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What is a Pawnshop?

Pawnshops in Malaysia provide loans in exchange of valuable items. They have been around since 1871 after the Pawnshop Ordinance was introduced and it was then replaced by the 1972 Pawnbrokers Act.

Disclaimer

There is no minimum pawn period and the maximum is 6 months. A customer may choose to redeem their valuables within this period or renew their pawn ticket for a further 6 months based on the standard interest rate not exceeding 1.5% per month. (Different charges apply for items renewed/redeemed after auction).

The maximum interest charged is 1.5% per month, which makes the total interest charged for 6 months 9%. (Different charges apply for items renewed/redeemed after auction). In this case, if the customer comes back to renew their ticket for a further 6 months, the annual percentage charged would be 18% in total. An example is shown below:

After a customer comes to pawn, they may redeem their valuables at any given time within the 6 months timeframe. Assuming the pawn amount is RM1,000, when a customer redeem their valuables at the end of 6 months, the interest payable is RM90 based on the calculation RM1000 x 1.5% x 6 months = RM90. Therefore the amount payable is RM1090.

There are no hidden costs other than the 50 cents we charge for each pawn ticket that we issue.

Malaysia Licensed Pawn Brokers

Chain of Licensed Pawnshops in Kuala Lumpur and Selangor, Malaysia, established in 2011.

Gold Price

LICENSED PAWN BROKERS

PAJAK GADAI JM BALAKONG SDN. BHD.
PAJAK GADAI HY CHERAS SDN. BHD.
PAJAK GADAI WORTHY CONCEPT SDN. BHD.
PAJAK GADAI JALAN KLANG LAMA SDN. BHD.
PAJAK GADAI HK JALAN IPOH SDN. BHD.
PAJAK GADAI WL KEPONG SDN. BHD.

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