Pawn Broking-i

Financing-i

Pawn Broking-i

Pawn Broking-i offers fast and easy cash financing up to RM350,000 with low profit charges based on under the Syariah principle.

Concept

  • Murabahah (by adopting Tawarruq practice)
  • Rahn


Eligibility

  • Malaysian/ non- Malaysian / Permanent Resident
  • 18 years old and above
  • Not a bankrupt

Benefits

  • Free from riba
  • No process fees
  • Profit amount is calculated daily
  • Longer pawn period
  • Jewellery kept safely under Takaful protection
  • Transparent business deal and transaction is performed in a dedicated room with the customer present

Conditions

We accept:

  • Any type of jewellery/gold EXCLUDING marhun item that in the form of religious statue and/ or animate beings.
  • Gemstone jewellery
  • Gold bar, wafer, coin or gold nuggets (MUST include purchase receipts or certificate of authenticity).
  • Gold items rewarded by an employer to their employee in service with the condition that:
    • The employee needs to present the Certificate of Appreciation
    • Gold quality is between 22 to 24 carat
    • Maximum weight is 300 grams.?

    Financing Amount

    • Maximum margin of financing is up to 80% of the current market value of the jewellery (Marhun Value).
    • Total daily/ accumulative financing limit is up to RM350,000
    • Total daily financing for hollow jewellery is up to RM100,000


    Financing Limit

    New customer/existing customer - Up to 80% of marhun's value

    Financing Tenure

    18 months

    Payment Methods

    a.Total Profit

    Profit must be paid before/on due maturity profit date for every 1st and 2nd cycle of 6 month as per table below:

    ProfitFirst (1st 6 month)Second (2nd 6 month)Third (3rd 6 month)
    DateBefore/Due «Date Due Profit »Before/Due «Date Due Profit »Before/Due «Date Due Profit »

    b.Amount Finance

    Amount finance must be paid on the expiry of tenure. (Principal amount + profit (3rd cycle).

    Amount FinanceFirst (1st 6 month)Second (2nd 6 month)Third (3rd 6 month)
    DateNANABefore/Due «Date Expiry of tenure»

    Profit Rate

    • ?Profit Rate is calculated based on the marhun's value and pawn period
    • Profit Rate table are as follows:
    Marhun Value (RM)Profit Rate for every RM100 Marhun Value Per Month (RM)
    < 5000.60
    > 500 – 5,0000.75
    > 5,000 – 10,0000.80
    > 10,0000.85
    • Calculation formula CPR (Contractual Profit Rate) for Pawn Broking: a = b x c/100 x d
      • CPR = a
      • Marhun value = b
      • Profit rate = c
      • Loan tenure = d (Note: Loan tenure is based on daily calculation)

    Fees & Charges

    None

    Product Disclosure Sheet


    The published rates are effective from 1st February 2020. Terms & conditions apply.

    For any enquiries, please visit the nearest branch or call our Contact Centre tele-Rakyat at 1-300-80-5454.

    *Terms and conditions apply.

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