Pawnshops bustling with cash-strapped parents ahead of new school term

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Si SA KET, (NNT) – Government pawnshops across the country have prepared millions of baht in cash as parents need money to buy their children school supplies before the new school year.

In Si Sa Ket, a provincial pawnshop manager, Sanan Utta-amat, said 150 million baht in cash has been set aside as up to 500 people are expected to visit the shop during this time.

To cater to the high demand for cash, the pawnshop has lowered its interest rate to 25 satang a month for every 100 baht for a maximum loan of 5,000 baht while the rate will increase to 75 satang for a loan higher than 5,000 baht.

In Yala province, most people, who have visited the provincial pawnshop, came to redeem their items. The shop has also set aside 60 million baht to accommodate growing demand for cash.

Parents and their children can be seen at a market located in Yala’s municipality buying school supplies and school uniforms. Many of them traveled from nearby districts. Prices of uniforms and other items remain relatively stable.