About lender
A pawnbroker, also known as a pawnshop, is a business that makes loans to customers by using their personal belongings as collateral. Customers are welcome to bring jewelry, musical instruments, televisions, gold, watches, cameras, or laptop computers.
PTS Gadget Pawnshop is a pawnbroking shop established in 2008, with its first office at 691 Tandang Sora Ave, Matandang Balara, Quezon City, 1119 Metro Manila. They have since expanded and now operate 15 branches around Metro.
Their services are simple: you bring your gadgets to any of their branches, they find out the appraised value, both parties come into an agreement, you choose your loan term and the interest rate, and then you get your loaned amount instantly.
Pros and cons
It will be worthwhile looking at these pros and cons before going on to pawn with PTS as they will let you know what to expect.
Pros
They have many branches around Manila, so it is unlikely you'll see a long queue.
They offer you with cash for your pawned gadget in less than two hours.
They do not require you to present a long list of paperwork to pawn.
They offer loan terms up to 90 days.
They offer decent interest rates compared to other competitors.
They pawn up to ₱100,000, which is more than the average limit across the nation.
Cons
They do not have any website, so little is known about them online.
They operate mainly in Manila and its environs.
They only have one service, which is gadget pawning.
They only pawn watches, cellphones, cameras, game consoles, laptops, etc.
Products
As stated earlier, the only product they offer is gadget pawning. They pawn wristwatches, cell phones, laptop computers, etc. You can get a loan using your gadget as collateral, with the only requirement being that you must have a linked bank account. Their minimum financing amount is ₱1000, and the maximum amount is ₱100,000. The minimum loan term is seven days, while the maximum is 90 days. The daily interest rate is between 0.13% - 0.3%, and the approval duration can be up to 2 hours.
For instance, if your gadget’s appraised value and loan amount are ₱15,000, the loan term is three months, and the interest rate is 0.3% daily. The monthly payment will be ₱5,939, the overpayment will be ₱2,817, and the total payment will be ₱17,817.
