Quick Guide: Understanding Fund Express Pawn Shop Singapore

Quick Guide: Understanding Fund Express Pawn Shop Singapore

Congratulations! Did your special someone finally agree to have a date with you? You’re practically bursting with excitement!

But the thing is, you have spent all your paycheck on pesky bills and other monthly expenses.

It is embarrassing and awkward to withdraw your date proposal because your wallet’s feeling a little light.

What will you do?

Fortunately, there are pawnshops all over Singapore. One of these lifesavers is Fund Express Pawn Shop. You can get the money you need to secure the most romantic date.

Table of Content

Fund Express

What Services Does Fund Express Pawn Shop Offer?

  • Collateral Valuation
  • Pawnbroking
  • Online Selling for Pre-Owned Valuables

How to Pawn with Fund Express PawnShop?

  • Who can Pawn with Fund Express?
  • What to Pawn in Fund Express Pawn Shop?
  • What are the Steps when Pawning with Fund Express Pawnshop?

Where are Fund Express Pawn Shop Locations?

Frequently Asked Questions

  • How much is the interest in Fund Express Pawn Shop?
  • How long will I have to wait to redeem the pawned item?

fund express logo

Fund Express

Fund Express Pawnshop Pte Ltd has been around since 1975. Many seasoned pawnbrokers and savvy business folks founded it. They’ve got a real handle on what you, the customer, need and want. The Company specialise in offering short-term loans for 6 months, all tied to collateral like gold and jewellery in various grades.

Fund Express aims to offer top-notch services. It truly focuses on their client’s best interests for the long haul. If you want to sort out your finances, don’t hesitate to swing by their shop. They’re there to help you out.

Fund Express Pawn Shop knows how to build connections beyond just business. It keeps on maintaining relationships that stand the test of time. It’s not just transactions; it’s more like building friendships.

Furthermore, Fund Express is one of the best pawn shops with friendly assistance. They offer deals with attractive interest rates, making their services even more appealing.

Most importantly, Fund Express Pawnshop caters to all clientele beyond borders. It has a global scale that reaches Asia, Europe, and North America.

What Services Does Fund Express Pawn Shop Offer?

Fund Express is a well-known company in Singapore for a reason. For one, its services are superb; it is the first thing you’ll think about when in financial need.

fund express gold

Collateral Valuation

Are you curious about the value of your jewellery collection?

Fund Express Pawnshop gives a solid valuation on all sorts of jewellery, gems, gold, and the like. It has a team of experts in assessing the quality and value of your pledge. This assures you that your beloved possession is safe and trustworthy. Most importantly, your valuables get the best market value it deserves.

Pawnbroking

Do you want to pawn your gold ring for quick cash?

Fund Express Pawn Shop offers short-term loans for 6 months. It is all set up through your pledged collateral. You can pawn your gold and gold jewellery in 18K, 22K, and 24K. Or you may entrust your fancy branded watches like Rolex, Omega, Patek Philippe, and others.

Online Selling for Pre-Owned Valuables

Do you want to sell your used but never abused gold necklace?

Fund Express Pawn Shop is your best solution. It has an in-house system specifically for dealing with second-hand valuables. You can turn those unwanted pieces that have lost their sparkle in your eyes into extra cash in your pocket. Fund Express Pawnshop is the place to go when you’re ready to transform your forgotten jewellery into a more welcome form – money in hand!

Fund Express Pawn Shop is more than just pawning. It offers you other financial help based on your beloved article.

How to Pawn With Fund Express PawnShop?

Pawnbroking with Fund Express is a simple and hassle-free process. You can get an instant cash loan in minutes without much fuss.

fund express pawn shop

Who can Pawn with Fund Express?

If you are more than 18 years of age, you must present a valid identification. It can be your passport or an I/C. If you are a foreigner, your foreign document will help you succeed in getting a quick cash loan.

What to Pawn in Fund Express Pawn Shop?

Luxury timepieces, gold, and jewellery are valuables acceptable when pawning with Fund Express.

What are the Steps when Pawning with Fund Express Pawnshop?

If you have a prized possession that falls within the category of pawnable items, you can follow these steps.

Step 1. Visit the nearest Fund Express Pawnshop in your area. Bring with you the item you wish to pledge.

Step 2. Get an accurate quote from the experts. Have your item valued and quoted at your chosen pawnshop location.

Step 3. Receive a quick cash loan immediately. If you agree with the assessed value, you will have a pawn ticket for that item.

Step 4. Return pawn ticket. You can redeem your article with your pawn ticket after you have settled the principal and interest in full. It must be within six months, or you may renew the interest by paying interest.

Be reminded that the pawn ticket is a vital factor in pawning. Keep it safe at all times.

Where are Fund Express Pawn Shop Locations?

We understand that you are now feeling lost without money. It’s a good thing that Fund Express Pawnshops are easily accessible. You can conveniently visit any of the branches to begin your pawnbroking process.

fund express pawnshop

Balestier Fund Express Pawn Shop Pte Ltd

Year Founded: 1979

Office Address: 296 Balestier Road Singapore 329735

Contact Number: +65 6251 7368

Opening Hours:

  • Monday to Friday: 8:30am—6:00pm
  • Saturday: 8:30am—12:00pm

Bukit Merah Fund Express Pawn Shop Pte Ltd

Year Founded: 1975

Office Address: Blk 133 Jalan Bukit Merah #01-1508 Singapore 160133

Contact Number: +65 6270 3624

Opening Hours:

  • Monday to Friday: 8:30am–-6:00pm
  • Saturday: 8:30am—12:00 pm

Jurong East Fund Express Pawn Shop Pte Ltd

Year Founded: 1997

Office Address: Blk 345 Jurong East St 31 #01-11 Singapore 600345

Contact Number: +65 6896 1978

Opening Hours:

  • Monday to Friday: 8:30am–-6:00pm
  • Saturday: 8:30am—2:00pm

Jurong West Fund Express Pawn Shop Pte Ltd

Year Founded: 1987 

Office Address: Blk 463 Jurong West St 41 #01-574 Singapore 640463

Contact Number: +65 6567 8661

Opening Hours:

  • Monday to Friday: 8:45am—6:00pm
  • Saturday: 8:45am—2:00pm

Tampines Fund Express Pawn Shop Pte Ltd

Year Founded: 2003

Office Address: Blk 201E Tampines St 23 #01-86 Singapore 527201

Contact Number: +65 6785 1955

Opening Hours:

  • Monday to Friday: 8:30am—7:30pm
  • Saturday: 8:30am—5:00pm
  • Sunday: 8:30am—3:00pm

Tekka Fund Express Pawn Shop Pte Ltd

Year Founded: 2000

Office Address: No. 4 Buffalo Road Singapore 219781

Contact Number:+65 6293 8753

Opening Hours: 

  • Monday to Friday: 9:00am—7:00pm
  • Saturday: 9:00am—3:00pm

Before paying a visit to any of these Fund Express Pawnshop outlets, make sure to review their office hours. This way, you won’t waste your time going back and forth just to reach their shop closed.

Are you worried you don’t have qualified items to pawn with Fund Express?

Lucky you! Cash Mart is a licensed money lender in Singapore. It approves low-interest personal loans without collateral. Or you may apply for a payday loan. You can push through with your romantic date night hassle-free. Check out their legit website.

Related Article: Quick Guide: Understanding Heng Seng Pawnshop Singapore

Frequently Asked Questions

How much is the interest rate in Fund Express Pawn Shop?

Fund Express abides by the regulations of the Singapore Pawnbroker’s Association. The interest rate calculator depends on the amount of loan pawned and the loan months. Then, it is multiplied by 1.5% per month or part of the principal loan.

If your loan amount is worth SGD 500 for four months, here is what you must do.

(SGD 500 x 4 months) x 1.5% = Interest Rate

(2,000) x 1.5% = Interest Rate

SGD 30 = Interest Rate

Take note that this is a sample only. The interest rate may differ depending on the value of your pawnable item.

How long will I have to wait to redeem the pawned item?

You can redeem your pledged item anytime if you pay the entire loan amount and interest. Nevertheless, you can only redeem up to six months from the date you pawned your item. Beyond that, you have to say goodbye to your precious valuables. Meanwhile, you can renew your pledge if you still have yet to make plans to withdraw it. It will extend you to another six-month redemption period.

Quick Guide: Understanding Shing Heng Pawn Shop Singapore

Best Licensed Money Lenders Singapore

Quick Guide: Understanding Shing Heng Pawn Shop Singapore

Be familiar with how Shing Heng Pawn Shop Singapore.

Are you out for a weekend getaway? 

Everything’s ready—booked flight and reserved accommodation. 

Sadly, your paycheck is still due next week. 

Your expected budget for vacation is still missing. 

How will you survive without it? 

Easy. Pawn your valuables to the best pawn shop in Singapore. 

The country boasts licensed pawnshops, highly experienced appraisers, and accurate valuations. 

One of the trusted and leading pawn shops is Shing Heng. Learn more about the company, its services, and why many opt for it. 

Table of Content

Shing Heng Group 

What Services Does Shing Heng Pawn Shop Offer?

How Does Shing Heng Pawn Shop Operate?

What Is Shing Heng Pawnshop E-Renewal?

Where are Shing Heng Pawn Shop Locations?

Frequently Asked Questions

shing-heng-pawnshop

Shing Heng Group

Shing Heng is a company engaged in the pawnbroking industry for 25 years. It endured all the challenges of time and became pertinent despite the ever-changing customer demands and intense rivalry. 

Shing Heng Pawnshop originated as a solitary shop in 1996. But it evolved into a well-established pawnshop chain boasting six stores strategically positioned in residential areas in Singapore. 

Today, Shing Heng Pawnshops cater to individuals seeking secured loans, luxury timepieces, gold, and exquisite jewellery. These items are globally acclaimed in Switzerland and around the globe.

Milestones of Shing Heng Pawnshop

Back in 1996, the very first pawnshop sprang up in Woodlands. It went by Shing Heng Pawnshop and remained our flagship spot for over two decades. It is within a lively town bustling with locals and Malaysians working in Singapore. 

The store kept growing strong. Shing Heng even climbed the ladder to become one of the Top 10 pawnshops in Singapore, measured by the total value of pledges we collected.

In 2002, Shing Heng Group unveiled its second Shing Heng pawnshop Tampines. It targeted the eastern side of Singapore. Just two years later, the company headed west and opened up shop in Boon Lay.

Over the following years, the Shing Heng pawn shop expanded. It set up four more branches in high-traffic locations that connected more folks from major housing areas. The sequence began with the Shing Heng pawnshop Bedok store in 2011, followed by Ang Mo Kio in 2012, Marsiling in 2013, and Serangoon Central in 2018. All these outlets are just a stone’s throw away from suburban malls.

In 2010, Shing Heng wanted more than helping folks with finances. The company decided to broaden our services. It entered retail, offering new and pre-owned jewellery and luxury timepieces. And to top it off, Shing Heng started fixing up high-end watches.

