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IS M Lhuillier Pawnshop LEGIT?
M Lhuillier Pawnshop is a legitimate pawnshop operator in the Philippines. With more than 2,500 branches established nationwide and an online pawning service, M Lhuillier has become the leading pawnshop in the country. It offers a variety of financial services such as pawning services, loan facilities, money remittance, bill payments, and foreign exchange.
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M Lhuillier is regulated by the Bangko Sentral ng Pilipinas (BSP) or Central Bank of the Philippines, ensuring that it meets all necessary standards for security and reliability. It has also implemented its own set of safety protocols to protect the interests of both customers and employees. These measures include enhanced security features in its shops and online services.
General Information
M Lhuillier Pawnshop is one of the leading pawnshop operators in the Philippines, with more than 2,500 branches established across the country. Founded in 1998 by Michel Luillier, today it offers a wide range of financial services such as pawning, loan facilities, money remittance and foreign exchange. It also provides online services through ML Kwarta Padala and ML Wallet apps.
M Lhuillier is regulated by the Bangko Sentral ng Pilipinas (BSP) or Central Bank of the Philippines, ensuring that all its operations remain safe and reliable for customers. M Lhuillier has taken additional protective measures to protect both customers and employees from any form of fraud or theft. All branches have implemented enhanced security features such as CCTV surveillance and 24/7 guards to ensure that all transactions are secure.
To provide convenient services for its customers, M Lhuillier has diversified its financial products throughout the years to provide options for different needs. Today it offers several types of loans including Short Term Loans, Medium Term Loans and Long Term Loans with flexible repayment terms ranging from 6 months up to 72 months. It also provides cash advances that can be used for bill payments, mobile top-up services, among other things.
In addition to its loan facilities, M Lhuillier also provides a variety of money remittance services such as domestic and international transfers through ML Kwarta Padala which is available online as well as at their physical branches across the country. They also offer foreign currency exchange services which allow customers to buy or sell certain currencies depending on their needs. Furthermore, M Lhuillier operates several pre-paid cards that can be used for payments at different merchants such as SM Supermarket, Robinsons Department Store or 7 Eleven convenience stores in the Philippines.
M Lhuillier has become a trusted partner for Filipinos when it comes to financial needs due to its commitment to safety standards set by BSP regulations together with enhanced security features implemented at their branches throughout the country. With more than two decades in operation since1998, M Lhuillier continues to grow nationally offering convenient and reliable financial services for Filipinos around the world
Services
M Lhuillier Pawnshop offers a range of services to meet the financial needs of Filipinos nationwide. From pawning services and loan facilities to money remittance, foreign exchange, and pre-paid cards, they have everything that customers need.
Pawning services are one of the core services offered by M Lhuillier. Customers can pawn jewelry and other valuables such as gadgets or appliances in exchange for cash. The pawn shop also provides loan facilities with flexible repayment terms ranging from 6 months up to 72 months depending on the customer’s preference.
M Lhuillier has also diversified its financial products by providing money remittance services both domestically and internationally through ML Kwarta Padala which is available online as well as at their physical branches across the country. They also offer foreign currency exchange services which allow customers to buy or sell certain currencies depending on their needs. To make payments more convenient, M Lhuillier operates several pre-paid cards that can be used for transactions at different merchants like SM Supermarket, Robinsons Department Store or 7 Eleven convenience stores in the Philippines.
In addition to these primary financial services, M Lhuillier also provides bill payment solutions for credit card charges, water bills, electricity bills and more so customers can conveniently pay their dues without having to leave their homes or offices. Furthermore, they offer mobile top-up services so customers can recharge prepaid phones wherever they are in the Philippines.
M LHUILLIER ML KWARTA PADALA RATES
ML Kwarta Padala is a domestic and international money transfer system. Individuals can use it to pay for bank transfers, office rent, utilities and other bills.
| Principal Amount | Rate |
| PHP1 – PHP100 | PHP3 |
| PHP101 – PHP200 | PHP6 |
| PHP201 – PHP300 | PHP9 |
| PHP301 – PHP400 | PHP12 |
| PHP401 – PHP500 | PHP15 |
| PHP501 – PHP600 | PHP18 |
| PHP601 – PHP700 | PHP21 |
| PHP701 – PHP800 | PHP24 |
| PHP801 – PHP900 | PHP27 |
| PHP901 – PHP1,000 | PHP30 |
| PHP1,001 – PHP1,500 | PHP45 |
| PHP1,501 – PHP2,000 | PHP60 |
| PHP2,001 – PHP2,500 | PHP75 |
| PHP2,501 – PHP3,000 | PHP90 |
| PHP3,001 – PHP3,500 | PHP95 |
| PHP3,501 – PHP4,000 | PHP115 |
| PHP4,001 – PHP4,500 | PHP125 |
| PHP4,501 – PHP5,000 | PHP130 |
| PHP5,001 – PHP6,000 | PHP148 |
| PHP6,001 – PHP7,000 | PHP158 |
| PHP7,001 – PHP8,000 | PHP168 |
| PHP8,001 – PHP9,500 | PHP188 |
| PHP9,501 – PHP10,000 | PHP198 |
| PHP10,001 – PHP14,000 | PHP210 |
| PHP14,001 – PHP15,000 | PHP220 |
| PHP15,001 – PHP20,000 | PHP260 |
| PHP20,001 – PHP30,000 | PHP290 |
| PHP30,001 – PHP40,000 | PHP320 |
| PHP40,001 – PHP50,000 | PHP350 |
Pawnable Items
Headed to M Lhuillier and wondering what items you can pawn? Have a gander at the list below for some ideas! From jewelry to electronics, there are plenty of options available.
