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1. What are the criteria to pledge at Soon Yi pawnshop?
  Anyone above 16 who has valuables to pledge in exchange for cash, can visit Soon Yi Pawnshop Pte Ltd to solve their financial needs.
2. What are the items accepted by Soon Yi pawnshop?
  We accept all used gold, certified diamonds, branded jewellery and luxury watches.
3. What are the procedures at Soon Yi pawnshop?
  Bring along your valuables and visit us at our stores and we will provide you with our highest cash valuation. Upon your acceptance of our valuation, we would require your identity card for the pawnbroking procedures and if the pledged amount of your valuables exceed $200, and original purchase receipt or a Guarantor for your pledge is required by law. Thereafter, our staffs will hand over to you the cash instantly with a pledge ticket.
4. What is the interest rate charged by Soon Yi pawnshop?
  We offer a monthly interest rate of 1.5% (whole or part thereof). Assuming the cash loan given to you is $100, when you redeem it 6 months later, the interest payable will be $9 base on the calculation below:

6 months x 1.5% = 0.09 x $100=$9
5. How different is Soon Yi pawnshop compared to bank loan?
  Anyone above 16 who has personal valuables can come to Soon Yi pawnshop. There is no minimum income requirement or application form. You can redeem your valuables anytime before the expiry date of your pledged ticket; and It is renewable after 6 months by paying the outstanding interest.
6. Is there a Installment Plan?
  Yes . Soon Yi Pawnshop offers a installment plan for your pledged items .You can pay back your loan in installments. If after 4 months into your pledge, you have excess cash and would like to pay back a portion of your loan, you can do so. A new pawn ticket will be issued to you with the new loan amount reflected, and this pawn ticket will then be valid for the next 6 months
7. Are my valuables pledged to Soon Yi pawnshop kept in a safe place?
  We have a reliable 24-hour monitoring security system in our pawnshops for the safekeeping of your valuables as well as strong safes so as to ensure our customers that their precious items are safely-kept.
8. How long is the pledge period?
  The maximum pledge period is 6 months from the date of your pledging. However, you may choose to renew your pledge ticket or redeem your pledged items anytime during the 6 months period.
9. What if the ticket expiry after 6 month?
  In the case of customer expired tickets,our staffs will try our very best to contact them via phone calls/reminder letter before the auction date of the pledged ticket as we believe that those items might be sentimental values to our customers.
10. What happens if any of our customers can't redeem or forget to renew their pledge ticket after the 6-month period?
  The Registry Pawnbroker Act requires the pawnbrokers to place the unredeemed pledges on auction and any excess cash from the auction will be returned to the customer.
11. What happens if my unredeemed pledged article is auctioned off at a price higher than the cash loan given to me?
  The cash surplus will be given back to the pawners accordingly
12. How do I know if my item was auctioned off at a surplus?
  If you are entitled to a surplus, we will write to inform you of it within 10 days from the auction date. You can claim your surplus directly from us anytime within 4 months from the date of the auction with the surplus letter, original Identity card and pawn ticket.
13. What should I do if I lose my pledge ticket?
  If you lose your pledge ticket, you can visit our shop with your original identity card to get a Lost Ticket Declaration form. Thereafter, you are required to submit the Lost Ticket Declaration personally at Commissioner for Oaths or a Notary Public for endorsement before you return to our pawnshop to renew or redeem your items.