Pawn Value is less than or equal to 2,000 Baht, interest is 2% / month.
Pawn Value is greater than 2000 Baht, interest is 2% / Month for the first 2,000 Baht of the Pawn Value and 1.25% / month for any remaining Pawn Value.
HOW TO CALCULATE (Example)
Pawn Loan Value (PLV) = 2,000 or Less:
If the items Pawn Loan Value is less than or equal to 2,000 Baht, multiply the Pawn Loan Value by 2% (.02). That is the interest for 1 month.
Pawn Loan Value (PLV) = Greater than 2,000 Baht:
- If the items PLV is greater than 2,000 Baht, subtract 2,000 Baht from the PLV to get the Remainder (ex: 10,000 – 2,000 = 8,000 Remainder)
- Multiply 2,000 Baht by 2% (0.02) = 40 Baht
- Multiple the Remainder (ex: 8,000) by 1.25% (0.0125) = 100 Baht
Example: One (1) Month interest on 10,000 Baht Pawn Loan equals 140 Baht.