for any modification in legal documents.

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NBI Clearance Online

At any point in your life, you’ll need to secure NBI clearance to prove that you are clear from any administrative or criminal cases. There are instances that an applicant is unable to get the clearance immediately due to a “hit” in the name. Further verification is conducted before the clearance is issued.

If the name of the applicant gets a “hit”, it would mean that another individual having the same name as you have a record of a criminal case. There are several reasons for getting a “hit” including the following:

  1. The applicant has a pending administrative or criminal case filed in the court, the Sandigan Bayan, the Ombudsman, or any quasi-judicial body.
  2. If the person has an administrative or criminal case filed previously and was not yet been closed.
  3. If another individual using the same name as you are having on-going or pending case.
  4. If a government agency requested NBI to hold the clearance.

If your name gets a “hit”, you should not panic. Your clearance will be held for further verification and you will be asked to return after 10 working days for the issuance of the clearance. However, during the verification process, the NBI may request your presence for NBI Clearance Quality Control Interview in the main office.

Read: Requirements and Things to Do to Become an NBI Agent

Questions will be asked personally to verify your identity that may include your whereabouts, any transactions or business engagements, and other relevant information. If you are requested to undergo such an interview, remember the things listed below:

  • Don’t panic so that you can answer correctly.
  • During the interview, you should dress properly and arrive on time.
  • Don’t forget to bring at least two valid government-issued IDs accepted by the NBI.
  • Bring the receipt for the NBI clearance.

After completing the interview, an Affidavit of Denial will be issued, and you will take an oath before the resident lawyer of NBI. Once the Affidavit of Denial is notarized, only then that the NBI clearance will be printed and released.

PSA Announces the Schedule of the National ID Registration

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PSA Announces the Schedule of the National ID Registration

In a post published by the Philippine Statistics Authority in its official website in February 20, 2019, the agency had informed the public about the start of the National ID Registration. The PhilSys Registry Office (PRO) is an entity of PSA that is responsible for finalizing all the bidding documents for the procurement of the PhilSys requirements. The procurement process will follow the Implementing Rules and Regulations pursuant to RA No. 9184.

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Entrepreneur Philippines

The main purpose of the implementation of the National ID is to integrate all the government-issued IDs like SSS, TIN, PhilHealth, Pag-Ibig, GSIS, Voter’s, and postal ID. The integration of all the existing IDs will only take place as soon as the registration starts and completed. The new National ID will have more security features to prevent identity theft.

Read: How to Withdraw your Pag-IBIG Funds Contributions

The PhilSys will be responsible for the entire registration process under the supervision of the Philippine Statistics Authority. During the registration, relevant information will be collected including demographic data and biometric information. With this, the applicant is required to bring the primary documents such as birth certificate issued by the PSA, UMID card, Philippine ePassport, and other identification documents required by the agency.

All Filipino citizens can apply for the National ID and even resident aliens if they can present their Alien certificate of registration. However, the senior citizens, persons with disabilities, poor, and indigenous people will be prioritized in the registration process. The registration is free of charge and even the issuance of the National ID.

Read: Gabay Kung Paano Mag Enroll Sa Free TESDA Courses Online Program

According to the Philippine Statistics Authority, most probably the first phase will start in the latter part of 2019. Thus, the agency is reiterating that anyone who is claiming as an authorized representative of PSA and collecting fees is not legal. You can report to PSA any case of unauthorized transactions and collections of payments.

DOLE to Conduct Job Fair – 20,000 Job Opportunities both Local and Overseas

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DOLE to Conduct Job Fair – 20,000 Job Opportunities both Local and Overseas

In commemoration of the 33rd EDSA anniversary on February 25, the Department of Labor and Employment will conduct a job fair to all job seekers. There are almost 20,000 job opportunities both local and overseas. The job fair will be conducted at the Starmall EDSA-Shaw, 2nd floor activity center.

TNK Job and Business Fair

To take advantage of the job and business fair, Secretary Silvestre Bello III is encouraging job hunters to take part with the event. About 50 recruitment agencies and employers will participate in the job fair. This means that there’s a great chance to find a job.

