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Gemmary Pawnshop

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About lender

Pawnshops can be a great way to borrow money and use your items as collateral when you need the funds. Pawnshops are also a good option if you are in a hurry or have limited funds because the interest rate is usually low, and the loan term is short. At Gemmarly Pawnshop, you can pay your electric, water, cable, and phone bills. You can also pawn your items for instant cash if they are on the list of accepted items.

Gemmary Pawnshop was established in 1999 by Mark and Gina Yu. It has more than 80 branches, and its headquarters are at 225 Tandang Sora Avenue, Tandang Sora 2, Quezon City, 1116 Metro Manila. The pawnshop provides services such as money transfers via Western Union and a layaway auction plan. They pawn gold, diamond, platinum jewelry, watches, cellphones, and computers.

Pros and cons

You can find high-quality items such as jewelry, appliances, and electronics at the pawnshop. Even if you don't have a lot of money, there are ways to get high-end items, such as using the layaway plan at an auction. A layaway plan allows you to bid on an item and win it, but instead of receiving it right away, you agree to pay for it in installments over time. However, there are still drawbacks associated with using Gemmary Pawnshop. Therefore, before using any of their services, keep this in mind.

Pros

  • You can access the Gemmary Pawnshop quickly and conveniently to sell or buy something in a pawnshop.

  • You have access to a large number of items up for auction.

  • You can access many services, including remittance, bill payments, and cellphone load.

  • You can pawn items quickly and easily because there are no procedures involved.

Cons

  • Their website contains no information about interest rates or the maximum term of a pawn loan.

  • There is no complete list on their website of allowed items; therefore, you must visit the pawnshop in person to clarify whether the item you wish to pawn is acceptable.

  • There is no information on whether you can get a pawn loan online if you live too far away from any Gemmary Pawnshop.

Products

Gemmary offers the following services:

  • Remittances. The term “remittance” means a transfer of money from one place to another. The most common types of remittances are check-cashing, bank drafts, and cash advances. Check-cashing occurs when a person obtains a loan from a pawnshop and pays it back with a check. Additionally, you can transfer money from one account to another. Then, cash advances are when someone uses their credit card or personal line of credit to take out cash and pay for something like groceries or rent in advance.

  • Pawning. When you need money quickly, pawn loans are a great option. You can pawn items like jewelry or electronics at the store. You can also take a pawn loan against your items and repay at the specified rate and time or in full.

  • Bills payments. You can pay your electricity, water, and cable bills at Gemmary Pawnshop. You need a copy of your invoice with your account number for the transaction to be complete.

  • Cellphone load. Cellphone load is the monthly amount of data you consume. You can pay or reload your phone bill at Gemmarly Pawnshop.

  • Auctions with a layaway plan. A layaway plan is a way to pay for your pawn in installments. You have a fixed period to make an offer, and once it's accepted, you pay off the total value of the item and keep it until the end of that period. It's a great way to get items without debt or buying more than you can afford.

FAQ

What is a Gemmary Pawnshop?

 Gemmary Pawnshop offers pawning, pawn loans, bill payments, cellphone load, and auctions services. You need to visit the branch to confirm whether you can pawn your item or which items you can purchase at their auction. 

Who owns the Gemmary Pawnshop?

Gemmary Pawnshop and Jewelry, Inc. owns Gemmary. 

How do you qualify for a Gemmary pawn loan?

You must be of legal age, present accurate information about the item being pawned, and send or schedule an appraisal session to qualify for a Gemmary pawn loan. 

What is the maximum Gemmary pawn loan amount you can get?

The appraised value of your item determines the maximum loan amount available to you. 

Is the Gemmary pawnshop a legitimate company?

Yes. The Bangko Sentral ng Pilipinas (BSP) regulates Gemmary Pawnshop and requires them to follow strict guidelines to guarantee that they offer their customers affordable services. 

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

Gemmary pawnshop will auction your loan balance if it is not repaid before the due date. If there are no bidders and the auctioneer decides to keep the item, you may be able to retrieve it by paying off the total amount of your loan. 

How is a Gemmary pawn loan different from a jewelry loan?

Pawn loans differ from jewelry loans because they require collateral as an eligible item. In contrast, a jewelry loan demands proof of income to verify your ability to repay. A pawnshop then gives you the jewelry, and you begin making payments. 

Is solvency confirmation required to receive a Gemmary pawn loan?

No. You don't have to provide proof of your financial stability to be qualified for a Gemmary pawn loan because an item is used as collateral.

Financial products

Gemmary Pawnshop
Pawn loans
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 Gemmary Pawnshop loan calculator

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

Gemmary Pawnshop calculator
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