In 2017, the flagship Woodlands store had to close up shop. The Old Woodlands Town Centre, where we’d been operating since 1996, had to make room for the Woodlands Checkpoint extension. It kept things smooth for the customers after the Woodlands store closure. The Shing Heng Group Marsiling branch was the go-to point of contact for folks living in northern Singapore.

What Services Does Shing Heng Pawn Shop Offer?

Shing Heng is different from your ordinary pawnshop.  In addition to its pawnbroking service, it presents a range of offerings that undoubtedly hold advantages.

shing-heng-pawnshop-jewellery

Pawnbroking

Shing Heng Pawnshop offers a loan that needs valuable collateral. If you give your pledge, a branded watch, gold, or jewellery, you will receive your money in return. But there is an interest involved.

Shing Heng Pawnbroking is super hassle-free. No credit checks to worry about. But your chosen collateral must be eligible to pawn. 

If you follow through the pawnbroking process, you will receive a pawn ticket. It is a document confirming the transaction and a receipt for your pledged collateral.

If you wish to extend the loan duration of your loan, you have the option of renewing your pawn ticket available to you. You can accomplish it conveniently by visiting a physical outlet or utilising our digital platform through the designated app.

If you decide to retrieve your pledged item, the process is easy. You must bring your pawn ticket and valid proof of your identity to any Shing Heng outlet. Then, you must settle the outstanding loan amount and the accrued interest. Once done, your item will be promptly returned to you, concluding the transaction.

Safe Keeping

Shing Heng Pawnshop offers a practical solution for individuals planning a vacation. It addresses concerns about the security of their valuables while far from their home. 

The premise is simple yet effective. You entrust your valuable items to Shing Heng pawnshops during your absence. In return, you can avail of two distinct advantages.

Firstly, the peace of mind that your precious belongings are securely stored and protected. As you embark on your unwinding journey, you can rest assured that your valuables are in responsible hands.

Secondly, the service extends beyond safekeeping. It provides an instant cash loan during your travels. You can enjoy the flexibility to indulge in overseas shopping with financial freedom. 

However, it is important to note even if the service provides convenience, interest charges still apply.

Trading

The “Trade-In Offer” presented by Shing Heng Group represents a valuable opportunity for individuals to leverage the worth of their cherished possessions. 

Shing Heng Pawnshop extends generous valuation. It ensures you receive a substantial cash value for the precious items you hold dear. It can be an exquisite piece of jewellery, a luxury timepiece, or cherished gold. Shing Heng commits to providing remuneration. As a result, it accurately reflects the significance and value of your belongings.

In addition, you can opt for a direct cash transaction, receiving immediate financial gain for your items. Or, you can explore the option of exchanging them. Shing Heng stores house various new and pre-loved items that you can peruse and select from. 

These two options underscore the company’s dedication to offering you versatile solutions. Therefore, you can align it with your individual preferences and needs.

Servicing and Alteration

Shing Heng Pawnshop offers an extension of service suitable for the diverse needs of esteemed clientele. It addresses general maintenance to more intricate fixes within luxury timepieces and fine jewellery.

Shing Heng provides various maintenance and repair services for luxury timepieces. Our skilled watchmaking professionals facilitate the process. From routine maintenance procedures to intricate repairs, the professionals are equipped with the proficiency to address a range of watch-related needs meticulously. 

Additionally, this service of Shing Heng addresses jewellery. Our precious bracelets and rings often hold immense sentimental value and personal significance. As your tastes evolve, you gain the desire to tailor them according to your personal preference. The skilled artisans assist you in achieving it. 

If you wish to resize a ring or reimagine the design of a necklace, Shing Heng pawnshop provides a seamless blend of tradition and innovation. But it is still concerning the unique character of each piece.

Online Shopping

Shing Heng e-Shop is another commitment to convenience and accessibility to valued customers. It is a virtual platform that serves as a digital marketplace. You can explore and engage various branded timepieces and gold or diamond jewellery products.

The Shing Heng e-Shop offers a user-friendly interface. It provides an intuitive navigation experience to browse through various categories seamlessly. It ranges from luxury timepieces to exquisite jewellery. The e-Shop showcases diverse offerings, catering to different preferences and tastes.

Customers can explore detailed product descriptions, high-quality images, and pertinent information about each item. This way, you can make informed decisions in alignment with their preferences and requirements.

Purchasing through the Shing Heng e-Shop is a streamlined process. You can add your desired items to the virtual cart. Then, proceed to a secure checkout process. Afterwards, you select your preferred payment methods. All payment gateways ensure that transactions have the highest level of security.

How Does Shing Heng Pawn Shop Operate?

Shing Heng Pawnshop continues to stand tall despite all the trials they face. Singaporeans and Permanent Residents seek financial aid because of how it works professionally. 

shing-heng-timepieces

Shing Heng Pawnbroking Process

If you are eligible to pawn, follow the steps below. 

Step 1. Free Valuation. Shing Heng Pawnshop has experts who assess the value of your pledge. 

Step 2. Get instant cash. Once the valuation is complete, you decide whether to accept the offer. If you agree, you can claim your instant cash loan from your beloved valuable. 

Step 3. Redeem or renew a loan. After receiving your quick online loan cash, you can redeem it by repaying the loan amount and interest. Or you can extend the loan process by renewal. 

The streamlined pawnbroking process ensures a fast transaction. Also, it provides flexible options that fit you.

Acceptable Collateral

Shing Heng Pawnshop accepts collateral such as diamonds, gold, jewellery, branded watches, and luxury bags. You can contact their pawnshop beforehand to ensure your cherished article is qualified.

Loan Amount and Tenure

The loan amount solely depends on your collateral value. Your article is subject to an appraisal of the professional valuers. 

There is no minimum loan period when pawning with Shing Heng. Although you can borrow for up to six months, you can still extend it. But it is still subjected to assessment.

Fees to Pay

You only need to worry about the interest when redeeming your pledged item. Also, you must consider the interest to extend your pawn beyond six months. 

In addition, you can pay the interest personally to any Shing Heng store. Or you can settle it online through their official website.

Pledge Assessment

Shing Heng pawn shop has a team of expert appraisers knowledgeable about all sorts of jewellery, diamonds, and gold. These folks know how to tell the real deal from the rest. 

Professional valuers carefully check out your articles and give them the authenticity stamp. Then, they assess their condition before giving you an offer. 

Furthermore, the appraisers are savvy about the current Shing Heng gold price. That’s why you are sure your items are in good hands with these experienced pros.

Pledge Redemption

Once you accept the appraised value of your item, you will get a pawn ticket. It is a golden key to retrieve your pledge back. You must keep it safe so that redeeming your item is fast and easy when it comes. 

You must visit the Shing Heng outlet and pay off the remaining loan amount and interest. Bring your pawn ticket and ID to prove your identity. Then, you will receive your item back.

Related Article: Quick Guide: Understanding Heng Seng Pawnshop Singapore

What Is Shing Heng Pawnshop E-Renewal?

Before, you could carry out renewal transactions to any branch near you, but now, online renewal of your pawn ticket is possible in Shing Heng Pawnshop. 

shing-heng-mobile-app

Perks of Shing Heng Online Renewal

The Shing Heng mobile app is an excellent choice if you seek convenience. No queues to worry. You can save time and effort with their available digital service. 

Furthermore, the Shing Heng app aids in securing your pawn ticket. If you are a registered app user, you can monitor all your transaction activities in their database. You can have your own hardcopy replacement, too. But you must go to a Shing Heng pawnshop outlet and settle the replacement fee. 

Most importantly, Shing Heng protects your personal information. It is similar to other private-sector entities that abide by Singapore’s PDPA (Personal Data Protection Act).

Downsides of Shing Heng Online Renewal

Despite the advantages of Shing Heng’s e-Renewal, disadvantages are inevitable. 

Currently, the only acceptable mode of payment for interest through the app is eNets. 

However, the mobile application only offers limited services. You cannot update your personal particulars in the app. If you wish to change any information, visit the nearest Shing Heng Pawnshop branch.

Where are Shing Heng Pawn Shop Locations?

As of today, Shing Heng Group Pawnshop has six outlets strategically situated across Singapore. You can visit any of their branches. So you can enjoy Shing Heng jewellery, luxury watches, and pawning services. 

shing-heng-outlets

Shing Heng Ang Mo Kio

Address: Blk 702, Ang Mo Kio Avenue 8 #01-2517 Singapore, 560702

Contact Number: +65-6457-9850

Business Hours: Monday–Sunday: 8:30 am to 8 pm

 

Shing Heng Bedok

Address: Blk 205, Bedok North Street 1 #01-391 Singapore, 460205

Contact Number:  +65-6245-0879

Business Hours: Monday–Sunday: 8:30 am to 8 pm

 

Shing Heng Boon Lay

Address: Blk 221, Boon Lay Place #01-124 Singapore, 640221

Contact Number: +65-6265-9203

Business Hours: Monday–Sunday: 8:30 am to 8 pm

 

Shing Heng Marsiling

Address: Blk 302, Woodlands Street 31 #01-297 Singapore, 730302

Contact Number: +65-6367-0323

Business Hours: Monday–Sunday: 8 am to 7:30 pm

 

Shing Heng Serangoon Ctrl

Address: Blk 264, Serangoon Central #01-227 Singapore, 550264

Contact Number: +65-6214-3252

Business Hours: Monday–Sunday: 8:30 am to 8 pm

 

Shing Heng Tampines

Address: Blk 201E, Tampines Street 23 #01-96 Singapore 527201

Contact Number: +65-6587-4618

Business Hours: Monday–Sunday: 8:30 am to 8 pm

Shing Heng Pawnshop operating hours vary depending on its location. Before you drop by their shop, check its schedule first. In addition, keep in mind that Shing Heng pawn shops are closed during Public Holidays. 

Pawnbroking is fun and easy, especially if you have a gold valuable or a limited timepiece. But what if you’re also short on those? How can you push through with your much-awaited weekend escape?

Well, you still have other financial solutions in Singapore. Licensed money lenders in the country are an everyday go-to fix for quick cash loans. You don’t need to risk your prized possession for it to work. 

Take Cash Mart, for instance. It is one of the top-notch legit lenders that approves loans without collateral. Also, its personal loans come with low interest. Or you may apply for its payday loan to get by with your unexpected financial challenges until your next paycheck. So you can get the funding you need to travel wherever you want.

Frequently Asked Questions

Are my valuables secured in Shing Heng Pawn Shop?

Shing Heng Pawn Shop keeps all pledges insured and secured. Your precious articles are kept in strong rooms and reinforced safes. Also, all stores have well-equipped alarm systems and 24-hour surveillance cameras. 

What happens if I fail to redeem my pledge or renew the pawn ticket?

You will have an additional interest charged for the pledge you missed to renew or redeem on time or upon expiry. Also, your items may be forfeited if you can not redeem them upon the end of the loan period. Nevertheless, Shing Heng provides a final reminder before doing so. 

What to do if my pawn ticket is lost?

A lost pawn ticket needs a replacement ticket. You can avail of it by visiting any Shing Heng pawnshop outlets. However, there is a processing fee entailed with it.

