CVM Pawnshop in the Philippines
Carmelita Vicencio Manlapaz and her family started out as palengke seafood sellers in the 70s. By pawning her wedding rings, along with other valuables, she was able to make ends meet and eventually own a business. When her seafood business grew and became a success, she established CVM Pawnshop and Money Changer Corp. so she […]
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Carmelita Vicencio Manlapaz and her family started out as palengke seafood sellers in the 70s. By pawning her wedding rings, along with other valuables, she was able to make ends meet and eventually own a business. When her seafood business grew and became a success, she established CVM Pawnshop and Money Changer Corp. so she could help others achieve their dreams, just like she did during her palengke years.
The first branch opened to the public on January 16, 2005, in Rosario, Pasig City, quickly followed by a second branch at the New Taytay Public Market in Rizal. Now with 100+ branches nationwide, CVM Pawnshop has become the country’s top gadget pawnshop best known for its Masarap Kausap service.
Pawning
Interest Rates: 3% – 13% per month
Pawn:
– Cellphone
– Laptop, Tablet, Macbook
– DSLR, GoPro
– Smart Watch
– Hard Drive
– PS Vita, Nintendo 3DS
– Jewelry
The service charge: 1% of the principal loan, but not exceeding Php5
Payment terms: Up to 4 months
Approval time: Up to 2 hours
Calculate loanProduct Features
| Min. financing amount | ₱10000 |
| Max. financing amount | Up to ₱100000 |
| Min. loan tenure | 1 months |
| Max. loan tenure | 3 months |
| Interest rate | 3% - 13% |
| Approval duration | Up to 24 hours |
| Debt consolidation | Yes |
Example of calculating interest and loan payments
| TERM | 1 months | 2 months | 3 months | 4 months | 3 months |
| LOAN AMOUNT | ₱50000 | ₱50000 | ₱50000 | ₱50000 | ₱50000 |
| FEE | 3% | 3% | 3% | 3% | 3% |
| INTEREST AMOUNT | ₱125 | ₱250 | ₱375 | ₱500 | ₱375 |
| TOTAL REPAYMENT | ₱50125 | ₱50250 | ₱50375 | ₱50500 | ₱50375 |
Other Requirements
| Need to open linked banked account? | Yes |
FAQ
The Bank does not accept household appliances, phones, or designer bags as collateral, unlike some Pawnshops. In addition, the Bank has interest rates-3% or 4% per month, and in pawn shops, interest rates usually range from 2% to 4% per month and the Bank requires proof of solvency.
The maximum term is 4 months.
To obtain a Pawn loan, you need a document proving your identity and the jewelry left as a collateral. No other documents are required.
The Pawnshop will sell your jewelry.
Contacts
| Full company name | CVM Pawnshop |
| Address | 1192 A.H. Lacson st., corner Dapitan st., Sampaloc, Manila |
| Phone number | (02) 8706 5326 (0943) 142 4125 |
| askCVM@cvmpawnshops.com | |
| Social networks |
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