Connect with us


Pawnshops cut interest rates for poor parents



Pawnshops cut interest rates for poor parents | Thaiger

PHUKET: Phuket’s three government pawnshops have reduced interest rates on loans until August 15 to help poor parents raise money for school fees. Phuket City Municipality Pawnshop Manager Phuwadon Chinnupathum told the Gazette that the Department of Local Administration in Bangkok ordered the reductions, which came into effect on April 1 and will continue until August 15. During that time, all loans of 3,000 baht or more will incur 1% interest a month on the amount borrowed. Before the interest cuts were ordered, loans of 3,000 baht or more were charged 2% interest on the first 2,000 baht plus 1.25% on each additional 2,000 baht. Interest on loans of less than 500 baht will remain at 0.75% monthly, while loans of 500 baht to 3,000 baht will continue to be charged 1% interest a month. K. Phuwadon explained, “There are a lot of fixed-income families who see their expenses go up during this period because they have to pay for school books, uniforms and admission fees. “We usually have about 100 customers a day, but at the beginning of the new academic year it reaches as high as 400,” he added. K. Phuwadon said that despite competition from new government pawnshops in Patong and Cherng Talay, the Phuket City shop still had the largest number of clients and made 10.9 million baht in profit last year. Adul Lumrassami, Manager of the Cherng Talay Municipality Pawnshop, told the Gazette that its average of 30 clients a day had increased by 70-80% as this academic year began earlier this month. Business is also booming at Patong Municipal Pawnshop, where Manager Chalerm Koompani said that the number of clients had increased by about 25% on last year. Foreigners, who make up about 10% of the Patong shop’s client base, are welcome to pawn goods as long as they present a passport, he said.


Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Phuket30 mins ago

Phuket officials say no human trafficking cases found in island province

Hong Kong1 hour ago

Hong Kong seizes 20 million baht of heroin hidden in Thai kickboxing pads

Crime2 hours ago

Nigerian and Vietnamese couple found dead linked to drug trade

Sponsored7 hours ago

BKFC THAILAND 3: Moment of the truth set for September 3

Thailand2 hours ago

Thailand workers could earn over 100,000 baht in Saudi Arabia

Chon Buri3 hours ago

Mountain B victims to be compensated by Thailand govt

Pattaya3 hours ago

Free noodles for beach cleaners after Pattaya Music Festival mess

Join the conversation on the Thaiger Talk forums today!
Thailand3 hours ago

CCSA to give thumbs up to 4am licensing in Thailand next week

Tourism4 hours ago

Lots of Hong Kongers are searching for flights to Bangkok

Chon Buri5 hours ago

Death toll of Mountain B fire rises to 17

Economy6 hours ago

Bangkok No.1 in Asia-Pacific for MICE destinations

Coronavirus (Covid-19)6 hours ago

Covid-19 “hospitel” isolation in Thailand to end September 1

Phuket6 hours ago

Upcoming beach festival to boost Phuket’s surf tourism amidst monsoon season

Travel6 hours ago

Italian restaurants in Koh Samui for pasta, pizza, red sauce, and everything else

Road deaths6 hours ago

UPDATE: Chon Buri police couldn’t find victim of car crash… on the back seat

Travel6 hours ago

Beachfront restaurants in Phuket to dine with a view (2022)

Thailand11 months ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand1 year ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism1 year ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket1 year ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism1 year ago

Phuket Thai food treats you need to try | VIDEO

Thailand1 year ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism1 year ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11