Pawnbrokers Act 2015 - Singapore Statutes Online

SECOND SCHEDULE

Sections 50 and 82(1)

Permitted profit and fees

1. A pawnbroker’s profit on a loan must not exceed —

(a)	1.5% of the total amount of the loan for each whole month of the term of the loan; and
(b)	if the term of the loan cannot be divided into whole months, 1.5% of the total amount of the loan for the balance of the term that is part of a month.

2. A pawnbroker must not take, or continue to take, any profit on a loan 2 months after the expiry of the redemption period.

3. A pawnbroker must not take any profit for any period that the pawnbroker refuses to deal with a pledge upon being served a notice under section 67.

4. A pawnbroker may charge a fee of $2 for issuing a pawn ticket under section 49, or under section 49 read with section 51 or 55, but only if —

(a)

the pawn ticket is not issued only for any of the following purposes in relation to an earlier pawn ticket:

(i)

changing —

(A)	the pawner’s address, telephone number or email address; or
(B)	the name or address of the pawnbroker’s business;

(ii)

correcting any error in the particulars prescribed for the purposes of section 49(2); and

(b)

the pawnbroker offers any of the following modes of payment for the fee (even if the mode of payment is not used by the pawner):

(i)	by charging to a debit card;
(ii)	by an electronic funds transfer to a bank account;
(iii)	by a transfer of e-money within the meaning given by the Payment Services Act 2019. [S 986/2022 wef 01/01/2023]

5. A pawnbroker may charge a fee of $10 for an application under section 66 by a person claiming to be entitled to redeem a pledge but not having a pawn ticket.

[S 986/2022 wef 01/01/2023]

6. A pawnbroker may charge a fee of $10 for a notice under section 67 by a person claiming to be the rightful owner of goods wrongfully pawned.

[S 986/2022 wef 01/01/2023]

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