Quick Guide: Understanding Heng Seng Pawnshop Singapore

Best Licensed Money Lenders Singapore

Quick Guide: Understanding Heng Seng Pawnshop Singapore

Have you ever come across Heng Seng Pawnshop? It stands as a reputable and legitimate pawnbroker in Singapore. Discover the reasons behind its enduring presence in the country’s pawnbroking landscape.

Are you facing a financial shortfall?

Are you considering a personal loan but concerned about your credit history?

Refrain from denying yourself the necessary funds.

You can obtain immediate cash without worrying about credit assessments, especially if you pawn valuable gold jewellery or a luxurious timepiece.

Heng Seng is among the most reliable pawnshops. You can use your precious items as collateral to secure the instant cash loan you require.

However, that’s different from the extent of their services. The company also deals in buying gold and diamonds. Gain a deeper understanding of what Heng Seng Pawnshop Singapore offers as you continue reading.

Table of Content

Heng Seng Company

What Does Heng Seng Pawnshop Company Pte Ltd Do?

How Heng Seng Pawnshop Works?

What is the Process of Online Valuation in Heng Seng?

How to Process Heng Seng Online Renewal for Pawn Ticket?

Where to Find Heng Seng Pawnshop?

Frequently Asked Questions

heng-seng-pawnshop

Heng Seng Company

Heng Seng, a stalwart in the industry, boasts over five decades of operational history, having been officially registered with ACRA since its inception on November 22, 1971.

The pawnshop takes pride in its dedicated and experienced workforce, committed to delivering trustworthy and dependable pawnbroking services to needy individuals. Notably, it operates as a private entity without being publicly listed, and no records indicate any initial public offering (IPO) filing.

Furthermore, Heng Seng has maintained a clean legal record, not being involved in any litigation, as confirmed by the public records of the Supreme Court of Singapore. It underscores the company’s alignment with its Mission and Vision, showcasing its commitment to ethical practices.

Heng Seng firmly upholds principles of fairness and honesty in its operations, believing that customer satisfaction is the key to sustained success. Additionally, the company seeks to remain competitive within the trading systems, ensuring its continued relevance and excellence.

What Does Heng Seng Pawnshop Company Pte Ltd Do?

With a better understanding of Heng Seng Pawnshop, you can now see how the company can meet your financial needs. Here are your top choices.

heng seng luxury timepieces

Collateral-based Short-term Loans

Heng Seng Pawnshop runs loans for a 6-month tenure. The secured loan type requires you to pawn your valuable possession.

Pawning with Heng Seng accepts the following pledge.

Gold Jewellery. Heng Seng pawn shop accepts various gold grades. You can bring your necklace or bracelet if it falls under 18K, 22K, or 24K gold. After checking, you can head directly to Heng Seng Pawnshop for a quick source of funds.

Branded Timepiece. Another pledge you can use as collateral is a luxury watch. Heng Seng accepts specific brands of timepieces like Rolex, Omega, Patek Phillpe, and more.

Online Valuation

The latest addition to Heng Seng’s service is its online valuation. You can get an estimated value of your precious gold, jewellery, and branded watches through their official website. It is accessible and free. This way, you have an idea beforehand how much is the value of your prized possession.

Buy and Sell

Heng Seng assists you in selling your valuables without questions. It provides consignment services that permit them to sell goods on customers’ behalf.

Branded timepieces and gold jewellery are excellent investments. Even if it falls under the second hand category, you can find buyers willing to bid for it.

Moreover, Heng Seng allows you to browse and purchase pre-owned pieces at a discounted price. It ensures that all the transactions made are safe and secure. Plus, it assures you that every item is available on their official website and is legit and professionally appraised.

Heng Seng Pawn Shop offers trading, bartering, swapping, or laybys quality secondhand goods. You can have financial service options based on what you need.

How Heng Seng Pawnshop Works?

Heng Seng Company is a professional and hassle-free pawnbroker. Its services offer customers like you quick and hassle-free cash who prefer to pawn valuables.

heng seng gold

Heng Seng Pawnshop takes pride in conducting an honest and fair business bonded by the Pawnbrokers Association of Singapore.

This is how it works.

Step 1. Online Valuation. Set your expectations about the estimated value of your article by having an online valuation first.

Step 2. Bring your valuable. Submit the valuable item you applied for in e-Valuation at Heng Seng Pawnshop at Toa Payoh. A professional appraiser will check the quality and intricate details of your article. Also, they will cross-match every detail from the online valuation.

Step 3. Present your identification. Your identity card, NRIC or passport, are vital documents for the pawning process. Make sure to bring them along to validate your identity.

Step 4. Receive quick cash and pawn ticket. The expert valuer will present you with the offer. If you agree with them, you will get your money from the pawned item. Secure your pawn ticket is a safekeeping to avoid incurring other fees.

Step 5. Repayment is a must. Pay off your quick online loan on time to claim your precious jewellery. Or else you will lose your valuable to Heng Seng.

Pawnbroking with Heng Seng is straightforward. You can have the badly needed funding promptly.

What is the Process of Online Valuation in Heng Seng?

If you plan to pawn your precious jewellery, you can start with the online valuation process. It saves you the trip of coming down to the store. Follow these steps to receive the best price for your pledge.

Heng seng jewellery

Step 1. Identify your account.

Choose if you are a New User or have an Existing Account.

You must enter your NRIC/Fin and Password if you are the latter. Then, click Generate OTP. Once you receive your OTP, you can log in to your account.

But if you are a first-timer, click New User.

Step 2. Select category.

Choose which item you plan to pawn. Is it gold, jewellery, or luxury watches?

Step 3. Provide item details.

Based on your chosen pledge, enter all the vital information.

For jewellery, identify its type. Is it a bracelet, bangle, earrings, necklace, pendant, or ring? Then, pick its settings. Does it have diamond, jade, stone, or others? Afterwards, choose its material type. Is it gold, white gold, or platinum? Most importantly, input the jewellery’s weight and other additional descriptions.

For luxury timepieces, identify the brand. Is it, Audemars Piguet, Bvlgari, Cartier, Chopard, Frank Muller, Hublot, IWC, Jaeger-LeCoultre, Longines, Omega, Oris, Panerai, Patek Phillipe, Piaget, Rado, Richard Mille, Rolex, Tag Heuer, Tudor, or Vacheron Constantin? Then, click the model and input the production year. Afterwards, select the number of years for service maintenance. Most importantly, indicate the bracelet material. Is it stainless steel, titanium, gold, rubber, resin, silicone, or leather? Don’t forget to specify additional details.

For gold items, identify their purity. Is it 24K, 23K, 22K, 20K, 18K, 14K, or 9K? Then, input the weight in grams and other additional information.

Don’t forget to tick the boxes for the inclusive items. It includes information like Authencity Card, Original Box, Purchased Receipt, and Diamond Certificate.

Once you have provided these essential details, upload clear photos. Make sure to have front view, left view, right view, back view, and other vital documents. This way, you will receive a better valuation for your valuables.

Step 4. Input your personal contact information.

Ensure to provide your NRIC/FIN, full name (as it is in your NRIC), gender, race, birthdate, nationality, residential address, contact number, and email. Then, click Generate OTP to proceed.

Step 5. Review and confirm.

Before officially submitting your online valuation, double-check every detail you provided. This way, you’ll have the most accurate value for your pledge.

However, be reminded that this is only an estimate. Once you bring your valuables, Heng Seng expert valuers will still assess the item’s condition.

How to Process Heng Seng Online Renewal for Pawn Ticket?

Do you still need time to recuperate for your unexpected expenses? You can renew your pawn ticket without taking a day off from work online.

Heng seng pawnshop ticket

Here’s what you should do.

Step 1. Ensure you are registered to Heng Seng Pawnshop System. 

Online Renewal only works if your Registered NRIC / Work Permit / Passport Number and mobile number reflect on the system. You can contact the shop and confirm with the staff if you have doubts.

Step 2. Login to your Heng Seng account. 

Input your NRIC or Passport Number or Work Permit. Then, enter your password.

Step 3. Wait for your One-Time Password. 

Your registered mobile number will receive the OTP. Enter it first before you can click Login.

Step 4. Choose the Renewing Tickets. 

Once you’re in, you can see various options in your account. You can:

  • View all existing pawn tickets except for lapsed pawn tickets.
  • View your Profile but not edit.
  • Renewal of existing pawn tickets
  • Payment through PayPal and NetsQR.

Step 5. Follow the prompts. 

Enter all the necessary information to renew your pawn ticket successfully.

Where to Find Heng Seng Pawnshop Singapore?

Seng Heng PawnShop Singapore has only one branch. When you visit the place, ensure you can maximise all their services.

Heng seng pawn shop in Singapore

Heng Seng Pawnshop Co Pte Ltd

Heng Seng Address

520, Lorong 6 Toa Payoh, #01-59, HDB Hub, Singapore, 310520 (Above Toa Payoh MRT Station at Exit C)

Heng Seng Contact Number

6251-2213

Heng Seng Pawnshop Website

https://www.hengseng.com.sg/

Heng Seng Pawnshop Opening Hours

Monday–Friday: 8:30 am to 8 pm

Saturday: 8:30 am to 6 pm

Sunday: 11 am to 5 pm

Heng Seng Pawn Shop is closed during public holidays.

Pawning with Heng Seng is relatively fast and easy, especially if you have a luxury item to pawn. But what if you have none? How can you face your financial dilemma?

Licensed money lenders in Singapore is a known source of fast cash loan. You can borrow money even if you lack a prized possession. Cash Mart is an excellent example. You can apply for a low-interest personal loan even with poor credit records.

Frequently Asked Questions

What sector does Heng Seng Pawnshop belong to?

The company primarily operates in the Pawnbrokerage sector.

What are the acceptable modes of payment in Heng Seng Pawn Shop?

You can transact with Heng Seng through MasterCard, Visa, Bank Card, or Eftpos, whichever is convenient.

Quick Guide: Understanding Maxi-Cash Pawn Shop Singapore

Best Licensed Money Lenders Singapore

Quick Guide: Understanding Maxi-Cash Pawn Shop Singapore

Explore more about Maxi-Cash pawn shop Singapore. 

Are you currently on vacation and unexpectedly need extra funding?

You can get the additional cash you need at pawn shops in Singapore. It offers a unique and accessible method of obtaining quick online cash. It is a perfect choice for people who are unqualified to take out traditional bank loans. If you have poor credit or have no time to go through the lengthy application process, pawning your valuables is the best option.

Among the top options in Singapore is the Maxi-Cash pawn shop. It has well-known and reputable pawn shop chains conveniently accessible in all regions of the country. It has competitive interest rates and fees, making it stand out from other pawn shops in the country. On top of that, it has additional features that you will surely enjoy.

Discover more details regarding Maxi-Cash and the range of services it offers. Here is a concise company overview.

Maxi-Cash

Table of Content 

How Does Maxi-Cash Work?

How Maxi-Cash Pawnshop Pte Ltd Operate?

Where is Maxi-Cash Near Me?

What is Maxi-Cash Online?

