- What is the highest interest rate for pawn shops? Article 38 of the "Pawn Management Measures" stipulates that: the pawn comprehensive expenses include various services and management fees. Among them, the comprehensive cost includes three categories: car, antiques, jewelry and other movable property pledge fees up to 4.2% per month; retail, residential, office buildings and other real estate mortgage fees...
- What is the highest interest rate for pawn shops in 2015? Pawn shops, also known as pawnbrokers or pawnshops, are non-bank financial institutions that mainly use property as pledge for paid and term loan financing. The exchange of money for things is the essential feature and mode of operation of pawn. The actual possession of the pawn of the property that the owner has a certain value of the property...
- Can pawn shops deduct interest? In December 2013, Qi Ruhui signed a “Pawn Contract” with the pawnshop for the operation, stipulated that the deposit was 500,000 yuan, the monthly interest rate was 0.06%, the monthly comprehensive service rate was 27, and the pawn period was three months. When Yu Ruhui went to collect the gold, he found only 491,000 yuan. pawn...
- Pawnshop loan considerations In case of insufficient funds and the bank can not lend, you can choose to temporarily mitigate the fund problem to the pawnshop pawn. So, what do you need to pay attention to when you go to the pawnshop pawn loan? Matter 1 What items can be mortgaged? Today, the pawnshop business is much broader than the original, no...
- Pawnshop loan to save money secrets With the advantages of fast approval and low threshold, the pawnshop quickly stood out in the mortgage market and gained a firm foothold. Many friends with limited qualifications hope to ease the pressure on funds through its help. However, the loosening of approval means that the potential risks are difficult to estimate, in order to cover...
What is the interest on the pawn bank loan?
As a supplement to banks, pawn bank loans are mostly for people who cannot meet the bank loan conditions or pursue the speed of lending, and thus become the “civilian” bank in the eyes of the public. However, the pawnshop is not a financial institution after all. The risk of lending is large and the free funds are limited. Can these factors that cannot be ignored cause the pawn bank's interest to be significantly higher than that of the bank?
It is understood that the pawn bank charges are generally divided into two parts, one is the interest charged according to the benchmark interest rate of the loan; the other is the monthly comprehensive management fee, the maximum is not more than 4.2%.
However, the fees for different types of arrears (quality) levy monthly comprehensive management fees are also different, roughly divided into three categories: car, antiques, jewelry and other movable property pledge, the monthly comprehensive management fee can not exceed 4.2% The mortgage of real estate such as shops, houses and office buildings shall not exceed 2.7%; the pledge of property rights such as shares and bonds shall not exceed 2.4%.
Although pawn fees are much higher than banks, many pawn shops still give borrowers a "breathing" room that does not meet the standard ceiling. For example, the housing and vehicle mortgage loans of the Wangao International Pawnshop are subject to a monthly management fee of 2.5% and 4.0%, and the monthly interest rate is 0%. It can be seen that within the scope of the charging standard, each pawnshop has its own set of pricing system, and the borrower may wish to shop around.
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