Loan Services

Tennessee Pawn Percentages:

The interest rate charged by pawnbrokers is limited to two percent (2%) per month. The pawnbroker

also may charge a fee not to exceed one fifth (1/5) of the amount of the loan advance for investigating

the title, storage, insuring the pledged goods, closing the loan, making reports to local law enforcement

officials, and for other expenses, losses of every nature, and all other services. No other charge of any

description may be made by the pawnbroker. The allowable interest and fee are deemed owing on the

date of the pawn transaction and on the same day of each subsequent month. T.C.A. ยง 45-6-210.


TLDR: 2% plus 1/5 of the loan amount = an effective rate of 22%


The pawn is a 30 day loan (30 day maturity date,) plus an 30 day hold period before the item can be sold.


Firearms pawn redemptions incur an additional $10 TBI TICS  Background Check Fee which is paid to the TN Bureau of Investigation