Loans Against Valuables
If you have a valuable item that doesn’t fit in any of the other categories, it’s possible you could use the item as collateral for a loan. When applying online, please supply as much information about the item as possible to assist us in making an evaluation. We offer the best rates for loans against valuables.
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APR & Loan period
Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months.
Collection
All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.
Renewals
Loans are not renewed automatically. Loans are renewed by agreement on the same terms as the original loan.
Non-payment
Non-payment will result in the ownership of the borrower’s pledged asset being transferred to the lender with no further impact on the borrower (including fees and credit bureaux).
Illustrative example
Client borrows P10,000 for 90 days.
| Loan Amount | Repayment Terms | Monthly Repayment | Total Repayment | Initiation Fee | Monthly Fee (Interest + Service charge) | APR |
|---|---|---|---|---|---|---|
| P10,000 | 3 months | P560 | P12,370 | P1,000 | P560 | 60% |