Pawns are becoming more and more popular. In many countries, typically the Philippines, many pawnbrokers have been established. People’s demand for loans and pawns has increased in recent years.
In this article, we will introduce Reymalyn Pawnshop – a well-known pawn company in the Philippines. We will also answer some questions related to the loan process of this company.
Table of Contents
What Is A Reymalyn Pawnshop?
Reymalyn Pawnshop and CellShop CO. is a company located in Bulacan, Philippines. Like many other pawn shops in the Philippines, Reymalyn Pawnshop contributes greatly to the country’s economy.
People who need money urgently will come to Reymalyn Pawnshop for pawning and loaning services. Entrepreneurs who need aid for their start-ups will ask for help from pawnshops.
Reymalyn Pawnshop is SEC and DTI registered. With these qualifications, the authorities recognize the company as a reliable source of finance.
Reymalyn always wants to meet the needs of borrowers with the best interest rates. They always guarantee legal issues for loans. Reymalyn Pawnshop ensures borrowers will be registered and receive loans as quickly as possible.
Legal documents and loan contents are also updated regularly. Preparing loan documents will also be easier for borrowers.
Which Benefits Can You Get In a Reymalyn Pawnshop?
With Reymalyn Pawnshop, you won’t need to go to the office to look for loan information. They have a website full of information about their services. On the website, you can find the function to calculate the loan and interest according to the term and the amount you want.
You need to enter the amount you want to borrow and the term. The tools can calculate the interest you have to pay each month. This is very useful when you need to plan your expenses in detail.
Besides, the website will also suggest some services suitable for your financial ability through the amount of money you want to borrow.
Moreover, Reymalyn Pawnshop always ensures that the amount of time for each loan application will be met. Typically, these procedures need no more than two hours of approval time.
The organization utilizes the necessary time to complete the task as quickly as possible because these operations won’t take more than a day. Additionally, you can get paid the same day that you sign up.
For pawn services, you can complete the procedure also within one day. Pick-up and delivery can also take place on the day of registration.
See also: PTS Gadget Pawnshop – A Trustworthy Financial Source in The Philippines
Which Services Does Reymalyn Pawnshop Provide?
Reymalyn Pawnshop provides pawning services, like the majority of pawnshops. In addition to being quick and dependable, pawn rates are also quite advantageous for customers.
Jewelry, watches, cell phones, laptops, and other valuables are all accepted at Reymalyn Pawnshop. Numerous accepted items promise low-interest rates to benefit clients. Reymalyn always sets interest at 3% to 6% per month, depending on your item.
The company will charge up to 5 PHP service fees for pawn services, typically 1% of the principal loan. A loan extension has always been made possible by Reymalyn. The evaluation time only takes up to two hours of your day. However, The Company may extend the payment period to three months.
For loan services, Reymalyn also facilitates customers with interest rates. Besides, with a tool to calculate loans, interest rates, and total payable amount. The company has given customers specific numbers, making it easier to make financial planning.
How Can You Get A Loan In Reymalyn Pawnshop?
Reymalyn does not require too much processing for a loan. You need to fill out the basic information in the application form.
The first is a bank account. You will need it to make transferring money easier. If you don’t have one, you will have to open a bank account.
For pawn services, you need a property as collateral. For this property, you need some proof of your ownership. At the same time are some documents proving the value of the property. The company will hold your property until you pay it off.
You only need to wait a few hours for the loan application process to be completed. Then, the company will call you to remind you about the loan at the time of interest payment. So don’t worry about losing your assets or losing control of your loan.
How Can You Contact Reymalyn Pawnshop?
Reymalyn Pawnshop has many branches in big cities like Manila, Valenzuela, and Bulacan. If you are in these cities, accessing the company’s services is very simple. You can go to the website to know the exact address of each branch.
The company is open from 8 am to 5 pm from Monday to Saturday. You don’t need to make an appointment before coming.
If you are far from the above branches, you can create a profile on the website. The website will guide you through the steps in the process. If you have problems or questions, call the hotline numbers for help.
FAQ
How Is A Pawnshop Different From A Bank?
Banks only accept substantial assets as collateral, including houses and cars, in contrast to some pawn shops. Additionally, banks charge interest rates of 3% to 4% monthly, and pawn shops often charge interest rates of 2% to 4% monthly.
In addition, banks want confirmation of solvency through more demanding processes.
What Is The Longest Term Possible For A Pawn Loan?
As mentioned above, the maximum time limit for the payment of a pawn loan is 3 months. This is a very good period for the pawnshop to facilitate customers.
Is Proof Of Solvency Necessary To Be Approved For A Pawn Loan?
You only need proof of property ownership and property value—no additional required documents.
If I Don’t Pay Back The Pawn Loan, What Will Happen To The Collateral?
At this point, you will no longer be able to get your items back. The company will own those assets, and they can sell them.
Conclusion
We introduced Reymalyn Pawnshop and the services they provide and some related issues. By accessing its website, you can easily find the loan info. The appropriate charge interest rate is ideal for any those who have the loan needs.
If you have any questions, please find out on the company’s website or call the hotline.
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