1. What is Pawnbroking a.k.a. Pajak Gadai?
2. What item can be pawn?
3. Who can pawn?
4. How do I pawn my item?
5. What are the charges and fees?
6. What is the duration of the loan?
7. When can I redeem my item?
8. How do I redeem my item and how much do I have to pay?
9. What will happen to my item once pawned?
10. Is my pawned item insured?
1. What is Pawnbroking a.k.a. Pajak Gadai?
We offer cash loans in exchange for an item of value for a term of 6 months with
an
interest of 2% a month.
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2. What item can be pawn?
We offers loan for:
- Gold Jewellery with purity of 24K (999) to 9K (375).
- Jewellery with gemstones
- Gemstones
- Luxury item such as watches and pen.
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3. Who can pawn?
An eligible pawner:
- 18 years old and above.
- Any citizenship.
- A valid identity document such as MyKad, Passport, Working Permit, or
Expatriate Card for verification.
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4. How do I pawn my item?
Bring the item you wish to pawn and present it to our customer representative
together
with your Identity Document for verification. Our experts will determine
the value for
your
item. If the amount is agreed by you, cash to the amount you
accepted will be
given
to
you together with a Pawn Ticket.
| >> Please click here for a sample Pawn Ticket |
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5. What are the charges and fees?
We charge a monthly interest of 2% a month on the loan amount.
example1 |
Pawn amount= RM100 | >> Interest a month= RM2 |
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6. What is the duration of the loan?
A loan is given a term of 6 months.
example2 |
Pawn date: 15th January 2008 | >> Due date: 14th July 2008 |
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7. When can I redeem my item?
You can redeem your item anytime within the pawn period of 6 months.
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8. How do I redeem my item and how much do I have to pay?
Present your Pawn Ticket and identity document to our customer representative.
We will
determine the redeem amount by adding the pawn amount plus interest.
Once payments
have been made, the pawned item will be return to you.
example3 |
Pawn amount: RM1000 | >> Monthly interest: RM20 (RM1000 x 2%) |
| Pawn date: 15th January 2008 | >> Due date: 14th July 2008 |
| Redeem date: 10th May 2008 | >> Pawn duration: 3 months 26 days |
| Interest outstanding: RM80 (RM20 x 4 months) |
| (3 months 26 days consider as 4 months as we charge 2% a month or part of it.) |
>> Redeem amount: RM1080 (RM1000 + RM80) |
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9. What will happen to my item once pawned?
The pawned item is protected using latest security system available. We
assured our
customer that their pawned item will be handled with our greatest
care and will be return
the way it is.
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10. Is my pawned item insured?
Yes. If anything does happen to your pawned item such as robbery, burglary, or
theft, we
will pay you another 25% of the pawn value.
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If you have any question please contact us. We will get back to you within 24 hours.
