The minimum pawn period is 61 days 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 2% per month.

The maximum interest charged is 2% per month, which makes the total interest charged for 6 months 12%. In this case, if the customer comes back to renew their ticket for a further 6 months, the annual percentage charged would be 24% 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 RM120 based on the following calculation: RM1,000 x 2% x 6 months. Therefore, the total amount payable is RM1,120.

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