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BHF Pawnshop

Advertiser Disclosure

About lender

Balingit Home Furnishing, or BHF, has long been associated with furniture and appliances suitable for all types of homes. Their stores, located in key cities throughout North Luzon and Metro Manila, carry products that are not only of good quality but also offer good value for money. According to them, they only buy from reputable suppliers. They are an authorized dealer for well-known appliance brands such as Sony, etc.

BHF is not limited to home furnishings. It also operates a pawnshop, sells jewelry and watches, and operates rural banking, supermarkets, and department stores, for which it has earned a reputation for quality service, honesty, and credibility.

Balingit Home Furnishing Pawnshop and Jewelry store is a pawnbroking company that has expanded into jewelry retail, local and international remittance, leasing, and bill payment since its inception in 1998. It has a presence in the Pangasinan and Nueva Ecija provinces.

Pros and cons

Check out these honest reviews before you decide to apply for BHF pawn services.

Pros

  • The company offers services other than pawning.

  • The company has been in existence for a long time.

  • Their interest rate is one of the lowest in the business.

  • Your loan can be checked and approved in one hour.

  • There are not many requirements to get a loan.

  • They have a running website, although it is more for checking their products and services than for loan applications.

  • They have more than one branch.

Cons

  • The maximum loanable amount is just ₱70,000. That is very low compared to competitors.

  • The application can only be made in-branch.

Products

Below are some of the products and services offered by BHF

Pawning

The primary service of BHF is pawning. Precious metals, expensive watches, gold and platinum rings, diamond studs, bracelets, pendants, chains, cufflinks, brooches, and silver cutlery are all accepted. Scrap jewelry and bank bullion are both acceptable forms of precious metals. Gadgets and household appliances are not accepted at the pawn shop. The following are the terms for issuing jewelry-secured loans:

  • The pawnshop rate is 3% per month with an estimated cost of pawnable items from ₱100 to ₱10,000 and 2.75% per month with the value of a pawn from ₱10,050 to ₱20,000. 2.5% per month at an appraised value between ₱20,050 and ₱70,000.

  • The credit term is up to three months or 90 days. There is a possibility of extending the loan period for one extra month.

If the loan term is less than one month, then the pawnshop rate is determined according to the following rule:

  • 1 - 10 days, the interest rate is 1% of the credit amount.

  • 11 - 15 days, the interest rate is 1.5% of the credit amount.

  • 16 - 30 days, the interest rate is 3% of the credit.

Insurance

The pawnshop also provides microinsurance to Filipinos. Starting at ₱20, insurance includes cash benefits in the event of an accident and funeral benefits in the event of natural death. The insurance is valid for three months to one year, depending on the chosen program.

Money transfer

This service has attracted increasing attention in recent years. Thanks to digital technology, sending money within the country now takes several hours. The pawnshop works with all domestic money transfer and primary global electronic fund transfer services.

BHF Pawnshop

FAQ

What is BHF Pawnshop?

The BHF Pawnshop is part of the BHF group of companies, which is primarily a family business. It provides borrowers with one of the highest pawn valuations, one of the lowest interest rates, and same-day cash payouts. This is a good option if you need to pay bills, pay for medical treatment, car repairs, buy groceries, and other necessities immediately.

Who is the owner of the BHF Pawnshop?

BHF Pawnshop is owned by the Balingit Home Furnishing Group of Companies.

How does BHF Pawnshop work?

In the BHF Pawnshop, you pawn your item and then sign the back of the ticket at the line marked Pawner. Then, before leaving, show the signed pawn ticket and the payment for the amount due on the redemption of the item.

What are the requirements for BHF Pawnshop money transfer services?

You must have a valid phone number, a valid email address, and at least one government-issued ID.

What are the minimum and maximum loan amounts at BHF Pawnshop?

The minimum loan amount is ₱100, and the maximum is ₱70,000.

How do I pawn at BHF Pawnshop?

To begin, the customer must contact the closest pawnshop and provide an identity document and their pawn for assessment. The valuer will announce the maximum amount the pawnshop can borrow to the client based on the security of this pawn after inspecting it. Suppose the borrower agrees with the pawn's evaluation. In that case, he or she fills out an application or pawn ticket, which clearly shows the loan amount, issue date, interest rate, and maturity of the loan or the inaugural monthly payment. To get his pawn back after the loan is repaid, the client must keep the pawn ticket until the entire loan amount is refunded. The loan term can be extended for an additional month if the client cannot pay the monthly depreciation.

What is the maximum loan term at BHF Pawnshop?

The maximum loan term at BHF Pawnshop is 90 days, with an option to extend to the fourth month.

What is the interest rate for BHF Pawnshop?

The interest rate at BHF Pawnshop is 0.1% to 0.3% per day. 

Is it necessary to provide proof of solvency to obtain a Pawn loan from BHF Pawnshop?

A document proving your identity and the jewelry left as collateral is required to obtain a Pawn loan from BHF Pawnshop. There are no other documents required.

What happens to the collateral if I fail to repay the BHF Pawn loan?

The pawnshop will sell your pawn.

Company documents

Terms of use

We select our items with care to make sure that every customer who walks into our stores would find something that would suit his taste and his needs.  Our staff are also trained to make shopping easy and convenient.

© BHF Pawnshop

Financial products

BHF Pawnshop
Pawning loan
Rating by Finanso®
i

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
₱70,000
Rate
i

Effective interest rate on the product

0.3% per day
Term
i

Loan term for the financial product

up to 90 days

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Calculate loan payments in BHF Pawnshop

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