Singapore legislation
Schedule 2
Schedule 2
Permitted profit and fees
SECOND SCHEDULESection 50Permitted profit and fees
1. A pawnbroker must not take profit on a loan at a rate of more than 1.5% per 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 only the following fees:
(a)
for an application under section 66 by a person claiming to be entitled to redeem a pledge but not having a pawn ticket — $10;
(b)
for a notice under section 67 by a person claiming to the rightful owner of goods wrongfully pawned — $10.