Pledged Loan Demand Grows Ahead of Ramadan

State-owned pawnshop Pegadaian sees that the peak demand for pledged loans will take place early in the month of Ramadan which is usually used by customers as venture capitals. Pegadaian President Director Sunarso said that gold covers 90 percent of products that are pledged by these customers.

“To finance a business early into the month of fasting, even though it is Ramadan, the demand for food and beverages increases. This is why people look for venture capitals at Pegadaian,” said Sunarso at the Pegadaian office in Kebayoran Baru on Tuesday, April 17.

Furthermore, the trend towards pledged loans would usually drop one week before Eid al Fitr celebration when the public has the funds needed to redeem a loan. The trend would increase again after the holidays if they decide that they would need to venture yet another business.

Based on last year’s Eid al Fitr and Ramadan holidays, Sunarso saw that the increased value of transaction can reach 2-4 percent.

Meanwhile, on a normal day, Pegadaian would usually serve around 125,000 transactions each day throughout Pegadaian outlets with an average of Rp5 million to Rp6 million per transaction.


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