Among the positions available for local job opportunities include production worker, production machine operator, steel man, product promoter, customer service representative, merchandiser, electrician, finishing mason, service crew, plumbers, and merchandiser.

Fifteen recruitment agencies will also participate and will offer almost 12,000 job orders to qualified applicants. Vacant positions include a general nurse, laborer, IT engineer, pipefitter, welder, carpenter, laborer, mechanical and electrical technician, steel fixer, foreman, and waitress.

For the overseas job opportunities, job seekers can find jobs offered by different countries such as United States, Canada, Australia, Germany, New Zealand, Japan, Brunei Darussalam, Malaysia, Madagascar, Turks and Calcos Island, Solomon Islands, Mauritius, Malta, Africa, and South Korea.

The Department of Labor and Employment believes that through the job fair many Filipinos will find and land a job either local or abroad. The good thing about this job fair is that job seekers can ensure that the recruitment agencies and employers are legitimate and registered with DOLE. Thus, there’s a peace of mind that they won’t fall into a scam.

As there are lots of job opportunities, job hunters should bring extra copies of the documents including curriculum vitae or resume, certificate of employment, authenticated birth certificate, transcript of records and diploma, and 2 x 2 ID pictures.

Job seekers must prepare all the required documents and get ready for the DOLE job fair.

Finally 105-Day Maternity Leave is Now a Law

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Finally 105-Day Maternity Leave is Now a Law

After a year, the proposed Expanded Maternity Leave (EML) has finally approved. Executive Secretary Salvador Medialdea confirmed the signing of maternity leave bill by President Duterte happened just recently. The 105-day Expanded Maternity Leave Law or Republic Act No. 11210 aims to promote and protect the welfare and rights of working women.

What does Expanded Maternity Leave (EML) cover?

This new law offers 105 days of paid maternity leave to working mothers and an added 15 days to solo mothers. They will also have the option to extend for an added 30 days of unpaid leave. A provision is included as well, which enables the allocation of 7 maternity leave days to fathers. It raises the paternity leave to 14 days from the present 7 days.

It states that maternity benefits will cover all married and unmarried women including those who work in the informal economy. The Extended Maternity Leave also applies to all instances of miscarriage, pregnancy, or emergency pregnancy termination heedless of frequency.

No to Discrimination

Now the maternity leaves are extensive, Presidential Spokesperson Salvador Panelo hand out a warning to companies against companies. In one of his media briefing, he said that companies which would decline to hire women after the enactment of the new law will be held responsible.

They will be spanked a substantial fine of not more than Php20,000 or more than Php200,000 and imprisonment of not more than 6 years and 1 day or more than 12 years or both.

Each company is required to follow the law regardless of their rules and regulations. Panelo also added that granting of long leaves should be considered as a social service.

Labor group and politicians welcomed the EML law and even shared their own positive feedbacks and opinions about it. Vice President Leni Robredo said the measure is a massive help for working mothers who lack financial investment to employ babysitters.

Employers actually benefit from maternity leave

Companies who provide paid maternity leave have reported positive benefits on their business. These include a reduced expensive employee turnover and loss of human capital and firm-specific skills.

In addition, maternity leave helps increase the morale of working women. They tend to return to their respective jobs with fewer disruptions and improved morale. When given enough time to recover, arrange childcare, and breastfeed, they are more focused on their work and less likely to take a leave of absence for a family emergency, like caring for a sick child.

Know your rights, moms!

Extended Maternity Leave is guaranteed and paid. It applies to all local and state government employees, private employees, and some federal employees. Employers are required to continue the health insurance coverage of their female employees during their EML leave.

Read: New SSS Law to Take Care of Unemployment Benefit

When possible, employees who are planning to use the benefit should tell their employers or company managers at least 30 days before the leave would start.

Such good news for mothers and a great way to start the year! Aside from helping mothers to save their fund from hiring a babysitter, they also have more time to establish breastfeeding, care for their newborn baby, and focus on their postpartum recovery and care.

