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Pawn loan

VCB Bank is the sole financial institution in Suriname owning pawn outlets where gold jewelry can be pawned out to take on a cash loan. Every VCB branch has its own pawn outlet.  So you can easily and quickly have money available when needed, without having to sell and loose your precious jewelry. After a specific term, you just take them out of pawn.

On auctioning day, the cashier desks of the Pawn Shop at the head office and branches at Saramacca, Lelydorp and Latour, close at 10.30 hrs. The start hours of the auctions are established at 12.30 hrs. In Nickerie, the cashier desk of the Pawn Office closes at 10.00 hrs.

Required documents to take on a pawn credit?

  • Valid proof of identity (ID, passport or drivers license)
  • All types of (yellow) gold jewelry of minimally 12 carats.

 Who can apply for a pawn credit?

  • All persons with the minimum ageof 18 years, who own gold jewelry.

 Where?

  • At the pawn outlet department of every VCB branch.

 General information

  • Customers report at a separate counter for pawn credits (loans), in complete privacy.
  • You get a receipt for obtaining your credit (loan sum).
  • You determine yourself which portion of the loan sum you wish to withdraw.
  • You do not have to withdraw the entire loan sum.
  • Upon receiving your loan amount, you get a pawn receipt.

This pawn receipt is NON-TRADABLE!

Benefits of a pawn credit

  • You (immediately) have cash available.
  • You are granted a period of (6) months in which you are able to take your jewelry out of pawn or pay the interest.
  • You have the option to fulfill your interest payment monthly. Upon each interest payment, your pawn loan is extended with another six (6) months.

You are not compelled to pawn out your credit on the expiry date on the pawn receipt.

You can also do so on an earlier date. Extra interest is charged upon payment after the expiry date.

Lesser amount

Repayment of the loan amount in specific terms is possible. The amount of the loan sum becomes less as well as the payable interest amount.

Example

Loan sum = SRD 500

1st monthly interest = SRD 20

The interest amount is SRD 20 and the deductable amount is SRD 100

The loan sum is now SRD 400.

The following month, an interest is calculated over the remaining loan sum (SRD 400).

 As such, you can pay a monthly deductable amount (which you can determine yourself). In this way, you can easily pay off the loan amount taken on your jewelry.

 Extension of payment

In case you failed to pay the interest within six months and your jewelry was put up for auction, you can request an extension of payment. You will receive an extension of one month.

 Raising your pawn credit

Raising your pawn credit is possible in case the entire loan sum was not withdrawn at pawning of the jewelry in question.

 Extra service

  • In case you have any more queries, please contact the pawn outlet of any VCB branch.
  • An overview of our auction days is available on our website.
  • Jewelry put on auction can be inspected on Mondays and Tuesdays, prior to the day of the auction. Auctions are usually held on the 1st and 2nd Wednesday of the month.

 Beware

  • Please beware of the expiry date on your pawn receipt (see example)
  • Your pawn receipt must be signed and provided with a stamp
  • The surplus proceeds of jewelry sold on the auction, are available to the rightful claimant, 2 weeks after the auction.

 

Head Office

Waterkant 104
PO Box 1804 Paramaribo
Phone +597 472616
Telefax +597 473257
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.