Pawnshop is a place to borrow money within a certain period by handing over goods as collateral or dependents.
In principle, if the loan is not paid according to the due date, then the collateral will be the property of the pawnshop.
The pawn process or the pawn contract can actually be carried out without having to be in a pawnshop. A pawn agreement can be done personally based on the voluntary principle. However, not everyone is ready and has money. Therefore, many people rely on Pawnshop as a place to borrow money.
PT Pawnshop (Persero) profiles
PT Pawnshop (Persero) or Pawnshop is a State-Owned Enterprise that obtains an official permit to pawn based on the Civil Law Act in Article 1150. This government-owned company is engaged in the financial sector, namely financing, gold and various services.
Pawnshop is considered as one of the more simple financial institutions compared to other conventional financial institutions such as banking. The lending procedure at Pawnshop was considered easier than at the bank. This is one of the reasons why Pawnshop is the people’s choice.
Generally people mortgaged valuable items such as precious metals. Even Pawnshop is considered as a trustworthy institution to entrust valuables. So the benefits provided are also double.
Conditions to Apply for a Loan at the Pawnshop
The conditions needed to apply for a loan to Pawnshop are determined based on the product selected. But, in general, here are some general conditions for applying for a loan through Pawnshop.
- Photocopy of KTP or other ID.
- Family card, marriage certificate.
- Submit collateral or collateral in the form of valuable items such as gold, electronic goods, or motor vehicles.
- Collateral in the form of a vehicle must carry BPKB, original STNK, and Purchase Invoice.
- Approve proof of credit (SBK).
Loan products from Pawnshop
Fast and secure credit (KCA) is the most popular product in Pawnshop. This loan can be used for both consumptive and productive needs. This product was chosen because it is easy and quick to get cash from Pawnshop.
This product provides loan funds ranging from $ 50 thousand to $ 500 million with a loan process in just 15 minutes. Collateral provided can be in the form of jewelry, vehicles, or other electronic goods.
The maximum loan repayment period is only four months or 120 days. However, the tenor loan can be extended by paying capital rent or repaying a portion of the loan.
These special loans are only intended for Micro, Small and Medium Enterprises (SMEs) with the aim of developing their business through the pawn system. Collateral that can be given in the form of jewelry or motor vehicles with nominal loans ranging from $ 1 million to $ 250 million.
This business loan product is very flexible with loan tenors ranging from 6, 12, 24, to 36 months making it lighter for business people. The amount of the loan is determined based on the goods pledged with a value reaching 95% of the estimated price of the guaranteed items.
Creative is intended for Small and Medium Enterprises (SMEs). The goal is to develop business with the principle of fiduciary. The fiduciary guarantee system is simpler because it can guarantee only the motorized vehicle certificate in the form of BPKB. While the vehicle can still be used for business purposes.
This product is in the form of a loan with Islamic principles for civil servants or private employees who want to have a motorbike or car by installments.
The advantage of this product is that it provides fixed installments and flexible installments ranging from 12 months to 60 months. This product requires a down payment of 20 percent for cars and 10 percent for motorcycles from the total price of the vehicle. As well as being charged an admin fee of 1 percent of the total loan starting from USD 5 million to USD 450 million.
5. Your Majesty
This product is one of the investment products offered by Pawnshop. Mulia is a gold investment product with a cash purchase system or by installment purchase.
This product offers gold weighing between five grams to one kilogram. Purchases can be made in cash, in installments, and can even use a social gathering system or group purchases.
6. Gold savings
Gold savings is one of the savings products from Pawnshop that makes it easy for customers to own gold by saving. The amount of gold starts from 0.01 grams with a very affordable price.
Savings can be withdrawn at any time by following the gold price in effect at the time of disbursement. Gold purchases can also be done online, making it easier to transact.
This product offers a service for sending money and receiving money from home and abroad without using a bank account. Pawnshop works closely with trusted national and international remittances. The process can be done easily and instantly while still maintaining security guarantees.
8. Multi Payment Online (MPO)
This product is a convenience provided by Pawnshop to customers who need payment services for various bills that are served in all Pawnshop branches in Indonesia.
Customers have the advantage of paying various bills at Pawnshop, including:
- Payment of electricity bills.
- Telephone bill payment.
- PDAM contributions.
- Mobile phone credit purchases.
- Purchase train tickets.
This service is also available online through the Pawnshop website. Payment can be made using the gold pawn service.
Those are some of the products and Pawnshop requirements offered. Almost all Pawnshop products require general requirements and do not complicate things. These conditions will differ from one another depending on the product selected.
If you still have difficulty managing your finances and need advice on investing, don’t hesitate to consult with the Lifepal team for free through various social media channels that have been provided.