Frequently Asked Questions

Maxi-Cash Singapore

Maxi-Cash started its corporation in 2008, a subsidiary of Aspial Corporation Limited. It is a pawnbroking shop and retail store for branded merchandise and jewellery. In addition, the company offers secured lending services.

The inaugural Maxi-Cash pawn shop opened in February 2009 at Ang Mo Kio Central. But it doesn’t stop there. It rapidly grew and now has an island-wide network of pawnshops and retail outlets.

Currently, Maxi-Cash Singapore is accessible in over 48 strategically chosen areas. Also, it has retail outlets across Hong Kong and Malaysia.

On June 12, 2012, Maxi-Cash was the first public-listed pawn shop on the Singapore Exchange (SGX) Catalist.

Maxi-Cash commits to building a customer-focused business. The company aligned and designed a Maxi-Cash App that addresses Singaporeans and Permanent Residents. It integrated online payment services through iPayment and online valuation—E-Valuation. Maxi-Cash E-Shop brings a seamless digital shopping experience to customers.

Awards and Recognitions

Maxi-Cash continuously grow and innovate products, services, and customer experience. It became a leader in the pawnbroking and retail industry. As a result, it garnered the following.

2022 and 2023 – Strait Times Singapore’s Best Employers Award

How Does Maxi-Cash Work?

Maxi-Cash has designed various products and services to cater to multiple needs. Find out what they offer.

gold bangle for Maxi-Cash pawn shop

Pawnbroking

Maxi-Cash is one of the prominent players in the pawnbroking industry. Singapore Citizens and Permanent Residents can pawn their cherished possessions at favourable interest rates. Plus, you have the assurance that your pawning transaction is swift yet secure.

Citigems Jewellery Shop

Maxi-Cash takes great pride in its exquisite jewellery selection. You can discover a wide range of contemporary diamond and gold jewellery in its shops. All of these perfectly suit modern men and women.

999 and 916 gold price in Singapore Maxi-Cash maintains the limelight. As one of the Maxi-Cash jewellery and gold collections, it boasts masterfully crafted beauty. Adorning yourself with it elevates your appearance with glow and brilliance.

A Maxi-Cash gold necklace, bracelet, ring, and others have exceptional purity. It showcases the most natural and dazzling gold, enhancing a woman’s beauty and radiance.

LuxeSTYLE

Maxi-Cash LuxeSTYLE offers a selection of fashionable and sought-after preloved items like watches, bags, and branded jewellery. In addition, the unique service has a crucial role in promoting a sustainable luxury circular economy.

If you participate in the LuxeSTYLE buy and sell off your preloved luxury items, you contribute to reducing carbon waste and waste footprints. Maxi-Cash dedicated a team responsible for conducting rigorous checks to inspect the quality and authenticity of every item bought and sold in Maxi-Cash.

How Does Maxi-Cash Pawn Shop Pte Ltd Operate?

Maxi-Cash Pawn Shop Singapore is the country’s pioneer pawnbroker offering Instant Cash via PayNow. The convenient service eliminates your need to carry a massive chunk of cash and endure long queues at the bank.

maxi-cash-singapore

What is the Pawnbroking Process of Maxi-Cash?

The Maxi-Cash procedure is a continuous cycle, depending on your financial circumstances. It takes four simple steps.

Step 1. Present your valuables. Before you take your precious gold, diamonds, branded jewellery, bag, or watch at any Maxi-Cash branch, assess its quality first.

Step 2. Obtain a valuation for your item. Maxi-Cash has a team of experienced valuers who will gauge the value of your pledged item.

Step 3. Receive quick cash. A Maxi-Cash appraiser will offer you the amount that best suits your pledge. You will get your instant cash loan immediately if you agree with the offer.

Step 4. Redeem or Renew. Become a responsible pawner by repaying your loan amount on time. Or renew your pawn ticket as needed.

From here, it is evident that pawnbroking with Maxi-Cash is less tedious than before.

How Maxi-Cash Online Valuation Works?

Maxi-Cash pawn shop takes pride in its competitive loan rates. With the convenience of the Internet, you can initiate your pawning journey at home or work using the Maxi-Cash E-Valuation service. It only takes a few steps to obtain an online valuation.

Step 1. Provide your contact information. Indicate your name, preferred mode of contact and preferred Maxi-Cash location.

Step 2. Enter your article details. Indicate the product category. For gold and jewellery, specify the gold content and weight. Meanwhile, for designer bags and luxury, choose the brand and model.

Step 3. Upload the item photo. A clear, detailed, and high-quality image helps the expert appraiser accurately get the best value for your article. It is best to follow the sample guide on the different views on taking a picture.

Step 4. Review and Submit. Reread all the information you entered and see if it is accurate. Once sure, click the Submit button.

If you heed the process above, you can receive the price quote aligned with your pledge value. In addition, be reminded that the offered value is only an estimation. You still need to visit a Maxi-Cash store to complete your transaction.

How Long is the Loan Period in Maxi-Cash?

At Maxi-Cash, pawning your valuables has a loan period that runs from 1 month up to 6 months.

Within the 6-months redemption period, if you wish to renew your loan or redeem your pledged item, you can. However, it is a must that you pay the required interest amount first.

But if you extend the redemption period, you can renew your loan in Maxi-Cash. Both parties, you and the pawnbroker, must consent to the loan agreement or the subsequent agreement.

How Much is the Maximum Interest Rate of Maxi-Cash?

Maxi-Cash is a licensed pawnbroker in Singapore that strictly abides by the regulations of the Pawnbroking Act regarding chargeable interest rates.

For example, if you pawn your precious Maxi-Cash gold bracelet, the applicable interest rate will be 1.5% monthly or part thereof on the principal loan amount. And your maximum annual percentage interest rate is 18%.

On top of the monthly interest, an additional fee will be imposed if your redemption period lapses. Nevertheless, Maxi-Cash pawn shop will only take profit on your loan for up to 2 months after the redemption period expires.

Here is a sample scenario: 

You applied to pawn your gold bracelet at the Maxi-Cash pawn shop. Your total loan amount costs SGD 10,000. With a pawn duration of 6 months, your total interest is SGD 900. Therefore, your total repayment amount is SGD 10,900.

Aside from the interest rate, other chargeable fees are associated with Maxi-Cash pawnbroking. Singapore Pawnbrokers Act permits the following charges:

Pawn Ticket Issuance Fee. Every pawn ticket costs $2, but you will not incur any if your pawn ticket is issued for the following changes:

  • Pawner’s contact number, address, or email address
  • Name or address of the pawnbroker’s business
  • Correction in any particular in the pawn ticket

Pawn Application Fee. Every time you pawn any of your valuable gold jewellery, you will be charged the following application:

  • A person claims to be entitled to redeem a pledge but has no pawn ticket
  • A person claims to be the rightful owner of articles wrongfully pawned.

Keep in mind that the processing fee is mandatory. The charge came directly from the third-party payment gateway service provider.

Related Article: Where to Find the Best Pawn Shops Near You

Where is Maxi-Cash Near Me?

Maxi-Cash provides one of the largest networks of pawn shops and retail stores. These are conveniently located in nearby amenities like MRT stations and bus interchanges. You can find a store near you in these areas.

maxi-cash pawn shop

Central Region

  • Maxi-Cash Boon Keng MRT
  • Maxi-Cash Bugis
  • Maxi-Cash Bukit Merah
  • Maxi-Cash Dhoby Ghaut
  • Maxi-Cash HarbourFront Centre
  • Maxi-Cash Holland Drive
  • Maxi-Cash Lucky Plaza #B1-12/14
  • Maxi-Cash Lucky Plaza #01-06
  • Maxi-Cash Lucky Plaza #02-34/35/36/37
  • Maxi-Cash People’s Park
  • Maxi-Cash 61 Serangoon Road
  • Maxi-Cash 152 Serangoon Road
  • Maxi-Cash Serangoon #01-08
  • Maxi-Cash Tiong Bahru Plaza

North Region

  • Maxi-Cash Admiralty MRT
  • Maxi-Cash Ang Mo Kio Ave 8
  • Maxi-Cash Ang Mo Kion Ave 4
  • Maxi-Cash Causeway Point
  • Maxi-Cash Chong Pang
  • Maxi-Cash Hougang
  • Maxi-Cash Marsiling MRT
  • Maxi-Cash NEX
  • Maxi-Cash North Point City
  • Maxi-Cash Punggol Plaza
  • Maxi-Cash Seletar Mall
  • Maxi-Cash Sembawang MRT
  • Maxi-Cash Sengkang MRT
  • Maxi-Cash Sengkang MRT (LuxeSTYLE)
  • Maxi-Cash Toa Payoh
  • Maxi-Cash Waterway Point
  • Maxi-Cash Wisteria Mall

West Region

  • Maxi-Cash Boon Lay MRT
  • Maxi-Cash Bukit Batok MRT
  • Maxi-Cash Bukit Panjang Plaza
  • Maxi-Cash Clementi
  • Maxi-Cash Jurong Gateway
  • Maxi-Cash Jurong West
  • Maxi-Cash Jurong Point
  • Maxi-Cash Lot One Shoppers’ Mall

East Region

  • Maxi-Cash Aljuniied MRT
  • Maxi-Cash Bedok
  • Maxi-Cash Eunos MRT
  • Maxi-Cash Joo Chiat
  • Maxi-Cash Marine Parade
  • Maxi-Cash Paya Lebar MRT
  • Maxi-Cash Tampines MRT

Thanks to the strategic locations of Maxi-Cash pawn shop, you can avail of their services anytime you need them. But it does not end there. Maxi-Cash is now more accessible with its recent innovation—Maxi-Cash mobile app.

What is Maxi-Cash Online?

You can now access Maxi-Cash through its mobile application. It is a one-stop app that provides a safe and easy shopping experience. You can now process online valuations while at home or at work. Most importantly, the Maxi-Cash app permits your instalments and interest payments.

maxi-cash pawn shop mobile app

 

Why Download a Maxi-Cash App?

Even though Maxi-Cash is almost everywhere in Singapore, some locals still prefer to have a Maxi-Cash on their phones.

Save time. All your loan interest payments and shopping instalments push through within seconds. You don’t need to commute going to the nearby Maxi-Cash branch.

Hassle-free. You only need to download the app and register. Once you’re in, you’re just a tap away from accomplishing all your Maxi-Cash transactions.

Pay anytime, anywhere. With Maxi-Cash, you can leave all your worries behind regarding your dues and financial obligations. With your app, you settle your bill whenever and wherever you are.

How to Use the Maxi-Cash App?

Grab the convenience the mobile app brings by following these steps.

Step 1. Download the app. Visit the Play Store or Apple Store. Look for the app and download it.

Step 2. Register. Create your account by following the prompts. Check if you provided all the essential details correctly.

Step 3. Pay. Sign in to your registered account. You can see all your active transactions and pawn tickets. Tap once to pay your interest and instalments to finish.

Now, you have complete access to all the Maxi-Cash services. Buying a Maxi-Cash gold ring is faster and easier with just one click. Fundamentally, you can monitor all your dues without missing it.

