The following is the California law on basic interest charges for pawnshops as of January 1, 2002. The actual law can be found in California
Financial Code Section 21200.5. The description of the law below has been rewritten in laymen's terms. A 2.5% interest charge per month on the
principle (loan amount) of the loan, including, but not more than $225. A 2% interest charge per month on a principle loan amount more than $225,
including, but not more than $900. A 1.5% interest charge per month on a principle loan amount in excess of $900, including, but not more
than $1,650. A 1% interest charge per month on a principle loan amount from $1,650 to $2,499.00.
PawnZone Corp. can set the interest rate for loans more than $2,500.00. One month's interest may be charged for any part of the month in which a
pawned item is redeemed.
90 Days Loan Estimator
You can use this estimator to calculate loans for the amounts of less than $2,500 for the period of 90 days. Loans of $2,500 and more - all
interests and fees are as agreed upon.
Input interested amount. The amount has to be more than $0 and less than $2,500. Please use digits only (no dollar, coma or period signs).
