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Reymalyn Pawnshop

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About Reymalyn Pawnshop

In the Philippines, pawnshops like Reymalyn make it simple for customers to receive fast cash when they need it most by offering pawn loans with accommodating terms and conditions or purchasing their items at competitive prices. Reymalyn Pawnshop offers a fast cash loan, buys or sells various items, including jewelry and electronics, and helps you find the perfect item for your lifestyle and budget.

Reymalyn Pawnshop has nine branches, with the main office located at Pan-Philippine Highway, Banga 1, Plaridel, 3004 Bulacan. Reymalyn Pawnshop provides pawning and fast cash loans. You can use their services at any branch from Monday to Saturday, 8:00 a.m. to 5:00 p.m. When you pawn an item, a service fee of 1% of the loan principal is charged, but they limit it to ₱5. As collateral, they accept various items, such as jewelry, watches, cellphones, and laptop computers.

Pros and cons

Using a pawn shop has benefits, such as receiving cash quickly or finding unique products to purchase at a discount, but it also has drawbacks. Before deciding to use a pawnshop service, you should always consider its advantages and disadvantages. Considering factors like experience can indicate they have more experience than a competition or that your pawn is secure in their hands. If you have heard good things about them from friends or family members, that's another sign they're worth dealing with. You should also check the business's registration status to see if it is authorized to operate in your state. If the firm is not licensed, there are no guarantees about how much money you will receive from the pawn, or whether they will keep the item safe until you can repay the loan.

Here are Reymalyn Pawnshop's pros and cons.

Pros

  • The pawn loan application is easy, as you only fill out one loan form.

  • The pawnshop can extend the payment period for up to three months at a monthly interest rate of 3% to 6%.

  • The pawnshop will remind you to repay your pawn loan within three months to avoid having your item auctioned off.

Cons

  • Your pawn loan might not get approved without a linked bank account

  • You will need a document proving your identity to collect any jewelry used as collateral when reclaiming your pawned item.

Products

Reymalyn Pawnshop offers the following products and services.

  • Pawning. Reymalyn accepts items like jewelry, watches, and electronics 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. Reymalyn Pawnshop can extend the payment term to three months, but the approval only takes two hours.
  • Fast Cash Loan. When an appraisal informs you of the value of your pawn, you can use the loan calculator to input data such as the loan amount, interest rate, and the duration of the term. Once you've entered the data, you will know how much Reymalyn Pawnshop expects you to pay in total, monthly installments, or even the amount you need to pay in case you opt for early payoff. When the loan is approved, the lender will charge a daily interest rate of 0.1% - 0.2% on loan amounts ranging from ₱5,000 to ₱75,000. Reymalyn will then hold on to that item until you fully repay your loan.

Reymalyn Pawnshop also offers money transfer services.

Reymalyn Pawnshop

FAQ

What is a Reymalyn Pawnshop?

Reymalyn is a Filipino pawnshop that provides pawning and fast loan services that are approved in two hours or less. The pawn loans range from ₱5,000 to ₱75,000 at a daily interest rate of 0.1% - 0.2% for up to three months. They accept collateral on various items, such as jewelry, watches, and electronics.

Who owns the Reymalyn Pawnshop?

The Reymalyn group of companies owns the pawnshop.

How do you qualify for Reymalyn Pawnshop loans?

You must have proof of identification, be a Filipino citizen over the age of 18, and have collateral to qualify for a pawn loan.

What is the maximum Reymalyn Pawnshop pawn loan amount you can get?

The maximum Reymalyn Pawnshop pawn loan amount is ₱75,000.

How much interest does the Reymalyn pawn loan attract?

The pawn loan attracts an interest rate of 0.1% - 0.2% daily.

What is the average approval time for a Reymalyn pawn loan? 

The average approval time for a Reymalyn Pawnshop loan is two hours.

Is the Reymalyn Pawnshop a legitimate company?

Yes. The Reymalyn Pawnshop is regulated by the Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC), and the Department of Trade and Industries (DTI) registered.

For what period can I take out a Reymalyn pawn loan?

Reymalyn Pawnshop pawn loans are available for 7-90 days.

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

Yes. Reymalyn Pawnshop sells the pawn at auction if you do not repay your loan balance before the due date.

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

A pawn loan is secured by collateral and short-term at a maximum of four months. When you take out a pawn loan, they use the item as collateral for the loan and should be worth more than the amount being lent. On the other hand, jewelry loans are unsecured and can last up to five years. Jewelry loans are more expensive than pawn loans because they allow you to purchase higher-priced items like engagement rings or wedding rings with minimal down payments.

What is the maximum period for a Reymalyn pawn loan?

The maximum term is 90 days.

Is solvency confirmation required to receive a Reymalyn pawn loan?

No. A Reymalyn pawn loan does not require proof of solvency; all that is required is a document proving your identity and the item as collateral.

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

If you do not pay the Reymalyn pawn loan, they will sell your collateral at an auction, and the proceeds from the auction will go towards paying off your debt.

Financial products

Reymalyn Pawnshop
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
5 000 - 75 000 ₱
Rate
i

Effective interest rate on the product

0.1% - 0.2% per day
Term
i

Loan term for the financial product

up to 90 days

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 Reymalyn Pawnshop loan calculator

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

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