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Tips when getting a pawn loan in Malaysia
November 29, 2018
What should you aware of when dealing with a pawn shop? Don’t worry, we’ve listed a few useful tips for you. Know the value of
All You Need to Know About Pawn (Pajak Gadai) in Malaysia
November 29, 2018
In Malaysia, the history of pawn shop existed since the year 1871 and governed by the Pawnbrokers Act 1972. After these years, pawn loan still one
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- Maximum period for repayment is 6 months from the date of pawning. However, additional time can be requested if required by the customer.
- There is no minimum repayment period (i.e. we do not offer loans that require repayment under 61 days).
- Annual Percentage Rate (APR) is not more than 24%.
- For example, RM 1,000.00 loan for 3 months will cost RM45 in interest based on monthly interest of 1.5%. Therefore, the amount required to redeem a pledged item is RM1,045.