The Bank will keep gold jewellery as collateral and charge storage wages for storage services. The Bank will provide loans to customers where the amount granted will be evaluated based on the current market price of gold. Total loans and advances however, is lower than the value of the gold depending on the loan margin (%) determined by the Bank and the types of jewellery. Gold jewellery storage period and storage wages are determined in advance and agreed to by both parties (the Bank and the Customer).
Download Product Disclosure Sheet:
Open to all Malaysian citizens and permanent resident
Aged 18 years old to 70 years old
|Type of Gold jewellery||jewellery grade : 999 , 950 , 916 , 875 , 835 and 750 (gemstone excluded)|
Maximum: Up to 80 % of the current market value of jewellery
Market value is based on the type of gold pawned.
|Period of charges and extended period||
May be extended for a period of 6 months should keep wage payments have been paid in full.
* Subject to change
|Disclosures prescribed (%)||Bank will make a re-assessment of the price of a security based on current gold prices. If the amount of the loan balance exceeds the prescribed amount of exposure that is 90 % of the price of gold during the extended time period, the customer is required to pay the difference between the outstanding loan amount and the total exposure to the customer's current loan balance does not exceed the prescribed amount of exposure|
|Payment Method||Pawner can pay this loan in instalments or 6 months or reclaim the goods pawned jewellery in a lump sum on or before the maturity date together with wage savings.|
Fee & Charge
Customers needs to pay monthly storage fee for the service by the Bank of gold jewelery and related charges (if any). Fee to be charged is according to the current value of the pledge (Marhun) when secured.
|Marhun Value||Wage for every RM100|
|RM100 - RM2,000||RM0.50|
|RM2,001 - RM5,000||RM0.60|
|RM5,001 and above||RM0.75|