However, there is still a limit to what Maxi-Cash can offer. If you don’t have an acceptable brand of luxury bags and timepieces, pawning is not a wise decision. Fortunately, you can turn to a licensed moneylender like Cash Mart.

Cash Mart approves quick online cash without asking for any collateral. Its legit money lending procedure is fast and easy to use. You can take out a low-interest personal loan hassle-free wherever you are. That’s why it is perfect while travelling.

Frequently Asked Questions

What is MaxiPAY?

MaxiPAY is a personal eWallet by Maxi-Cash. It provides a convenient and secure solution to any transactions accepted worldwide.  You can use it for online shopping, real-time remittance, cashless in-store payment, and overseas withdrawal.

MaxiPAY is available in both physical and virtual cards. You can top it up conveniently, so you won’t worry about insufficient funds.

How can I use Maxi-Cash Down-Loan?

Down-Loan works when you reduce your loan amount through every interest payment. You can apply for this through the Maxi-Cash app or visit any Maxi-Cash store.

What are acceptable items in the Maxi-Cash pawn shop?

Maxi-Cash accepts the following as your pledge:

  • gold bars
  • gold jewellery with a gold content minimum of 9k
  • gold jewellery with gemstones
  • platinum jewellery
  • diamond jewellery
  • luxury timepiece

What are acceptable branded bags to pawn in Maxi-Cash?

You can pawn your Louis Vuitton and Chanel at any of the following Maxi-Cash outlets:

  • HarbourFront Centre
  • Lucky Plaza (B1-12/14)
  • Northpoint City
  • Tampines MRT
  • Tiong Bahru Plaza
  • Waterway Point

What are acceptable luxury timepieces brands to pawn in Maxi-Cash?

You can pawn a variety of expensive watches in Maxi-Cash. However, only certain branches accept such brands. Here is the list.

  • Rolex is allowed in all Maxi-Cash stores.
  • Omega is allowed in Maxi-Cash outlets, such as 61 Serangoon Road, Choa Chu Kang MRT, Clementi, HarbourFront Centre, Hougang, and People’s Park Complex Seng Kang MRT.
  • Other branded timepieces are allowed in Maxi-Cash HarbourFront Centre. These are Breitling, Cartier, Bvlgari, Chanel, IWC, Franck Muller, Panerai, Hermes, Montblanc, Tag Heuer, Tudor, and Tiffany & Co.

How to Sell Bags to Maxi-Cash?

If you want to sell or consign your luxury items, Maxi-Cash is the best choice. Plus, you get an excellent valuation for branded goods like bags, watches and jewellery.

Quick Guide: Understanding ValueMax Pawn Shop Singapore

Best Licensed Money Lenders Singapore

Quick Guide: Understanding ValueMax Pawn Shop Singapore

Why Pawn with ValueMax Pawn Shop Singapore?

Ever wonder why pawnshops are almost in every part of Singapore?

Pawnbroking started from a basic principle of legal money lending from portable collateral. Instead of pawning real estate properties, you use valuable items like jewellery, watches, and gold will do.

Singapore is among the countries that adopted the progressive pawnshop industry. The operation greatly depends on the principles of trust and integrity. You entrust your valuables in exchange for quick cash.

As the industry continued to develop, different pawnbroking surfaced and grew too. More established pawn shops offer their services to people needing urgent funding. One of the top names you can recall is ValueMax.

ValueMax Group Ltd provides an alternative credit facility—pawnbroking for better assurance and peace of mind. It allows eligible pawners to receive hassle-free instant loan cash without credit checks.

Learn more about ValueMax and its services offered. Here is a brief discussion about the company.

Table of Content

ValueMax Company 

What Does ValueMax Holdings Ltd Do?

How ValueMax Pawnshop Pte Ltd Works?#ltdworks

What are ValueMax Pawnshop Branches?

Frequently Asked Questions

valuemax

ValueMax Company 

ValueMax holds one of the oldest and best-established pawnbroking chains in Singapore. It was founded in 1988 by Mr Yeah Hiang Nam and steadfastly serves many communities in the country. It stands with its mission, which is to provide professional, reliable, and sincere financial services at excellent value for each customer.

In 2004, the ValueMax brand launched. It revolutionised the look and feel of pawnshops. With its new concept, the pawnbroking chain became popular.

ValueMax offers different services that anyone can avail of. It provides pawnbroking, secured moneylending, and retail and trading pre-owned items such as luxury timepieces, jewellery, and gold.

The Company boasts of its expert valuation and reliable services. If ever you think of earning from your precious items like selling, pawning, or buying, ValueMax is a great option.

Another excellent asset of ValueMax properties is its stores’ convenient location island-wide. You can take advantage of their network products and services wherever you are.

As one of Singapore’s progressive and earliest pawnbrokers, ValueMax always applies technology. Now, it offers online services such as valuation and renewal. You can begin the journey of pawnbroking at your fingertips.

Awards and Certifications

ValueMax is the first company to be enlisted in the Singapore Exchange Mainboard. From this achievement, the company continuously strive to attain other recognitions.

2018 – Singapore Quality Class

Service award for commitment towards business quality excellence.

2019 – E.Y. Entrepreneur Of The Year Award

Recognition for Mr Yeah Hiang Nam’s contributions to society and the economy

2019, 2020, 2021, and 2022 – The Edge Centurion Club

In Retailer Category for Growth in PAT for over 3 years

2020 and 2021 – Singapore Corporate Awards

Recognition for Corporate Excellence and Resilience Award

What Does ValueMax Holdings Ltd Do?

If you ever wonder how ValueMax Company can assist you financially, look at its services. From here, you can choose which is suitable for your needs.

gold jewelries

Pawnbroking

Present your luxury items for valuation for any branch and receive the highest value. Your pledged timepieces and gold are secure. The pawn shop in Singapore maintains your item’s original condition. You can renew your contract for another six months or redeem it any day within the six-month contract period.

Moneylending

This ValueMax service is subsidised licensed moneylending from VM Credit Pte Ltd. It has loan products and services that aid in financing your personal and corporate investment needs. Its offerings include Private Financing, Property Mortgage Loans, Unsecured Personal Loans, and Dealership Financing.

Retail of Jewellery and Watches

ValueMax Jewellery and Timepieces is an online shop with the best money value offered. Every piece has 100% authenticity. You can see and try their items before purchasing. Plus, it provides hassle-free returns.

Gold and Precious Metal Trading

With its long years of service, ValueMax is an abundant trading experience for precious metals. It has competitive trading prices make them garner loyal clients. The company sells scraps of gold with various purities, silver, and platinum. Also, it accepts preloved jewellery, diamonds, stones, and luxury timepieces. However, it only sells fine gold and gram bars and scraps of gold bars.

How ValueMax Pawnshop Pte Ltd Works?

With their highly experienced appraisers, ValueMax became more popular for its pawn shop services. Singapore Citizens and Permanent Residents seek financial assistance during tough economic moments.

How can you maximise their service?

Here is a brief discussion of how ValueMax pawn shop works.

valuemax pawn shop

What is the Process of ValueMax Pawnbroking?

ValueMax Pawn Shop offers quick and easy loans for every eligible pawner. You can borrow money from them without worrying about credit checks.

Step 1. Visit ValueMax Pawn Shop. The process begins when you bring your pawnable articles to any ValueMax store. The qualified appraiser will assess and authenticate your items. Afterwards, an experienced appraiser will make an offer based on their valuation.

Step 2. Receive your Pawn Ticket and Cash. Decide whether you will take their offer or not. You can turn your precious gold necklace into instant loan cash if you agree.

Step 3. Redeem your Pawned Valuables. You can pay off your pawned item within six months. Or you can renew your loan through interest payment.

What does ValueMax Invest in?

ValueMax accepts a variety of collaterals. You can bring the following precious articles to ValueMax pawn shop for appraisal.

  • All kinds of gold
  • Jewellery
  • Luxury timepieces
  • Luxury writing instruments like pens
  • Loose diamonds

What are the ValueMax Pawning Requirements?

If you decide to pawn your valuables at ValueMax Pawn Shop, you must bring the following.

Pawnable Item. Your article must fall into the list of acceptable items of ValueMax. It ensures your approval for your transaction for instant loan cash.

Proof of Identity. If you’re a Singaporean or Permanent Resident, you need your Identity Card. But your passport or foreign document is essential if you’re a foreigner working or residing in Singapore.

In addition, your ID must indicate that you are at least 18 years of age to make a transaction.

These two are basic and easy to find. And it proves how pawning with ValueMax is indeed convenient.

How Much is the Maximum ValueMax Interest Rate?

ValueMax is a licensed pawnbroker that abides by the law. Its interest rate is 1.5% per month or a part thereof on your principal loan amount. However, there is an additional monthly interest if your redemption period lapses.

Therefore, ValueMax has a maxim annual percentage for an interest rate of 18%.

How Does ValueMax Online Valuation Works?

ValueMax pawnshop boasts of its accessibility and convenience. Thanks to technology, you can start your pawning adventure anytime, anywhere. You only need a computer or mobile phone, a strong internet connection, and a captivating photo of your beloved item. Here’s what to do.

Step 1. Complete the online application. Fill out the online form from the ValueMax Online Valuation website.

Essential details include your name, email address, and contact number. Then, choose which category your article belongs—Gold Bars and Coins, Jewellery, Luxury Timepieces, or Luxury Pens. Afterwards, specify more information about your items, such as weight, purity, brand, etc. Lastly, review all the details you entered. If you wish to add another entity, you can. When you have confirmed everything, click the button “Finish Application.” 

Step 2. Response from ValueMax. After sending your application for valuation, ValueMax will contact you within one working day. The Company will provide an estimated offer about your item.

Step 3. Take valuables to any ValueMax branch. Schedule an appointment at any ValueMax store island-wide if you have no violent reaction. Bring articles with you for an accurate valuation.

Step 4. Agree with the final offer. Weigh whether you’ll accept ValueMax’s professional appraiser. Note that the final quote is from the in-person assessment of your valuables.

Step 5. Receive your instant cash loan. You can get your quick cash from ValueMax. Your pledge is kept safe and secure inside the well–equipped ValueMax pawn shop. Its reinforced safes have alarm systems and 24-hour surveillance cameras.

Step 6. Repay for your pledged item. If you wish to redeem your possession, be diligent in your payment. This way, you can bring home your pledge or renew it if needed.

What is ValueMax Online Renewal?

You can renew the service if you still prefer to entrust your precious bracelet to ValueMax. You can skip the hassle of a store visit by renewing your pawn ticket online. Here’s what to do.

Step 1. Register for the Online Renewal Service. The renewal service only applies to customers who provided their mobile numbers and emails during the initial pawnbroking process.

Step 2. Check for the registration email. You will receive an email—“Your ValueMax E-Services Account.” You can check the Promotion, Advertisement, Spam, or Junk folders.

Step 3. Click the registration link. The registration email contains a link and instructions on how to get started with your renewal. Also, it has your initial login credentials for your account.

