No. At Ar Rahnu,​ we serve ALL customers, regardless of race or religion.

We accept jewellery and gold ornaments only. We have a general preference for gold as collateral because its purity can be easily determined, thus minimising the risk of mispricing.

Pawnbrokers are allowed to charge storage fees of not more than 1.5% per month or part thereof on the value of the pawned item.

Interest Fees:

• Charged by conventional pawnshops and lenders

• A percentage of the loan amount that increases over time

• Profit for the lender based on the amount borrowed

• Not allowed in Islamic finance due to the prohibition of usury (riba)

Storage Fees (as used by Ar Rahnu):

• A flat fee for safekeeping the collateral item

• Based on the value of the item, not the loan amount

• Covers the cost of securely storing and insuring the item

• Allowed in Islamic finance as it's a service charge, not interest

1. Eligibility: Must be 18 or older. ID is always required. If pawning for someone else, bring:
   

   • Your own ID

   • The item owner's ID

   • A letter of authorisation from the item owner

2. Valuation: Appraiser examines and estimates value of item (typically gold, jewellery, or watches).

3. Loan Offer: Based on second-hand resale value.

4. Documentation: Provide personal ID to complete transaction.

5. Anti-Money Laundering Checks: Required by law.

6. Pawn Ticket: Contains item description, loan amount, pawner's details, redemption period (6 months), and monthly storage fees (up to 1.5%).

7. Redemption: Redeem or renew within 6 months to avoid forfeiture.

8. Communication: Update pawnshop if your contact details change.

9. Personal Data: By pawning, you agree to allow data collection and storage related to the transaction.

Process typically takes 5-10 minutes. Valuation is for reference only; pawnshop isn't obligated to purchase at this price.

Requirements:

• Pawn ticket

• Proof of identity

Options:

1. Full Redemption: Pay full loan and fees, retrieve all items.

2. Partial Redemption: Withdraw part of pledge, pay portion of loan and fees on original amount.

3. Renewal: Pay storage fees to extend redemption period by 6 months.

4. Partial Renewal: a. Pay fees and reduce loan amount b. Pay fees and increase loan amount (if possible)

Note: Additional charges apply if redemption period has lapsed.

Additional charges will be imposed. You can still redeem by presenting the pawn ticket and ID, then paying the principal amount and all fees due.

A S$10 processing fee is charged for each pawn ticket replacement.

Yes, you can sell your pawn ticket to the pawnbroker.

Pawnbrokers are insured. If the item is destroyed, damaged, or lost, they'll pay the pledge's value (assumed to be 50% more than the loan amount) minus the loan and storage fees due.

Pawning fake, counterfeit, or stolen items is an offense. Pawnbrokers can detain suspicious persons and items, handing them over to the police for investigation.

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After seizure, the court will determine ownership and decide on delivery to the rightful owner, with or without payment to the pawnbroker.

A S$10 processing fee is charged for serving notice. The true owner must provide evidence (e.g., police report). Redemption may be delayed for 3+ months, pending legal proceedings.