Citizens Expect Affordable Cancer Treatments and Medications as President Duterte Signs National Integrated Cancer Control Act

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Citizens Expect Affordable Cancer Treatments and Medications as President Duterte Signs National Integrated Cancer Control Act

Manila, Philippines – More and more citizens will benefit from all the laws that President Rodrigo Duterte signed recently. One of these is the National Integrated Cancer Law which is set to help Filipino patients and their families address cancer with ease. Congressman Chiqui Roa-Puno of Antipolo stated how cancer patients and their loved ones endure the illness without any assistance from the government. Republic Act 11215 (Cancer Control Act) allows the government to helps its citizens to face this dreaded disease.

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image credit: most popular list

The law is supposed to help patients and their loved ones with finances to combat cancer. Included in this law is the construction of the Philippine Cancer Center which will be supervised by the University of the Philippines-Philippine General Hospital. Establishment of Regional Care Centers can be expected.

She also mentioned that this law is set to revolve around ‘policies and programs for the prevention, detection, correct diagnosis and treatment of cancer’. ‘Palliative care, pain management, and survivorship’ and/or death are also covered by this law. Cancer accounts for the third top cause of death in Filipinos since 2004 and from 2012, there are 189 people among 100,000 who develop the disease. This is according to the Philippine Statistics Authority.

To add, there are 11 cases of Cancer every day in the country and according to Puno, there are eight children and seven adults who succumb to cancer each hour.

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There has been a request for proper funding and ‘immediate implementation’ to the Department of Health (DOH), and the Budget Department. The request came from the co-author of the law, Rep. Bernadette Herrera-DY of Bagong Henerasyon party-list group.

The implementation of this law is set to help many Filipino households nationwide. With proper funding and implementation, everyone can expect that combating cancer will now be easier. People in marginalized communities can also breathe easier because they now have the chance to get their illness treated.

Application for CHED Scholarship this SY 2019-2020 Is Now Open

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Application for CHED Scholarship this SY 2019-2020 Is Now Open

February 21, 2019 – Incoming freshmen and college level students can now send their applications for the Commission on Higher Education (CHED) Scholarship for the School Year 2019-2020 through the Student Financial Assistance Programs (StuFAPs)

StuFAPs, as the name suggests, offers financial assistance to college students from authorized private and public Higher Education Institutions (HEIs). The program helps students with potential but do not have enough means to afford education.

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Students who successfully met the requirements for CHED scholarships must be currently enrolled or shall enroll in any of the priority courses stated in CMO No.1 s.2014. Qualified beneficiaries will receive Php. 6,000.00 to Php. 15,000.00 per semester regardless of the program they take.

CHED Scholarships Qualifications

In order to qualify for CHED scholarship programs, an incoming freshman or college level student shall be

  1. A Filipino Citizen
  2. a candidate for Senior High School Graduation and/or a graduate; Senior High School Students who passed ALS/PEPT; existing college students who already earned units
  3. Incoming freshmen or college students whose parents/guardians’ have PHP 300,000.00 or less combined yearly gross income. In case the income exceeds the said amount, the CHEDRO StuFAPs Committee will determine the application’s merit points.

CHED Scholarships Requirements

For incoming freshmen, the requirements are as follows:

  • Senior High School Graduates should present an original certificate of GWA or General Weighted Average from the school’s principal and a copy of their grades in Grade 12.
  • Students who are a candidate for Senior High School Graduation shall have a GWA of not lower than 75%. They shall submit an original certificate of the GWA from the school’s principal and a photocopy of their grades in the first semester in Grade 12 as well as in the first and second semester in Grade 11
  • Passers of Accreditation and Equivalency Tests shall submit a photocopy of the ALS test certificate or a certificate of rating for the secondary level from DepEd
  • Passers of Philippine Educational Placement Test (PEPT) shall submit a photocopy of the certificate of rating for the secondary level and a diploma from DepEd

For college students, the requirements are as follows:

  • Certificate of GWA in percentage from the institution’s registrar and a photocopy of grades in the subjects they have taken in the semesters they have completed.

Additional CHED Scholarship Requirements

Applicants for CHED Scholarship should also present a proof of income and a certificate of good moral character.

