Usually, interest payments are made in pawn shop business when you redeem your valuable item or when the loan period ends. There are several ways you can pay your interest at Pawnzon. Here are some methods you can use:

i. Cash Payment: You can pay the interest at the counter using cash at our pawn shop.

ii. Online Payment: You can pay the interest online through the online payment portal.

 

Pawnzon is a leading online platform that has transformed the way people engage in pawn transactions. In this blog, we will explore in detail how Pawnzon works and explain the various advantages it offers to users. Whether you are a borrower or a lender, understanding how Pawnzon operates will empower you to make informed decisions and effectively utilize its services.

1. Transparent and Secure Platform:

Pawnzon prides itself on its transparency and prioritizes our users' security. Every step of the pawn process is conducted online, ensuring a seamless and efficient experience for users. The platform utilizes every security measure to protect user information and our transactions.

 

2. Easy and User-Friendly Registration:

The registration process is extremely easy and user-friendly, allowing you to create an account in just a few minutes. Once registered, you can access all the documents and view your loan period.

 

3. Easy Loan Process:

The loan process with Pawnzon is quick, easy, and secure. Once you have the jewelry or item you wish to pawn, you can visit our shops in KL and Selangor(Shop Locations)

 

4. Pawn Process at Pawnzon:

i. Bring the item you wish to pawn and identification documents to any pawn shop in our network.

ii. Get an offer price for your valuable item.

iii. Receive cash and a pawn ticket immediately if you agree to our offer price.

 

5. Flexible Repayment Options:

Pawnzon understands that financial situations can vary, which is why it offers flexible repayment options. As a borrower, you can repay the loan, including interest, within the specified period. For each new pawn transaction, customers can choose one of the following flexible interest plans:

i. Monthly interest (fixed rate at 1.5% per month)

ii. Daily interest (not exceeding 2% per month)

 

6. Pawn Ticket Renewal Process:

i. Bring your pawn ticket to any Pawnzon shops. OR Log in to your Pawnlink account.

ii. Choose the renewal option you desire: Increase/Decrease Loan Amount OR pay interest.

iii. Pay the interest and ticket fee, and receive a new pawn ticket.

 

In addition to the original pawn shop holding your pawned item, you can also renew your pawn ticket at other pawn shops within the Pawnzon shops, provided that the pawn shop subscribes to our "IPT" (Inter Pawnshop Transfer) service. The new pawn ticket issued will also have a validity period of 6 months. Before your pawned item is scheduled for auction, Pawnzon will send you reminders through SMS, calls, and emails.

 

Fast, Easy, and Secure

Pawnzon has transformed the traditional pawn industry by providing a transparent, secure, and user-friendly online platform. With a wide range of pawning options, easy borrowing and lending processes, flexible repayment choices, and transparent policies, Pawnzon offers a trusted space for borrowers and lenders. Take advantage of Pawnzon today and experience a hassle-free and satisfying pawn transaction like never before.