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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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 loanAs 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 |
| inquiry@raqulpawnshop.com | |
| Social networks |
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User rating
Reviews
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.
