Free Calculator Tool

Pawn Interest Calculator

Calculate your pawn loan interest, redemption amount, and renewal costs. Compare rates from major pawnshops in the Philippines and plan your repayment.

Loan Details

₱1,000₱100,000
1%5%
1 month12 months

Redemption Amount

₱11,000.00

Total amount to pay to redeem your item

Monthly Interest
₱250.00
Total Interest
₱1,000.00
Principal Amount
₱10,000.00
Renewal Cost
₱1,000.00

Payment Breakdown

  • • Pay ₱11,000.00 to redeem your item after 4 months
  • • Monthly interest: ₱250.00
  • • To renew for another 4 months, pay ₱1,000.00 (interest only)
  • • Effective annual rate: 30.0%

Example Calculations

Real-world pawn loan scenarios

Gold Jewelry

Gold necklace (18K, 20g)

Loan Amount:₱20,000
Interest Rate:2.5%/month
Period:4 months
Total Interest:₱2,000
Redemption:₱22,000

Smartphone

iPhone 13 Pro

Loan Amount:₱8,000
Interest Rate:3%/month
Period:4 months
Total Interest:₱960
Redemption:₱8,960

Luxury Watch

Rolex Submariner

Loan Amount:₱50,000
Interest Rate:2.7%/month
Period:4 months
Total Interest:₱5,400
Redemption:₱55,400

Tips to Minimize Pawn Costs

Compare Interest Rates

Shop around different pawnshops. Even 0.5% difference can save you hundreds of pesos on large loans.

Redeem Early

Redeem your item as soon as possible to minimize interest charges. You don't have to wait the full 4 months.

Pawn Gold Items

Gold jewelry gets the best loan-to-value ratio (70-80%) and lowest interest rates at most pawnshops.

Calculate Before Pawning

Use this calculator to understand total costs before committing to a pawn loan. Plan your repayment strategy.

Avoid Multiple Renewals

Each renewal adds more interest. Try to redeem within the first period to avoid compounding costs.

Keep Your Pawn Ticket

Losing your pawn ticket can result in additional fees and delays. Store it safely with your important documents.

Find the Best Pawnshop Rates

Compare pawnshops near you and get the best loan terms