Effective May 1, 2019 through June 29, 2019

99¢ Loan Finance Charge


Starting May 1, 2019, any NEW pawn loan will be charged only 99¢ in (interest or fee).


That’s right!  Borrow, $50. $100, $500 or $1,000 and your finance charge is only 99¢ for a new loan (pawn).

*During the first month of the loan’s origination date, (30 days), your pawn loan’s finance charge is only 99¢.  This finance charge will be applicable during the first 30 days only and will apply whether you “redeem” or “rollover” your loan (pawn). Redeem is defined by “picking up” or satisfying your loan (pawn) in full.  “Rolling over” your loan is defined by paying your finance charge within the first 30 days and continuing to keep your pawn active at Decatur Jewelry & Pawn for another 30 days.  The 99¢ finance charge will apply to either option for the first 30 days only. If you redeem your loan (pawn) within the first 30 days of taking out a new loan (pawn), your finance charge is only 99¢.  So, if you borrow $100, for example, your principal & finance charge is only $100.99 if you pick up & redeem your pawn in full.    If you borrow $100 and pay the pawn’s finance charge within the first 30 days and wish to extend your loan for another 30 days, your finance charge is only 99¢ if paid on or before the maturity date.  If you choose this “rollover” option, the finance charge for the next consecutive month(s) will be the regular terms, as allowed under Illinois law, printed on your  pawn ticket contract that is issued with each new pawn (loan).

Finance charge will be deemed due on or before on the maturity date printed on the pawn ticket contract. In order to take advantage of this 99¢ offer, your payment must be made on or before the maturity date and paid during our normal business hours on or before the maturity date.  You must also present the physical pawn ticket contract in order to receive the 99¢ finance charge special.  If you do not present your physical contract at the time of payment, this offer is null and void and the finance charge reverts to the original term, printed on the pawn ticket contract. Phone Pawn Payments are not allowed to receive this 99¢ special, as we need the physical contract on file in order to provide the 99¢ special.


You may call, email or talk directly in person to any Decatur Jewelry & Pawn associate at either location, who will explain our plan, prior to your acceptance or refusal.

Decatur Location:  Monday-Friday: 9:30 am to 5:30 pm, Saturday: 9:30 am – 4:00 pm. (217-875-6625)

Mount Zion Location: Monday – Friday 10:00 am – 5:30 pm, Closed Saturday & Sunday (217-864-3741)

email:  decaturjewelry@comcast.net

This special offer is for NEW loans (pawn) only and this 99¢ finance charge special is valid ONLY within the first 30 days of the loan.  If you go past your “maturity date” printed on your pawn ticket contract, the 99¢ special rate is null & void and your loan (pawn) payment amount will revert to the actual finance charge printed on your pawn ticket contract-NO EXCEPTIONS.  Currently, Decatur Jewelry & Pawn allows a “one-day grace period” on all pawn loan contracts.  This will still apply during this special offer.  Also, if your maturity date falls on a Sunday, you WILL NOT be penalized. You will be allowed to satisfy your pawn’s financial obligation on a Monday without any additional penalty.

This special promotion will end at the close of business on Saturday, June 29, 2019 at 3:59 pm. in Decatur and Friday, June 28, 2019 at 5:29 pm in Mount Zion.

**Please Keep in mind, the term “pawn” means to deposit a physical product as security, as for money borrowed or something given or deposited as security, as for money borrowed.  In Illinois, a pawn contract between borrower and lender is designed to be 30 days.  It is intended to be a short-term loan of 30 days.  Illinois law allows for the lender to contract for and receive a monthly finance charge of one-fifth the loan amount (amount financed).  This finance charge consists of a 3% month interest charge; the remainder of the monthly finance charge is for appraising, loan processing, title investigation, storage, regulatory requirements and other expenses.  The finance charge is deemed earned on the date of the loan and a like amount will be earned every 30 days during any subsequent extensions or grace periods.  If a borrower wishes to extend their loan for another 30 days and pays the appropriate finance charge, the pawned loan will continue for another 30 days with the same original finance charge terms.  Keep in mind, if you choose to renew your loan and pay only the finance charge each month and, if your loan continues uninterrupted for a 12 month period, your finance charge can be up to 243% annually, as allowed under Illinois Law.  This is inadvisable.  Any pawn loan is not intended to continue on an annual basis.  Should you have any financial difficulty satisfying your pawn’s charges, please consult one of our managers for assistance to work out a financially-mutual agreement between you, the borrower and Decatur Jewelry & Pawn, the lender.  
*After 1st month, finance charge reverts to the Illinois Legal Limit of 243% APR. The 99¢ finance charge applies to first 30 day loans (pawns) only. Some Restrictions apply.  Please see store associates for details.
Illinois Statute: (205 ILCS 510/2) (from Ch. 17, par. 4652)