Proof of Income

For students whose parents work overseas or are seafarers, additional requirements are:

  • Photocopy of either the latest copy of their work contract or proof of income

For students whose parents are staying or working in the Philippines, additional requirements are

  • A photocopy of either the latest ITR or Income Tax Reports of parents or guardians, tax exemption certificate from the Bureau of Internal Revenue, a case study from DSWD, an affidavit that proves the parents have no income, or a certificate of indigency which can be acquired from the Barangay

Read: How to Apply for PhilFrance Scholarship Masteral and Doctorate Degree

Certificate of Good Moral Character

This should be acquired from the Principal or Guidance Counselor of the last school attended.

CHED Scholarship 2019 Application Process

  1. Make sure you meet all requirements.
  2. Your desired course should fit in the priority courses of CHED.
  3. Accomplish the Application Form 01 from StuFAPs
  4. Submit all the needed documents as well as the accomplished StuFAPs application form directly to the Regional Office of Ched. For those who are planning to enroll in State Universities and Colleges, the application shall be submitted directly to the concerned school.

Read: Megaworld Foundation Scholarship Application Process and Requirements

Aspiring scholars can submit their application from February to April 30, 2019. Ensure that you submit all the pertinent documentary requirements so you can be included in the selection of the scholarship beneficiaries.

Students who have queries related to CHED scholarships can send an inquiry to their e-mail [email protected] or contact them via (02) 988-0001

New SSS Law to Take Care of Unemployment Benefit

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New SSS Law to Take Care of Unemployment Benefit

Manila, Philippines – There’s a new SSS law that will benefit unemployed individuals. Republic Act 11199 or the Social Security Act of 2019 which aims to provide assistance to individuals who lose their job was signed by President Rodrigo Duterte last week. This was declared by Senator Richard J. Gordon last Tuesday, February 19. The author of the law is Senator Gordon. This law will give insurance and/or involuntary separation benefits to an SSS member who is currently unemployed.

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This will help them get some money while they’re still looking for a new job. The pension will be given for two months at Php10,000 each month if the contributor pays the maximum salary credit contribution. An SSS member will be allowed to get this benefit if he is involuntarily unemployed. He can get the equivalent of 50% of his ‘average monthly salary credit’ for two months.

This law requires that the member is not over 60 years old and has already paid at least 3 years (36 months) of contributions. The twelve months of the contribution must be ‘within the 18-month period’ before the incident of involuntary unemployment. This law allows members to claim this benefit once in three years.

READ: 105-Day Maternity Leave is Now a Law

Senator Gordon said that this law allows the claimant to get some money while he is looking for a job though it won’t be that long because he’ll only have two months pension. The pension can somehow cover expenses but the claimant must not rest until he finds a job. Kudos to Senator Gordon for coming up with a sensible law for recently unemployed SSS members.

This law, though the pension is not that big can help everyJuan who are still looking for jobs when they are involuntarily terminated. This can help them pay bills for the meanwhile. What do you think of this new law? Are you up for it or against it?

President Rodrigo Duterte Sign Universal Health Care Law

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President Rodrigo Duterte Sign Universal Health Care Law

Manila, Philippines – President Rodrigo Duterte signed the Universal Health Care Law. He led the ceremonial signing which included other bills that are now new laws in the country. The Universal Health Care Law is set to widen the reach of coverage of Philhealth. This law will serve Filipinos here and abroad.

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image credit: philreports

Included in the law are free consultation and diagnostic services, and medical examinations. Philhealth’s other funds will come from the Philippine Charity Sweepstakes Office (PCSO) charity fund, the income from the Philippine Gaming Corporation, contributions from members, national budget from the Department of Health (DOH), other government subsidies, and collections from sin taxes.

There’s is a risk of the funds getting low, though, due to the pending of bill on sin taxes for cigarettes in the House of Congress.

Presidential Spokesperson Salvador Panelo said that there’s a need to budget the funds for now because of this reason but he also insists that there are still ways to ‘augment resources’.

PhilHealth Benefits Many People Don’t Know They are Qualified

Senate Committee on Health Chairperson, JV Ejercito said that the Filipino people won’t feel threatened anymore when they or their loved ones are sick. He said that the government is an ally of the community to promote better health for the Filipino people. He also pointed out that this health care law enhances the capability of the government to provide cheap but effective health care.