Step 4. Log in to your account of ValueMax Online Renewal Service. Access your user account and change the password into a strong one you can easily remember. Follow the succeeding steps on how you can renew your pledged item.

ValueMax protects customers’ privacy and information. You cannot request for creation of a user account online. Instead, you must visit the ValueMax outlet where you pawned your article.

 Related Article: Quick Guide: Understanding Maxi-Cash Pawn Shop Singapore

What are ValueMax Pawnshop Branches?

ValueMax pawnshops are available anywhere you go in the country. So whether you’re out for vacation or residing in the area, you can surely leave your possession behind for extra quick cash. Most importantly, you wouldn’t miss your financial obligation.

valuemax branch

Main Branch

  • ValueMax Waterloo Centre

North Region

  • ValueMax Admiralty Place
  • ValueMax Ang Mo Kio Central
  • ValueMax Ang Mo Kio Avenue 1
  • ValueMax Bishan
  • ValueMax Hougang
  • ValueMax Kovan
  • ValueMax Punggol MRT Station
  • ValueMax Rivervale
  • ValueMax Sengkang Kopitian Square
  • ValueMax Sengkang MRT Station
  • ValueMax Serangoon Central Drive
  • ValueMax Woodlands MRT Station
  • ValueMax Woodlands Vista Point
  • ValueMax Yishun Central
  • ValueMax Yishun Chong Pang
  • ValueMax Yishun Junction 9
  • ValueMax Yishun Street 22

Central Region

  • ValueMax Balestier
  • ValueMax Boong Keng
  • ValueMax Bugis Village
  • ValueMax Havelock
  • ValueMax Lucky Plaza
  • ValueMax Lucky Plaza 2
  • ValueMax People’s Park Centre
  • ValueMax Tekka Centre
  • ValueMax Toa Payoh Central

East Region

  • ValueMax Aljunied
  • ValueMax Bedok North Street 11
  • ValueMax Bedok Town Centre
  • ValueMax Joo Chiat
  • ValueMax Pasir Ris Drive 6
  • ValueMax Pasir Ris MRT Station
  • ValueMax Tampines Central
  • ValueMax Tampines Eastlink Mall
  • ValueMax Tampines Round Market
  • ValueMax White Sands Mall

West Region

  • ValueMax Boon Lay
  • ValueMax Boon Lay MRT Station
  • ValueMax Bukit Gombak
  • ValueMax Bukit Batok East
  • ValueMax Choa Chu Kang Centre
  • ValueMax Jcube
  • ValueMax Jurong Point
  • ValueMax Jurong West
  • ValueMax West Mall

ValueMax strategically placed its stores to reach everyone in need of urgent financing. You can pawn or sell your gold to any of these branches.

However, only some have luxury articles to pawn. If you need quick online cash but have no collaterals to risk, you can seek a trusted lending company in Singapore.

Cash Mart offers a low-interest personal loan. You can apply online and receive an instant cash loan without the agonising waiting game. As a result, you can meet your financial obligation fast and convenient.

Frequently Asked Questions

 

Can I pay my interest to another ValueMax branch?

Yes. You can repay your interest and renew your pledges to any store of ValueMax.

What are the consequences if I don’t make a timely payment?

Paying your loan amount in ValueMax can be in full or in instalments, although you don’t have to pay all at once. If you choose an instalment, your repayment holding period extends for another six months.

However, your beloved item will be forfeited if you miss your pledge renewal or redemption after six months.

How can I redeem my items?

You can only redeem your pledged article after paying the principal loan amount and the accrued interest. In addition, you need to present the pawn ticket and identification card.

Can others redeem the pawned items on my behalf?

Yes. Your authorised family or friend can redeem your pawned items on your behalf. But they must have the pawn ticket, the representative’s identity card or work permit, the pawner’s identification, and an authorisation letter.

What to do with the lost pawn ticket?

You can request a replacement pawn ticket from the ValueMax branch you pawned your item. You must pay a processing fee of SGD 10 for each replacement pawn ticket. The charge is inclusive of 7% GST.

Quick Guide: Understanding MoneyMax Pawn Shop Singapore

Best Licensed Money Lenders Singapore

Quick Guide: Understanding MoneyMax Pawn Shop Singapore

Getting to know more about MoneyMax Pawn Shop Singapore

Have you ever faced a financial dilemma and had no one to turn to? It is devastating to be left alone, especially during trying times. Who will you ask for money assistance?

Through the years, Moneymax continuously helped and guided Singaporeans, Permanent Residents, and foreigners. It commits to providing the best value to each customer.

In addition, Money Max has competitive payouts that ensure every client gains a fair price. Regardless if your item is pre-loved or brand new, the company will take good care of it.

Furthermore, MoneyMax boasts of its team. It is composed of professional valuers equipped with years of valued experience. That’s why the company offers one of the best valuations in the country.

Moreover, its services do not limit to pawnbroking only. It caters to all possible financial aid any locals and expats need. No wonder you can read much positive feedback about them.

It is truly fascinating how a single company can assist you in many ways, just one. Nevertheless, the company does not stop there. Learn more about what Money Max can offer as you read along.

Table of Content

MoneyMax Company Background

What are MoneyMax Services Offered?

How MoneyMax Pawn Shop Works?

How to Use MoneyMax Mobile App?

What are MoneyMax Pawn Shop Branches?

How to Sell Luxury Bags, Watches, and Gold Jewellery in MoneyMax?

Frequently Asked Questions

moneymax

MoneyMax Company Background

MoneyMax Financial Services Ltd. started in 2008. Often, it is addressed as the Money Max, the Company, or the Group. It is an innovative yet customer-centric company that pawnbrokers, retail, and trade pre-owned luxury items.

Through years of financial service, MoneyMax expanded to 90 outlets in Singapore and Malaysia. That’s why it is known as one of the largest and most trusted pawnbroking chains.

By 2015, the Company and its progressive exploration of opportunities launched MoneyMax Online. It became the country’s first pawnbroking chain with an online platform. Their latest innovation allows you to shop, sell, and appraise your valuables while sitting comfortably at home.

In the following year, 2016, the Company set in motion a new 916 Love Gold Jewellery Collection, which is available in all outlets. You can look at a broader range of jewellery and gold options on top of their pre-owned offerings.

In the same year, Money Max collaborated with the People’s Republic of China for a joint venture in providing financial leasing services. It specifically took place in Chongqing, PRC.

By 2017, the Company entered the Tokyo Stock Exchange-listed Aucnet Inc. It aimed to develop Singapore’s first online LIVE B2B auction platform. It focuses more on gold and diamond goods and luxury branded merchandise.

In 2018, Money Max ventured to another financial service—automotive. With its MoneyMax Leasing and MoneyMax Assurance Agency, you can achieve your dream goal for a vehicle.

That year, Money Max had its first intellectual property jewellery series—Peppa Pig. The first one is in ASEAN. As a result, it became a hit for many.

Awards and Recognitions

In 15 years, MoneyMax won multiple awards. These are:

2013 – Singapore Prestige Brands Award and Overall Winner Award for Promising Brands

2015 – The Most Popular Brand Award for Established Brands and inducted into the Hall of Fame

2020 – Singapore’s Fastest Growing Company by The Strait Times

What are MoneyMax Services Offered?

The Company made its name in Singapore since it can cater to almost all sorts of financial needs. Residents and foreigners can enjoy the list of services available offered by Money Max.

gold

Pawnbroking

MoneyMax pawn shops allow you to turn your precious items into instant cash. If you have diamond or gold jewellery, gemstones, luxury timepieces or bags, you can bring it to any MoneyMax Pawn shop. With its systematic and accurate assessment, you can take home the quick cash you need.

Value Now

The Company has a team valuing jewellery, diamonds, gold, luxury bags, and watches. If you take your items, you can get exceptional value for them. It won’t underestimate your goods. You won’t have a second thought about selling your items.

Jewellery

If you’re looking for the most suitable gift for your partner at an affordable price, you can check MoneyMax Jewellery. It has retail outlets with a wide array of brand-new gold collections of 916 and 999. In addition, you can shop for other accessories like pearls, diamonds, and fine jewellery at a reasonable price.

Also, you can choose from pre-owned luxury items like timepieces, bags, leather, and fine jewellery.

Car Financing

As stated above, Money Max ventured into financing automotive purchases. MoneyMax Leasing offers COE (Certificate of Entitlement) and Car Financing solutions. It caters to more than just interested customers. Instead, it bridges you to car dealer companies as well.

MoneyMax Renewal COE Financing has the best attractive rates and flexible monthly repayment. In addition, it has fast online loan approval with a loan tenure that can last up to 7 years. It will surely give you a hassle-free experience to get on the road to drive.

Insurance

In partnership with Money Max Leasing, Money Max Assurance Agency was made. It offers general and extensive insurance services—essential protection up to comprehensive coverage like fire and acts of theft.

Their motor and car insurance coverage includes vehicles purchased through Car Financing. If you prefer less hassle securing your vehicle, take advantage of their service.

Auction

With SG e-Auction, you can buy and sell your precious articles conveniently and confidently. Thanks to state-of-the-art technology, you can reach a wide range of traders. Since the auction is now available online, you can make real-time live electronic bids.

Through the MoneyMax platform, you can determine your product condition in stringent grading scales. It ranges from A, B, C, D, and S grades. Interior and exterior quality assessments are from highly-experienced valuers. That’s why you have the peace of mind that all transactions are safe and secure.

Money Max truly deserves its recognition. Its various financial services allow you to cope with your neverending challenges.

How MoneyMax Pawn Shop Works?

Despite the numerous services MoneyMax has, it created a big name for its pawnshops. Many locals and even foreigners bring their beloved valuables to them. It is prevalent, especially during challenging financial times.

But what does MoneyMax pawn shop do?

Here is a brief explanation of how their pawnbroking works, how you can apply for it, and the fees that entail with it.

moneymax pawn shop

The Process of MoneyMax Pawnbroking

MoneyMax Pawn shop is simple. It is a fast, stress-free financial solution suitable for your short-term cash demand.

If you have valuables like gold, gemstones, diamond, or luxury watches and bags, you can receive instant cash in no time. No more need to worry about tedious forms and agonising credit checks. Most importantly, approval no longer takes much of your time.

MoneyMax pawn shop has a safe yet more extended redemption period. You can claim your pledged items for up to 6 months. Or you have the option to pursue MoneyMax Renewal.

Your precious necklace stays inside their vault for safekeeping. It means your pawned items will not be sold while it is within the redemption period. Nevertheless, you can redeem it once you repay your loan at any MoneyMax Pawn Shop branch.

Are you interested in pawning your beloved gold earrings?

Follow the guide below.

Step 1. Bring your prized possession and Identity Card to any MoneyMax Pawn Shop.

Step 2. The appraisal procedure will take place. The experienced valuer will propose a loan amount.

Step 3. Agree with the valuation and claim your instant cash.

Step 4. Renew or redeem your pledge valuable within the redemption period. Remember that you can repay anytime as long as it is within the required amount.

