Commercial Bank

Commercial Bank advances are on 06 months and 12 months duration.

For six months we advance Rs.33,000/=(22K) and Rs.35,500/= (24K). Twelve months advances are Rs.30,000/= (22 K) and Rs.32,000/=( 24K). Our rate of interest is 14% for all categories. We don't recover stamp duty or letter charges etc from customer.

Pawnbroker

From Wikipedia, the free encyclopedia

This article is about the occupation of a pawnbroker. For the 1960s novel and film, see The Pawnbroker.

A pawnbroker is an individual or business (pawnshop or pawn shop) that offers secured loans to people, with items of personal property used as collateral. The word pawn is derived from the Latin pignus, for pledge, and the items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral.

If an item is pawned for a loan, within a certain contractual period of time the pawner may purchase it back for the amount of the loan plus some agreed-upon amount for interest. The amount of time, and rate of interest, is governed by law or by the pawnbroker's policies. If the loan is not paid (or extended, if applicable) within the time period, the pawned item will be offered for sale by the pawnbroker/secondhand dealer. Unlike other lenders, the pawnbroker does not report the defaulted loan on the customer's credit report, since the pawnbroker has physical possession of the item and may recoup the loan value through outright sale of the item. The pawnbroker/secondhand dealer also sells items that have been sold outright by customers to the pawnbroker or secondhand dealer.