Section 7: Interest chargeable by pawn broker.

The Telangana Pawn Brokers Act, 2002.State Act of Telangana · Act 6 of 2002

(1) No Pawn Broker shall charge interest on any loan at a rate exceeding by more than two per cent the rate charged by commercial banks on similar loans granted by them.

(2) No Pawn Broker shall demand or take any gifts, articles, commission, charges or amounts under any name whatsoever from the pawner while advancing a loan in terms of this Act, other than the interest.

(3) The total interest payable on a loan shall not exceed the quantum of the principal.

Where this provision sits

Act	The Telangana Pawn Brokers Act, 2002.
Section	7
Marginal note	Interest chargeable by pawn broker.
Jurisdiction	State of Telangana
Status	In force as published by the source

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