How does pawning work?
- Pawning is a collateral loan. Our staff value your item against current market rates and offer a loan based on that valuation. The loan period is six months.
What do I need to bring?
- A valid NRIC or passport. You must be 18 or older.
What can I pawn?
- Gold in any purity from 375 to 999, diamond jewellery, luxury watches and designer bags. Gold is valued at the counter while you wait. The others are assessed individually, so call the branch or message us and we will arrange a time. Read this in full
What does it cost?
- Two things: monthly interest on the loan amount, and a process fee of RM0.50 for each pawn ticket issued. Nothing else. There are no hidden costs and no valuation fee. Renewing issues a new ticket, so it carries the same fifty sen and no separate renewal charge on top.
What is the interest rate?
- Little India Klang offers 1.5% a month for the first six months and 2% a month after that. All other branches charge a flat 2% a month throughout. Confirm the rate at the counter before you pawn. It is stated on your pawn ticket.
Can I extend the loan?
- Yes. Pay the interest due and we issue a new pawn ticket with a further six month period. Through our app you can also pay the interest one month at a time to push the due date back gradually.
What happens if I cannot pay on time?
- Nothing happens suddenly. Seven days before your due date we send a text message. If the date passes and we have not heard from you, we write to you and we call you. Only after that does an item go to auction.
Is my item safe?
- Items are held in bank-standard safe rooms and secure boxes, on premises guarded around the clock.