MUNICIPAL pawnshops around Thailand have seen a big increase in customers as the annual Songkran holiday drew to a close yesterday, the Thai-language daily Matichon reported today (April 18).
In the central Thai province of Chai-nat, the municipality-owned pawnshop has 60 million baht in cash on hand to serve the locals who have spent most of their money on the long holiday.
These pawnshops charge a low interest rate of 25 satang per month (100 satang equals one baht in cash) for a loan of no more than 5,000 baht. The interest rate goes up to one baht for a loan of no more than 50,000 baht.
Top: A woman pawning a valuable item at a municipal pawnshop. Photo: Matichon
By Songpol Kaopatumtip