Bangkok’s official pawn shops to reduce interest rates as school reopening approaches
Pawn shops in Bangkok will reduce their interest rates for three months from April 1 to June 30 in anticipation of high cash demand as schools nationwide are expected to reopen on May 15.
“We estimate that in the coming months parents and students will need financial support as many have suffered from the Covid-19 fallout,” said Wanlaya Watthanarat, deputy permanent secretary of the Bangkok Metropolitan Administration.
“The 21 official pawn shops in Bangkok will therefor reduce their interest rates for Bt5,000-Bt100,000 worth of items pawned, from a progressive rate starting from Bt1 to a flat rate of 50 satang per month,” she said.
“Furthermore, the pawning limit for each customer will be raised to a maximum Bt100,000.”
To be eligible for the flat rate interest, applicants who are students are required to present their student ID card, while applicants who are parents must present a student ID of their children as well as evidence (birth certificate or house registration) proving they are the parent.
For more information, contact 02-158-0042-4.