| Portable devices | Wearable devices | Others |
| • Smartphones • Laptops or Macbooks • Tablets or IPads • Cameras • Nintendo console | • (Smart) Watches • Luxurious Sunglasses • Gopro 4 | • Precious Jewelry • Silverware • Musical Instrument • Medical Equipment • Vehicles • Home appliances |
Interest Rate
M Lhuillier Pawnshop provides loan facilities with flexible repayment terms and competitive interest rates. Depending on the loan amount, term and type of loan, customers can enjoy low to moderate interest rates ranging from 1.5% to 20% per month or 18% to 240% per annum.
For short term loans, the interest rates range from 1.5% to 10% per month or 18% to 120% per annum, depending on the amount and term. For medium term loans, the interest rate may reach up to 15% per month or 180% per annum while long term loans can have an interest rate of up to 20% per month or 240% per annum.
In addition to the interest rate, customers are also required to pay a service fee of 1.5% for every loan term or transaction. This is non-refundable and must be paid at the time of releasing the loan amount.
Working Hour
M Lhuillier Pawnshop offers convenient operating hours for customers to access their services. Their branches are typically open every day of the week and operate during regular business hours, from 8am to 5pm. However, some branches may offer extended operating hours on weekends or holidays.
How to take a loan in M Lhuillier Pawnshop?
Taking a loan from M Lhuillier Pawnshop is easy and convenient. Here’s a step-by-step guide on how to do it:
Step 1: Visit any M Lhuillier branch near you. Make sure to bring your valid ID and certifications for the item you will be pawning, if applicable.
Step 2: Fill out the loan form provided at the branch and submit it together with all necessary documents.
Step 3: Wait for the assessment and appraisal of your item and signature on the loan agreement. Don’t forget to pay the corresponding service fee upon receiving your cash loan amount.
Step 4: Once your loan is approved, you can now receive your cash loan amount.
Step 5: Make sure to pay your monthly loans on time in order to avoid additional charges.
Loan parameters in M Lhuillier Pawnshop
M Lhuillier Pawnshop offers a variety of loan parameters to customers, allowing them to tailor their loans to fit their needs. Depending on the amount and term of the loan, customers can enjoy different interest rates and terms.
For short term loans, the interest rates range from 1.5% to 10% per month or 18% to 120% per annum, depending on the loan amount and term. For medium term loans, the interest rate may reach up to 15% per month or 180% per annum while long term loans can have an interest rate of up to 20% per month or 240% per annum.
Example of calculating interest and loan payments
M Lhuillier Pawnshop offers competitive interest rates and flexible repayment terms, making it easy for customers to acquire the cash loan they need. Calculating the interest and loan payments is a simple process as well.
To calculate the total amount of your loan with interest, simply multiply the principal amount borrowed by 1 plus the interest rate for the duration of the loan. For example, if you borrow Php 15,000 from M Lhuillier Pawnshop with a 10% interest rate per annum and a loan term of 1 year, your total amount payable would be:
Total Amount = Php 15,000 x (1 + 0.10) = Php 16,500
To calculate the loan payment for each month, divide the total amount payable by the number of months in the loan term:
Loan Payment = Php 16,500 / 12 Months = Php 1,375 per month.
By following these simple steps, customers can easily determine the total amount they need to pay and their loan payments for each month.
Additional conditions for granting loans
In addition to the interest rate and service fee, customers must also comply with certain conditions in order to qualify for a loan from M Lhuillier Pawnshop. Applicants must be at least 18 years old and legally capable of entering into a contract. They must be Filipino citizens or foreigners who possess valid identification documents such as passport or Alien Certificate of Registration (ACR). Lastly, they must provide proof of residence and additional documents that may be required by the company. Failure to comply with these conditions will result in the rejection of their loan application.
Contacts of M Lhuillier Pawnshop
M Lhuillier Pawnshop is one of the largest pawnshop chains in the Philippines. They have over 1,900 branches offering loans and other services to customers nationwide. Customers can contact M Lhuillier Pawnshop through multiple channels for any queries or concerns they may have.
To contact them by phone, customers can call the M Lhuillier Pawnshop hotline: +63 2 727 1495. Customers may also contact them via email at customerservice_mlpawnshopph@mlfi.com or visit their website to locate a branch near you.
