We would like to inform our customers that as of 06.11.2023, the lending conditions of our pawnshop have changed, which can be viewed by clicking on the following link.
This Announcement has been in force since 06.11.2023
This Announcement refers to the pawn loans and their prolongation after the date above.
Click here for the new business rules and regulation (Hungarian form)
Click here for the new announcement
Click here for the old business rules and regulation (Hungarian form)
Click here for the old announcement
This Announcement applies to pawn loans and prolongations after 06.11.2023
1./ Fees, charges, and interests connected to a pawn loan
Interest rate:
In case of paying back the loan before the maturity, from disbursement to the date of redeeming the pawn, the Lender is entitled to calculate the interest according to the Business Rules for the duration of the loan. The amount of interest rate is included in the Announcement and the pawn ticket. The interest rate is based on the loan specified in the Contract or the unpaid part thereof. The interest rate does not change during the term of the loan.
Calculation of interest rate:
amount of the loan x yearly interest % x amount of interest days
36 500 days
Handling charges:
The Lender is entitled to a one-off management fee at the time of disbursement of the loan for the performance of the tasks related to the provision of the loan, including the credit assessment fee and the fee for evaluation of the collateral, at the rate specified in the Announcement. The handling fee is a one-off payment by the Customer which will be received by the Lender. Based on the amount of the loan which has been specified in the Contract; the handling fee is calculated at Contract signing. It is charged on the day of the disbursement of the loan. The measures of the handling fee:
Late interest:
In case of delay, the Lender shall be entitled to receive the late interest from the day after maturity until the day of redemption of the pawn.
Based on the specified amount written in the Contract:
Handling surcharge:
It can be charged after the expiration of the term until the expiration of the grace period, the grace period is 1. day and then 7 times a day up to 4 times. Based on the contract amount specified in the contract, the rate of 2.8% on the first day of the grace period, 1.5% on further due days.
The rate of handling fee charged for preferential loans for VIP categories is located in the 8th point of the announcement.
Renewal fee:
In case of prolongation of the Contract, the Lender is entitled to receive a one-off prolongation payment which has been defined in the Announcement. The renewal fee is based on the arrangement which has been directed to the prolongation of the maturity in the Contract. The rate of the fee at 30, 45, 90 days is 3%.
At prolongation, the renewal fee is the updated applicable amount at the time of extension of the Contract. The due date for the renewal fee is the date of the extension of the Contract. An extension is considered a new placement, so a handling fee will be charged at the time of placement.
Charge of compulsory sale:
The Lender charges a cost for compulsory sale on items based on their selling price. The cost of the sale includes the cost of any melting, coloring, cleaning, repair, grinding, photography, participation in the auction, advertising, or filling forms. The cost for compulsory sale is 30% of the product’s price or maximum the difference between the selling price and the creditor's claim (loan + interest + default interest + management fee).
According to the duration, the maturity of the pawn loan can be requested as:
Based on the maturity of the pawn loan, the grace period is the following:
Scrap gold, gold investment, gold or silver coins, gold or silver platinum jewelry and watches, and other silver assets.
a., scrap gold
b., assets from precious metal or other compounds (gold, silver, and platinum jewelry and watches)
c., investment gold bars & coins
d., silver assets
The maximum amount of pawn loan that can be requested depends on the following:
In the case of a.) the maximum rate is 90% of the evaluated collateral.
In the case of b.), c.) the maximum rate is 85% of the evaluated collateral.
In the case of d.) the maximum rate is 80% of the evaluated collateral.
The Client can request a lower amount for the loan. Although the actual evaluation must be indicated as obligatory.
The minimal amount is 2000 Ft.
The maximum amount on one pawn ticket is 15.000.000 Ft.
The maximum amount for one Client is 100.000.000 Ft.
The appraiser can decide with the consent of the account manager above 1 million Ft
In the case of 20 million Ft, the consent of the director is needed.
At the customer's request, the loan can be extended before or during the grace period. The extension is possible only when the interests, the handling fee, any late interest, and the late management surcharge have been paid. There is a one-off renewal fee for extending your loan.
The rate of the extension fee is 3% for a 30-, 45-, 90-day loan, which must be paid at the same time as the extension.
Based on the judgment of the management, it is possible to offer discounted terms to well-known, well-paying customers.
VIP1: for investment gold,
VIP2: In case of a loan amount over HUF 1,000,000
VIP3: Director's consent required
Maturity |
30 nap |
45 nap |
90 nap |
Amount of the loan |
50 000 Ft |
50 000 Ft |
50 000 Ft |
One-off handling fee rate at disbursement |
1,75% |
2,60% |
5,20% |
Received amount at disbursement |
49 125 Ft |
48 700 Ft |
47 400 Ft |
Annual interest rate |
18,5% |
18,5% |
18,5 % |
Sum of interest at the end of maturity |
760 Ft |
1 140 Ft |
2 281 Ft |
Amount that has to be repaid |
50 760 Ft |
51 140 Ft |
52 281 Ft |
Complete fee of the loan |
1 635 Ft |
2 440 Ft |
4 881 Ft |
APR for 365-day year |
48,9% |
48,7% |
48,8% |
APR for 366-day year |
49,1% |
48,8% |
49,0% |
in case of redemption on the date of expiry of the grace period
Maturity |
30 nap |
45 nap |
90 nap |
Amount of the loan |
50 000 Ft |
50 000 Ft |
50 000 Ft |
Annual interest rate |
18,5% |
18,5% |
18,5% |
Sum of interests at the end of maturity |
760 Ft |
1 140 Ft |
2 281 Ft |
APR for 365-day year |
48,9% |
48,7% |
48,8% |
APR for 366-day year |
49,1% |
48,8% |
49,0% |
Late interest (yearly) |
24,5% |
24,5% |
24,5% |
Amount of late interest according to compulsory sale |
1 007 Ft |
1 007 Ft |
1 007 Ft |
Handling extra fee (from the 1st to the 7th day) |
2,8% |
2,8% |
2,8% |
Handling extra fee (from the 8th to the 30th day) 4*1,5% |
6% |
6% |
6% |
Handling extra fee on the day of the maturity of the grace period |
4 400 Ft |
4 400 Ft |
4 400 Ft |
The amount to be repaid |
56 167 Ft |
56 547 Ft |
57 688 Ft |
In case of extension on the maturity day
Maturity |
30 days |
45 days |
90 days |
Amount of the loan |
50 000 Ft |
50 000 Ft |
50 000 Ft |
One-off handling fee rate at disbursement |
1,75% |
2,60% |
5,20% |
One-off handling fee at disbursement |
875 Ft |
1 300 Ft |
2 600 Ft |
Annual rate |
18,5% |
18,5% |
18,5% |
Amount of rate at the end of maturity |
760 Ft |
1 140 Ft |
2 281 Ft |
Rate of prolongation |
3,00% |
3,00% |
3,00% |
Cost of prolongation |
1500 Ft |
1500 Ft |
1500 Ft |
At prolongation must be paid |
3 135 Ft |
3 940 Ft |
6 381 Ft |
APR for 365-day year |
48,9% |
48,7% |
48,8% |
APR for 366-day year |
49,1% |
48,8% |
49,0% |