Raquel Pawnshop in the Philippines

Raquel Pawnshop, Inc. is a family owned business that was established on November 5, 1993. The first pawnshop rose at the heart of Lucena City where the original textile business of Raquel family grew. The branches expanded and Raquel agreed to form a corporation which paved the way for RAQUEL PAWNSHOP, INC. In its early […]

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129 Merchan Street, Brgy. 6, Lucena City, Quezon
SMART - 0999-349-3812 / GLOBE- 09276865-697 / SUN - 0923-8088-156, inquiry@raqulpawnshop.com
Interest rate 2% - 10%
Loan tenure from 1 to 3 months
Approval duration Up to 24 hours
Min. monthly income1

Raquel Pawnshop, Inc. is a family owned business that was established on November 5, 1993. The first pawnshop rose at the heart of Lucena City where the original textile business of Raquel family grew. The branches expanded and Raquel agreed to form a corporation which paved the way for RAQUEL PAWNSHOP, INC.
In its early years of existence Raquel Pawnshop, Inc. served as a money lending company in exchange of personal property which is within the scope and limitation of Presidential Decree No. 114 . The first few branches were established in nearby towns of Quezon Province and Laguna.
In the year 2006 launched the “renew anywhere” service – the first automated and network based transaction ever-made in the realm of pawnshop industry.

Pawning

Interest Rates: 2% – 10% per month
Pawn:
– gold, diamond, and platinum jewelry
– watches
– cellphones
– laptop computers
– designer bags.
The service charge: 1% of the principal loan, but not exceeding Php5
Payment terms: Up to 3 months
Approval time: Up to 2 hours

Calculate loan

 

Loan Calculator

%
Monthly payment
₱ 888.49
Total overpayment
₱ 661.85
Total
₱ 10661.85

As years piled up additional products and services were offered by RPI and these are as follows:
• Remittance (Peraquel Express, Western Union Money Transfer, CebuanaLhuillierPeraPadala, Transfast)
• MONEY CHANGER (selected branches)
• Pawning of gadgets such as cell phone, DSLR camera, laptop, smart phones and tablets
• Auctions jewelries and gadgets (accepts credit card on Jewelry purchases)
• Pawning of luxury bags and watches in selected branches
• Accident Insurance Plan – insurance benefit for the Pawnees such as Accidental Death Benefit, Permanent Total Disablement Benefit, Permanent Partial Disability Benefit and Unprovoked Murder & Assault Coverage. Insurance worth P20.00 equivalent P41, 000.00 benefit with 6 months coverage.
• Bills Payment
• Ticketing
• Loading (E-load & e-pins)
• Gcash Cash In
• Scan to Pay via Gcash
• BPI Globe BanKo

Product Features

Min. financing amount ₱10000
Max. financing amount Up to ₱50000
Min. loan tenure 1 months
Max. loan tenure 3 months
Interest rate 2% - 10%
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 ₱25000 ₱25000 ₱25000 ₱25000 ₱25000
FEE 2% 2% 2% 2% 2%
INTEREST AMOUNT ₱42 ₱83 ₱125 ₱167 ₱125
TOTAL REPAYMENT ₱25042 ₱25083 ₱25125 ₱25167 ₱25125

Fees & Charges

One time setup
Processing fee one percent (1%) of the principal loan, but shall not exceed five pesos (P5.00)

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 3 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
Address 129 Merchan Street, Brgy. 6, Lucena City, Quezon
Phone number SMART - 0999-349-3812 / GLOBE- 09276865-697 / SUN - 0923-8088-156
E-mail inquiry@raqulpawnshop.com
Social networks

User rating

Reviews

5 months ago

Raquel Pawnshop polite and attentive managers!

Raquel helps out when it is very difficult to pay your short-term obligations. I am grateful. that Raquel exists to satisfy this need.

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