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Your Questions Answered

Pawnbroking

How does a pawn loan work?

Unlike traditional banks and financial institutions that require extensive document checks and salary assessments, pawnbroking provides immediate cash loans within minutes based on the appraisal of your valuables.

We accept gold bars, gold jewellery, gold jewellery with gemstones, platinum jewellery, diamond jewellery and luxury timepieces.

Please bring your valuable item along with your identity document (NRIC/FIN).

The processing time for a pawn loan is typically as quick as five minutes. If you are unable to visit our stores, you can use our valuation service to receive an estimated value for your items within three business days.

The pledge value is based on our assessment of the item’s worth, considering material type, condition, and market trends. It may differ from the retail or resale value.

Each pawn is treated as a new transaction. As gold and market prices fluctuate, the assessed pledge value may vary even for the same item.

Each pawn ticket is valid for 6 months. The exact expiry date is indicated on the ticket under “Date of Expiry.”

To redeem your item, present your pawn ticket and identity document (NRIC/FIN), and pay the principal amount along with the accrued interest.

Yes. You may authorise another person to redeem your item by providing them with your pawn ticket. They must also present their own identity document (NRIC or work permit).

Upon the expiration of your pawn ticket, we will send you a Letter of Forfeiture. Please note that the date on this letter is final, and no extensions can be granted under the Pawnbrokers Act. All unredeemed items will be forfeited 30 days after the notice is sent to the pawner.

Yes. You may choose to reduce your loan amount each time you renew your pawn by paying off part of the principal. Visit any MoneyMax outlet or use our E-Services for more information.

You can obtain a replacement pawn ticket by visiting our store with your identity card. A processing fee of $10 (inclusive of 9% GST) is chargeable for each replacement ticket.

As of 1 January 2023, all pawnbrokers offering cashless payment options may charge a $2 fee for each newly issued pawn ticket, regardless of your chosen payment method.

Online Valuation

Do I need an account to use the MoneyMax E-Servces App?

Yes, an account is required to access MoneyMax e-Services. To register, please visit your nearest MoneyMax outlet. An active email address and mobile number are required during registration.

Yes, you can register using a foreign number, provided SMS service is available. A one-time password (OTP) will be sent via SMS or to your email address.

Yes. Your one-time password (OTP) will be sent via SMS and email upon login into MoneyMax E-Services.

Yes, you can pay your pawn interest online through MoneyMax e-Services using PayNow or a debit card. The service is available on both iOS and Android devices, as well as on desktop browsers.

Car Dealerships

What are the documents required for submission?
  • Photocopy of identity card / passport
  • Vehicle Log Card (LTA)
  • Latest Income Documents
    • CPF Statements for the last 12 months or
    • Income Tax Notice of Assessment for last 1 year, or
    • Payslip for last 3 months

With Singapore’s high car prices the decision to own a car with a renewed COE (COE Car) makes great financial sense as the cost and depreciation is typically lower when compared to a new car. With advances in car technologies, cars are now more reliable than before and are expected to last over 10 years.

 

MoneyMax’s COE Renewal Loans are designed to help you own a COE car with a renewed COE with minimal fuss.

Fill in the application form above and we will contact you to proceed onto the next step.

You can apply for a loan tenure of up to 118 months, or up to 6 months before the expiry of your COE, whichever is shorter.

Car Drivers

Bank and in-house loans, what’s the pick?

We understand that it can be difficult to identify the right kind of car loan, so we are here to break it down for you:

  • Credit History: Bank loans may be the more cost-effective option for you if you have a good credit history with its lower interest rates. Do note the potentially longer (and rigorous) approval process!
  • Speed & Flexibility: In-house loans may be the preferred option for you if you are looking to get your car loan approved quickly, or require a longer loan tenure, or higher loan to value ratio.

To sum, bank car loans tend to provide the benefit of lower interest rates with a stricter criteria, while in-house loans offer greater flexibility to meet the varied needs of our customers. 

Yes, you can! We are a proud partner of most banks in Singapore and would be more than happy to refer your application to the bank(s) on your behalf. This way, we take the administrative hassle of applying to each bank individually away from you. Best of all, we do this at no cost to you!

Our administrative fees are typically priced from $300 and will be clearly stated in the approval advice that you receive.

As an alternative lender, our emphasis also lies on the value of the vehicle that is being purchase or refinanced. A bad credit history should not indefinitely exclude an individual from borrowing, and we believe that credit scores should be assessed alongside with the value of the vehicle. We will also encourage supplementing the strength of your application with an additional guarantor.
Our in-house loans are regulated under the Hire Purchase Act. If a borrower fails to meet his/her obligations, he/she faces the risk of having their vehicle repossessed. Repossession is however considered as the last resort and our preferred course of action is to communicate with our customers to work out a solution that is mutually beneficial.

We have a team of experienced professionals that will guide you in the application process. Assuming that we receive the entire set of documents required for the loan application (Vehicle Log Card, CPF statements for the last 12 months, NRIC), we strive to the turn the approval advice around between 1 to 2 days.

For queries in relation to your instalments, please contact us directly at 8133 3568.

For all other queries, including the early settlement of your vehicle loan, please contact us at enquiry@moneymaxleasing.com.sg.

MoneyMax Rewards Membership

How do I register for MoneyMax rewards membership?

Simply make a purchase at any MoneyMax outlet to become a MoneyMax Rewards Member.

Earn 1 point for every S$20 purchase at MoneyMax Singapore stores.

 

(Point accumulation may vary for purchases made at the following stores: 118 Syed Alwi Road, 81 Serangoon Road, 93 Serangoon Rd and 664 Buffalo Road.)

Earn points for purchase of new jewellery items. MoneyMax Rewards program is not applicable for purchase of gold bars/ coins or preowned jewellery, bags, and watches.

The MoneyMax Rewards program is valid at all MoneyMax stores in Singapore and on our e-Store. Purchases made via MoneyMax Marketplace (Shopee, Lazada, Qoo10) are not eligible for MoneyMax Rewards program point accumulation or redemption.

Visit any of our MoneyMax outlets to check your point balance. A full listing of our outlet locations can be found here.

Redeem $1 off your in-store purchase with every 10 points.

Points earned between Jan – Jun will expire on 30 Jun the following year.

 

Points earned between July – Dec will expire on 31 Dec the following year.

MoneyMax points are non-transferable.

MoneyMax reserves the right to amend the benefits and privileges extended to MoneyMax Rewards from time to time at its sole discretion and without prior notice.

Still have more questions? Talk to Us.