How To Pawn
Pawning is a quick and convenient way to get instant cash your financial needs. As long as you are above 18 years old, all you have to do is to bring your Identity Card or Work Permit, Gold, Jewellery items or a Branded Watch (Rolex etc) to our store and our experienced Valuation Team will give you the best possible price for your precious items.
Upon your acceptance of our valuation, we would hand over the cash to you with a pawn ticket with a 6 month loan period from the date of the pawn.
On or before the due date of the pawn ticket, you can come to redeem the gold items by paying the loan amount plus the 6 month interest calculated at 1.5 % per month.
For example, if you pawn your Jewellery for $100 on 10 January 2015, your pawn ticket expiry will be on 9 July 2015 and the amount you will have to pay will be :
Loan Amount $100 + Interest $9 (1.5 % X 6 months) = Total $109
However if you decide not to redeem your items, you can extend the loan for another 6 months by just paying interest amount only. Using the above example, all you have to pay on 9 July 2015 will be :
Interest for renewal of Loan Amount $100 = $9 only.
There is no limit on the number of times you can renew your pawn ticket so long as you are paying the interest on the loan amount.
Do call us if you have other queries on the above procedures.