This bill which Ejercito wrote is co-sponsored Senator Risa Hontiveros who used to be the Senate Committee on Health Chairperson. Hontiveros hopes that through this law, Filipinos have better chances to get better health services. She also said that she hopes the law can help everyone have choices for their health and that no parent will be tormented because he can’t bring his kid to the hospital because they don’t have money.

Simple Guide in Sending and Packing Packages for Your Family

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Simple Guide in Sending and Packing Packages for Your Family

Are you a first-time Overseas Filipino Worker (OFW)? This may be your first time to pack you things or you’re already abroad and you need to send packages. Here are some tips that can help your pack things better.

These tips can help you if you don’t have any experience in packing. It can also help you secure the valuables you’re packing. Happy packing!

Things You Should Do in Sending and Packing Packages

  • Make a list of all the things you’re packing for your family and send one copy to them so they know what they’re going to receive
  • Pack fragile things in a more secure way
  • Make sure you use the correct box for packing
  • Put correct labels on every balikbayan box you’re sending
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image credit: thespruce

Making A List

Especially when you’re packing a lot, making a list ensures that everything will be inside the box you’re packing. A checklist is also a way to track the items you’re sending. This makes sure that nothing will get lost or in the instance it does, you can file a complain because you have evidence. Make sure you take photos too.

Packing Fragile Things

You must use bubble wrap or packing material that is safe especially when what you’re packing might spill. You can also pack breakable items inside the t-shirts you’ll send your loved ones. Doing this can help you protect breakable items.

Using the Right Kind of Box

Remember to choose the right-sized box because a bigger box means you’ll pay bigger fees. Practice your analytical skills so you can more or less estimate which kind of box to choose. Another thing worth mentioning is that it’s better to not put bulky items like appliances in balikbayan boxes because of the space they take up.

These are the four most common balikbayan boxes you can choose from.

  • 1 cu./ft./ 12X12X12 inches mini box
  • 3 cu./ft/ 18X18X16 inches medium box
  • 4.5 cu./ft/ 18X18X24 inches large box
  • 6 cu./ft/ 24X18X24 inches jumbo or extra large box

Putting Labels Can Help You

Make sure that before you send your package, you already put labels like the names of recipients, address and whichever it is the courier asks you to. This ensures that the recipient/s will get the package you sent. Putting the correct labels will make looking for it easier in case it gets lost.

Transact with a Reputable Courier

There are a lot of couriers notorious for stolen or lost packages. Don’t be a victim of their antics and choose a courier who’s known to give the best service to their loyal customers. You want the package you sent to reach its destination so choose wisely.

Final Thoughts

Filipinos put their heart and sweat to send things back home which make their families happy. If you’re an OFW, everybody knows that you work hard for your family and you want to send them something special during the holidays or on special occasions. Do it, but, with caution. Pack smartly and choose the right courier for you. After all, what you’re sending is the result of blood, sweat, and tears.

Uploading the Photos of Your Employer Might Get You In Trouble!

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Uploading the Photos of Your Employer Might Get You In Trouble!

The United Arab Emirates prohibits its employees to upload photos of them and their family members. Arabs are very strict when it comes to their privacy. A 29-year old maid learned about it the hard way when she got a six months sentence after she uploaded their photos. She also got deported because she uploaded the whole family’s photos on Facebook. Reports said that the maid posted the photos of her employer’s family without their permission. There’s also speculation that she stole the clothes of the wife but she denied this. She said she only borrowed it when the wife was away for a trip overseas.

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image credit: bustle

The law in the UAE didn’t say that uploading photos on Social Media aren’t allowed. What is not allowed though is posting photos of other people without their consent. The fine for this violation can range from Dh150,000 or Php2,170,918.00 to Dh500,000 or Php7,236,394.00. The violator will also go to jail for at least 6 months. The fine and the time depends on how severe the case is. UAE won’t consider if it’s an innocent photo taking. It is a violation to them when it is a photo of another person. It’s a breach of privacy. This law applies to public areas as well, like parks and malls.

Taking photos of other people is downright disrespectful. It’s a good thing that the UAE is implementing rules like this so that people know their boundaries. Let’s all hope that the woman learned her lesson and she won’t do it again especially in a foreign country where worse things can happen. How about you? Do you think that the law of UAE about taking photos of other people is too much or not?

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