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Ablaza Pawnshop

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About Ablaza pawnshop

Ablaza Pawnshop is a fast cash loan and pawning service provider based in the Philippines. They sell or buy items such as cellphones, laptops, tablets, gold, diamond, and platinum jewelry, as well as provide loans secured by these items.

Ablaza Pawnshop is a pawn shop that ensures Filipinos have access to quick funding by offering fast cash loans and pawning services. They have 10 branches, with the main office located at Quezon City 2C Roosevelt Avenue 1100. You can use their services any day of the week at most branches from 8:00 A.M. to 5:00 P.M. They accept various items, such as watches, cellphones, laptops, tablets, gold, diamond, and platinum jewelry, as collateral. When you pawn an item, a service fee of 1% of the loan principal is charged, but they limit it to ₱5.

Pros and cons

You should check a business's advantages and disadvantages to ensure they are reliable, trustworthy, and honest. It is important to know what the pawn shop has done in the past so that you can be confident about its ability to do what they promise. You can also make sure the safety and value of your possessions are guaranteed by taking into account factors, such as the security of your items. Then, there's the customer service experience and the convenience of doing business with a pawnshop. Take into account the ease of contacting them and how fast they respond, so you can contact customer service before traveling all the way to the branch if you have an urgent issue.

Here are Ablaza pawnshop's pros and cons.

Pros

  • The pawnshop keeps your pawn in a secure place.

  • The pawnshop has a great selection of items that you can pawn, including mobile phones, laptops, tablets, gold, diamond, and platinum jewelry.

  • The pawnshop's staff is friendly and helpful.

Cons

  • You should keep your pawn ticket in a safe place to avoid misplacing it as it may be difficult to retrieve your item back once you have paid off your loan or purchase amount.

  • You must open a linked bank account before your pawn loan is approved.

Products

Ablaza Pawnshop offers the following products and services.

  • Pawning. Ablaza accepts items like cellphones, laptops, tablets, gold, diamond, and platinum jewelry at an interest rate of 3%-6% per month. A service fee of 1% of the loan principal is charged, but it is limited to ₱5, and the approval only takes two hours.
  • Fast Cash Loan. Ablaza offers fast cash pawn loans that lend you less money than the value of your collateral when you need money right away. To apply for the loan, visit one of their nearby branches and arrange for an appraisal to verify the value of your possessions. You can be approved for a larger loan if it is less than ₱40,000 by presenting more pawns. To know how much interest rate you will pay after an appraisal determines the value of your pawn, use the loan calculator. The loan calculator will also assist you in determining how much money you will save by repaying your pawn credit early. When the loan is approved, after two hours, the lender will charge a daily interest rate of 0.1% - 0.2% on loan amounts ranging from ₱5,000 to ₱40,000. Ablaza will then hold on to your pawns until you fully repay your loan.

FAQ

What is an Ablaza pawnshop?

Ablaza is a Filipino pawnshop that provides pawning and fast loans ranging from ₱5,000 to ₱40,000 at a daily interest rate of 0.1% - 0.2% for up to three months and are approved in less than two hours. The pawn loans are secured by collateral on various items, such as mobile phones, laptops, tablets, gold, diamond, and platinum jewelry.

Who owns the Ablaza pawnshop?

Luis Ablaza Jr. owns the Ablaza pawnshop.

How do you qualify for Ablaza pawnshop loans?

To qualify for a pawn loan, you must have proof of identification, be a Filipino citizen over 18, and have collateral.

What is the maximum Ablaza pawnshop pawn loan amount you can get?

The maximum Ablaza pawnshop pawn loan amount is ₱40,000.

How much interest does the Ablaza pawn loan attract?

The Ablaza pawn loan has a daily interest rate of 0.1% - 0.2%.

What is the average approval time for an Ablaza pawn loan? 

An Ablaza pawnshop loan takes two hours to approve.

Is the Ablaza pawnshop a legitimate company?

Yes. The Ablaza pawnshop is regulated by the Bangko Sentral ng Pilipinas (BSP) and registered by Anti-Money Laundering Council (AMLC).

For what period can I take out an Ablaza pawn loan?

Ablaza Pawnshop pawn loans are available for 10-120 days.

Does the Ablaza Pawnshop own the collateral for the loan period?

Yes, Ablaza Pawnshop owns the pawn until you repay the loan; however, if you default, the item is auctioned off.

How is an Ablaza pawn loan different from a jewelry loan?

An Ablaza pawn loan is a short-term credit facility secured by collateral, and you repay it in four months. In contrast, a jewelry loan is an unsecured credit facility, mainly provided by banks with a maximum term of five years. Jewelry loans are more expensive than pawn loans because, unlike pawn loans, which only require collateral, they demand proof of solvency before giving you the expensive jewelry you want.

What is the maximum period for an Ablaza pawn loan?

The maximum term is 120 days.

Is solvency confirmation required to receive an Ablaza pawn loan?

No, a document proving your identity and the item used as collateral are all that are required for an Ablaza pawn loan; no proof of solvency is needed.

What will happen to the collateral if I do not pay the Ablaza pawn loan?

If you default on the Ablaza pawn loan, the proceeds from the auction of your collateral are used to pay off your debt, along with interest and penalties.

Financial products

Ablaza Pawnshop
Loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
40 000 ₱
Rate
i

Effective interest rate on the product

0.2% per day
Term
i

Loan term for the financial product

120 days

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 Ablaza Pawnshop loan calculator

Calculate loan payments at Ablaza Pawnshop. Loans calculator will allow you to calculate an approximate payment schedule for the loan.

Ablaza Pawnshop calculator
Interest rates are given in accordance with the rates of the Ablaza Pawnshop in Manila as of 04.12.2022
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