Important Reminder:

The loan amount for your pawned item does not have a guaranteed market value for your pledged article. It is only subjected to Money Max personnel’s judgement of the value. Also, remember that your creditworthiness as a customer plays a crucial part in it.

What if you end your redemption period and still struggle with money?

You can request to re-pledge the same item. You don’t have to take a different golden accessory to create a new transaction. Instead, you have to do this.

Step 1. Discuss your plan to re-pledge with MoneyMax staff. Your items will pass through another valuation and inspection round as it serves as another transaction.

Step 2. Consider the pawnbroker’s prerogative whether they will accept the re-pledged item or not.

Step 3. Expect the difference in the loan amount from your previous transaction. It is always subject to change. The forecast of your pawned article depends on the time of valuation. The continuous fluctuations in the prevailing gold price are a significant factor.

What are the Requirements for Pawn?

MoneyMax Pawn shop is known to be easy since you only need to bring your beloved possession and Identification Card.

Singaporeans and Permanent Residents must present their National Registration Identity Card (NRIC). Meanwhile, foreigners must have a Work Permit for pawnbroking to push through.

In addition, you need to bring a purchase receipt or guarantor as proof. But it is only necessary if your instant cash loan exceeds SGD 200.

How Much is MoneyMax Interest Rate?

Money Max abides by the law when it comes to interest rate computation. It includes the pawned loan amount, loan months, and a rate of 1.50% per month. The basis of your interest is on full-month.

As of this writing, MoneyMax provides a 1% Interest Promotion. However, it is only valid in the following situations:

  • You redeem your pledge within the first month or renew it monthly.
  • You redeem or renew your pledge in the second month. It means the first-month interest rate is 1%, while the second-month interest rate is 1.5%.

If you wish to avail of the MoneyMax interest rate promotion, you must redeem or renew your pledge.

In addition, the value of your pledge must be $750 and above.

What are MoneyMax Fees and Profits?

MoneyMax Pawn shop charges only permitted profit and fees. If you plan to pawn your diamond ring, you will have to be aware of the following fees.

Interest Rate. You have a maximum interest chargeable is 1.5% monthly or a part thereof.

Pawn Ticket Charge. You have a chargeable of $2 every time a pawn ticket is issued.

Pawn Ticket Replacement Fee. If you lose your pawn ticket, you will pay a processing fee of $10 as a replacement.

Bear in mind these fees to avoid incurring any penalty. Moreover, keep your pawn ticket safe since it is vital in redeeming and renewing your pledged article.

How to Use MoneyMax Mobile App?

The All-in-One MoneyMax e-Services App is convenient and easy to use. It offers a seamless online valuation and shopping experience with just a tap of your finger. Also, you can manage your pawn interest payments and retail instalments with just your mobile device.

moneymax pawn shop mobile app

Best Features of Money Max e-Services

MoneyMax mobile app is the next best thing that Money Max developed. Its topmost features are:

Smooth Shopping Experience. You can buy the bags, timepieces, and jewellery you love through the e-store. No need to queue just to avail the best price offered. With the mobile app, you can get exclusive deals wherever you are.

Valuation Online. You can figure out how much the worth of your gold, jewellery, timepiece, and bag without second guessing. The online valuation portal gives you access to get quotes from experts.

Trouble-free Payment. You can renew your pawn tickets without going to the nearest Money Max branch. Also, you can pay your instalments diligently online with your debit cards and the PayNow platform.

Steps to Register for MoneyMax Login

To enjoy the benefits the MoneyMay app offers, create your account first. Here’s what to do:

Step 1. Download the mobile app from App Store (iPhone) or Google Play (Android).

Step 2. Tap on Register.

Step 3. Enter your name, active email address, and mobile number. Then, click Continue.

Step 4. Enter the One Time Password (OTP). Then, click Proceed.

Step 5. Verify the information and sign. Then, click Submit.

Step 6. Wait for a notice that states your registration is successful. Check your email for login credentials.

Step 7. Change the initial password into a stronger one that you can easily remember. Then, you’re done!

Steps to Pay Retail Instalment

Avoid overdue payments by paying your instalment online. Here’s what to do:

Step 1. Login to your MoneyMax account.

Step 2. Enter the OTP.

Step 3. Click on Instalment.

Step 4. Choose the instalment ticket you wish to pay.

Step 5. Enter the instalment amount. Then, click Confirm.

Step 6. Check all the details. Once good, click Proceed to Pay.

Step 7. Choose your mode of payment.

Step 8. Wait for the confirmation that your transaction pushed through.

Steps to Pay Pawn Interest

Don’t let your pawned valuables slip away by paying your pawn interest on time. Here’s what to do:

Step 1. Log in to your Money Max account.

Step 2. Enter the OTP.

Step 3. Select Pawn Ticket to view your active pawn ticket.

Step 4. Select the pledges you wish to pay.

Step 5. Check all the details. Once good, click Proceed to Pay.

Step 6. Choose your mode of payment.

Step 7. Scan to Pay with PayNow.

Step 8. Wait for the confirmation that your transaction pushed through.

Steps to Reduce Loan

If you want to decrease the loan amount you wish to repay, here’s what to do:

Step 1. Log in to your MoneyMax account.

Step 2. Enter the OTP.

Step 3. Select Pawn Ticket. 

Step 4. Choose the ticket and click Down-Loan.

Step 5. Enter the new pledge amount. Then, click Confirm.

Step 6. Check all the details. Once good, click Proceed to Pay.

Step 7. Choose your mode of payment.

Step 8. Wait for the confirmation that your transaction pushed through.

Steps to Activate MoneyMax e-Renewal Account

If you want to reactive your account to renew your pledge, here’s what to do:

Step 1. Sign in with your User ID and initial password.

Step 2. Enter the OTP.

Step 3. Change your initial password and user ID.

Step 4. Select the pledges you wish to renew.

Step 5. Check all the details. Once good, click Proceed to Pay.

Step 6. Choose your mode of payment.

Step 7. Wait for the confirmation that your transaction pushed through.

You can do almost every transaction with your MoneyMax mobile app. However, it is crucial that you keep your OTP to yourself to avoid future problems.

Related Article: Where to Find the Best Pawn Shops Near You

Where are MoneyMax Pawn Shop Branches?

The Company grew big in name and number in Singapore. It is in almost all parts of the country. Wherever you may be, you can inquire with them or repay your loan without fuss. Here are the locations where you can find MoneyMax pawn shops.

moneymax outlet

North Region

  • MoneyMax Pawnshop Ang Mo Kio
  • MoneyMax Pawnshop Causeway Point
  • MoneyMax Pawnshop Chong Pang
  • MoneyMax Pawnshop Hougang Mall
  • MoneyMax Pawnshop Hougang
  • MoneyMax Pawnshop Kovan Central
  • MoneyMax Pawnshop Marsiling MRT
  • MoneyMax Pawnshop Northpoint City
  • MoneyMax Pawnshop Rivervale Plaza
  • MoneyMax Pawnshop Sembawang MRT
  • MoneyMax Pawnshop Sengkang Grand Mall
  • MoneyMax Pawnshop Yew Tee MRT
  • MoneyMax Pawnshop Waterway Point
  • MoneyMax Pawnshop Woodlands MRT

Central Region

  • MoneyMax Pawnshop Bendemeer
  • MoneyMax Pawnshop Bishan MRT
  • MoneyMax Pawnshop Bukit Merah
  • MoneyMax Pawnshop Little India
  • MoneyMax Pawnshop Lucky Plaza #01-65/66
  • MoneyMax Pawnshop Lucky Plaza #02-77
  • MoneyMax Pawnshop Lucky Plaza #B1-04/05
  • MoneyMax Pawnshop NEX
  • MoneyMax Pawnshop People’s Park Complex
  • MoneyMax Pawnshop Redhill
  • MoneyMax Pawnshop Serangoon 81
  • MoneyMax Pawnshop Serangoon 93
  • MoneyMax Pawnshop Tanjong Pagar Plaza
  • MoneyMax Pawnshop Tekka Centre
  • MoneyMax Pawnshop Toa Payoh

East Region

  • MoneyMax Pawnshop Bedok
  • MoneyMax Pawnshop Geylang
  • MoneyMax Pawnshop Joo Chiat Complex
  • MoneyMax Pawnshop Paya Lebar MRT
  • MoneyMax Pawnshop Tampines MRT
  • MoneyMax Pawnshop White Sands Shopping Centre

West Region

  • MoneyMax Pawnshop Boon Lay
  • MoneyMax Pawnshop Bukit Gombak
  • MoneyMax Pawnshop Bukit Panjang Plaza
  • MoneyMax Pawnshop Choa Chu Kang MRT
  • MoneyMax Pawnshop Clementi
  • MoneyMax Pawnshop IMM Shopping Mall
  • MoneyMax Pawnshop Jem Shopping Centre
  • MoneyMax Pawnshop Jurong East
  • MoneyMax Pawnshop Jurong East MRT
  • MoneyMax Pawnshop Jurong Point Shopping Centre
  • MoneyMax Pawnshop Jurong West
  • MoneyMax Pawnshop Zheng Hua

You surely won’t miss a repayment. Aside from having a mobile application, MoneyMax is also everywhere.

How to Sell Luxury Bags, Watches, and Gold Jewellery in Money Max?

Did you fall out of love with your luxury items? Are you worried you haven’t got your money’s worth?

Worry no more. MoneyMax is not all about pawning. It can also be your platform to earn cash from your beloved possessions.

louis vuitton

Why Sell in MoneyMax?

Many Singaporeans earn extra cash from pre-owned luxury accessories, bags, and watches. It is all thanks to Money Max. But why should you trust your precious items to them?

Here are the top three reasons why.

A Trusted Partner. Money Max is a licensed pawnbroking chain in Singapore. It has an extensive network in the industry. No wonder it has over 70 stores network in Singapore and Malaysia.

More Than 20 Years of Experience. MoneyMax consists of a team of highly-experienced valuers that have years of valuing luxury timepieces and bags, diamond jewellery, and gold. Their vast knowledge and skills offer the best valuation most customers receive.

Instant Cash Payout. Selling out your items in Money Max is hassle-free. You can receive your quick cash from your special pre-owned items fast. Plus, it is time-saving since you don’t have to line up to get your valuables assessed.

Competitive Price. MoneyMax commits to serving the best value to all customers. It provides a competitive payout that ensures all clients receive the most appropriate deal for their pre-owned stuff.

Steps to Sell Luxury Bags

To secure that buyers and sellers receive authentic designer bags, Money Max started making luxury accessible and available to everyone.

Selling out your bags is not just gaining instant cash. It also gives you more free space at home. This way, you can purchase new items and secure a safe slot for them.

Here’s what to do.

Step 1. Snap a photo of your luxury bag.

Step 2. Submit a clear picture of the bag on the MoneyMax website. You may use your desktop or mobile phone for online valuation enquiry.

Step 3. Get a free estimated quote for your bag. The experienced valuer will send it to you.

Step 4. Accept the quote offered if reasonable.

Step 5. Bring the pre-owned bag luxury to the MoneyMax outlet.

Step 6. Claim your cash payment.

What bag brands does MoneyMax accept?

Burberry, Celine, Chanel, Dior, Fendi, Gucci, Hermes, Louis Vuitton, Prada, and more are acceptable bag designer brands.

What factors affect a fair valuation?

The current bag condition is the primary factor. But the original retail value and current fashion trends take a significant effect.

It’s that easy. You get to secure that your precious bag is in good hands. Most importantly, you receive the best value suitable for it.

Steps to Sell Luxury Watches

Selling your expensive timepieces is a complex and confusing procedure. MoneyMax makes the process and transactions more simple and fair for all sellers. Here’s what to do.

If you sell your precious watch, you earn instant cash and finance your next purchase. Here’s what to do.

Step 1. Snap a photo of your luxury watch.

Step 2. Submit a clear picture of the watch on the official website of MoneyMax for online valuation.

Step 3. Get a free estimated quote for your bag. The experienced valuer will send it to you.

Step 4. Accept the quote offered if reasonable.

Step 5. Bring the pre-owned watch luxury to the MoneyMax outlet.

Step 6. Claim your cash payment.

What watch brands does MoneyMax accept?

Audemars Piguet, IWC, Omega, Rolex, Panerai, Patek Philippe, Tag Heuer, and more are acceptable timepiece brands.

What factors affect a fair valuation?

The current watch condition is a determining factor for a fair and competitive valuation. But you also have to present the box and certificate. The current market data is another essential detail to consider.

Steps to Sell Luxury Jewellery

If you feel your gold bangles have gone out of style, sell them on MoneyMax. You can turn your beloved jewellery into extra financing you never thought you needed.

You can purchase new jewellery that fits that latest trend by selling your precious pre-owned gold article. Just contact a trusted pawnbroker and trader of pre-owned jewellery items in Singapore.

Here’s what to do.

Step 1. Snap a photo of your luxury accessory.

Step 2. Submit a clear picture of the gold jewellery on MoneyMax for online valuation.

Step 3. Get a free estimated quote for your bag. The experienced valuer will send it to you.

Step 4. Accept the quote offered if reasonable.

Step 5. Bring the pre-owned gold luxury item to the MoneyMax outlet.

Step 6. Claim your cash payment.

What kind of jewellery does MoneyMax accept?

MoneyMax accepts gold jewellery like earrings, necklaces, pendants, and rings.

What factors affect a fair valuation?

The quality of your gold jewellery, like weight and purity, are vital factors in giving a competitive valuation.

MoneyMax Value Now is the next best feature of the company. Aside from being a pawnbroker, Moneymax is an experienced valuer and trader for your pre-owned items.

But what if you don’t have any expensive articles to pawn or sell? How can you cope with your need for urgent cash?

Fortunately, you can apply for a low-interest personal loan in Singapore. Cash Mart approves quick cash collateral free—no need to leave your prized possession behind. Check out their online lending products and services. See how a licensed moneylender can assist you.

Frequently Asked Questions

Is it worth it to sell luxury items via MoneyMax?

Yes. MoneyMax has a team of experts with numerous years of experience valuing luxury articles. It assures you that you trusted the correct pawnbroker and trader.

Can I sell my wallet to MoneyMax?

Yes. MoneyMax approves cash payouts for pre-owned luxury items. It includes accessories, bags, wallets, and watches.

How long does a pawn loan take?

If you have no time to visit any MoneyMax store, you can process it online within 3 minutes. You can get an estimated value within 3 business days with the online valuation service.

What to do if I lose the pawn ticket?

You must get a replacement ticket from MoneyMax immediately. You can visit the store with your Identity Card and pay the replacement ticket processing fee.

Can I repay at another MoneyMax outlet?

Yes. MoneyMax has a dedication to providing maximum convenience. Their Inter-Store MoneyMax Renewal Service allows you to pay interest at any outlet islandwide.

Are my luxury items safe in MoneyMax?

Yes. MoneyMax offers insurance to your valuables while they are being kept in their vault.

Can I still redeem my pledge after it expires?

No. According to the Pawnbroker’s Act, the redemption period for a pledged collateral is 6 months.

Do I still need to visit a physical store to complete a transaction?

Yes. The valuers need to inspect and appraise your article in person. But you can still start the process conveniently at home with the online valuation portal.

Is pawning and selling the same?

No. Pawning allows you to get quick cash from your valuables and redeem it within 6 months. You can still hold onto its sentimental value once you repay it and its interest. Meanwhile, selling is exchanging your pre-owned watch, bag, and jewellery for cash.

Best Pawn Shops Near You

Best Licensed Money Lenders Singapore

Where to Find the Best Pawn Shops Near You

Need quick cash but don’t know where to go?

When we require extra financial assistance, we usually turn to friends and family for help. We sometimes explore other options, such as bank loans and legal money lenders. However, we tend to overlook the possibility of pawn shops as another alternative.

If you’re in Singapore and looking to pawn some valuables, it’s important to be cautious. Don’t rush into pawning with the first pawnbroker you come across. Researching and choosing wisely is crucial, or you could lose your beloved possessions or pay an exorbitant amount to retrieve them. Protect yourself from falling prey to fraudulent pawn shops by educating yourself about licensed pawn shops.

This article can provide you with more information on how they operate.

Table of Content

How Pawn Shop Works

Pawn Shops Near You

List of Panwshops in your Location

How to Get an Instant Cash Loan from Pawn Shops

What is a Pawn Ticket?

Quick Tips for Finding Legit Pawnbrokers

How Pawn Shop Works

We often associate pawn shops with leaving our treasured possessions in exchange for cash. But there’s more that you need to know about it.

how pawn shops near near me work

Pawn Shop Singapore

Pawn shops in Singapore are not only for getting cash in exchange for a valuable item to bridge a financial gap. It is a practical way of decluttering. You can sell valuable items instead of throwing them away and get instant cash, especially during challenging financial moments.

The Pawning Process

Pawn shops operate on a straightforward premise. You provide an item of value as collateral, and the pawnbroker will provide a loan based on its worth. You may retrieve your item upon repayment of the borrowed sum plus interest.

An appraiser will verify your precious item in their pawn shop. If you bring jewellery, silver, or gold, they will assess if it is genuine or just an imitation. Your jewellery undergoes close examination. They check its weight and use a magnifying glass to see its authenticity and look for any damage. This way, the appraiser can determine the market value of the pledge, but on its second-hand retail price.

The cost of your item is affected by several factors.

Economic Trend. Jewellery and gold are greatly affected by the fluctuating trend. A pawnbroker needs to predict the future value to avoid loss.

Edition. Pawn shops check if your designer bag or watch is from a limited edition. If it is, you can claim a higher loan amount. If not, expect a lower value.

Buy and sell website. With online services, a pawn shop now considers reviewing what internet. This way, they can compare the current prices offered to the public.

Quality. Most importantly, your valuables get scrutinised by an expert from the pawn shop. If you have gems or silver, they look into its weight, metalwork, cuts, and rarity.

Sentimental value. Although not all pawnbrokers check this aspect, some pawnshops still use it. You might get a higher value if you have a high emotional attachment to your pledge. It is because you have a higher drive to redeem it, which is a gain from pawn shops in Singapore.

Ownership. When you pawn an item, you must prove that you own it. If you fail to do it, the pawnbroker will suspect it was stolen or acquired illegally. Instead of receiving a cash loan, you might end up getting detained. Or worse, your item will be considered suspicious and undergo a police investigation.

Once your pawned item receives its equivalent value, you can get a loan and use it for whatever purpose. But don’t forget that you still have to pay it back with interest. You cannot retrieve your items if you fail to repay your instant cash loan.

If you borrow money from licensed pawn shops, you take a risk. But a whole part of it depends on your ability to repay. To retrieve your designer watch, you must be diligent with your payments.

Pawnbrokers Act

If you cannot repay your pawnshop loan, your pledged item will be forfeited and become the property of the pawnshop. They have the discretion to either keep it for safekeeping or sell it. However, in most cases, they will need to recover the lent amount and thus sell the item to someone else.

As per the Pawnbrokers Act revised in April 2015, a pawn shop cannot auction off unredeemed items but can sell them.

Failing to repay your loan within six months would mean bidding farewell to your cherished possession. Therefore, if you have a strong emotional attachment to your pledged item, settling the loan is advisable. However, if you can meet the repayment deadline, reclaiming your belongings will be hassle-free.

Pawn Shop Gold Price

Gold is one of the most tried and tested investments available. Its highly valuable asset allows you to have a strong return in the future. Even though the market remains volatile, gold is still the safest investment form in the country.
If you are in dire need of money but have gold stored in your vault, you can pawn it in legal pawn shops in Singapore. It is more advantageous since it offers fair and honest appraisals from established and well-trusted buyers. Most importantly, you can get your cash on the spot. There’s no more agonizing waiting game.

pawn shop gold price

Factors to Determine A Gold’s Value

Various pawn shops buy gold. But if you plan to sell your gold, do not stick to the first one offering to buy. You have to consider a trustworthy pawnshop that knows the best value of your gold jewellery.

To know if you are at the right pawn shop, assess if the pawnbroker is the following:

The three basic methods in determining a gold’s value.

Purity of the Gold Jewellery. The basic information needed when pawning gold is the purity rating. Check the table below.

pawn shop singapore gold price

When it comes to gold items, anything less than 24 karat is best for jewellery making as pure 24k gold is too soft. If your item is less than 99.99%, it is likely an alloy with other metals such as silver, platinum, or copper. To avoid incorrect pricing, inspecting for engravement and knowing the purity level written in your gold piece before going to any pawnshops is important.

However, selling your gold article is not solely reliant on karat. It’s also important to consider today’s gold price and weight in grams. Additionally, if your jewellery contains gems or diamonds, the pawnshop will need to determine its worth separately, as purity only accounts for the gold item itself.

Weight of the Gold Item. Determining the value of your gold can be done simply and easily by measuring its weight. A jewellery scale, measuring up to a tenth of a gram, is used by knowledgeable pawnshop experts to provide the most accurate assessment. However, it is important to note that this method may not be suitable for gold jewellery that contains other adornments. Additionally, it is worth inquiring about other precious metals you may possess, as licensed pawnshops may accept these items provided proof of ownership can be presented.

Gold Price. The price changes almost every day. If you wish to know the current market value, you may check this website.

As of today (June 23, 2023), 1 gram of pure gold is SGD 83.543.

gold price pawn shop singapore

Gold Price Calculation

If you have all the vital information about your gold, you can sell it at a more fair price.

(Weight in grams x Purity) x current market gold value = pawnable amount

Here’s an example scenario.

You have a gold necklace with an 18-karat engraved—purity is 75% (0.75) and weighs 50 grams. You have to multiply 50 by 0.75. Then, multiply the answer by the current market price of gold per gram.

(50 grams x 0.75) x SGD 83.54 = SGD 3,132.75

**Take note that the market gold price was based on the article’s written date. It may vary depending on the value of gold in the market per gram.

Pawn brokers will pay 25% and up of the gold worth. Searching for pawn shops near you with an excellent track record is best if you need quick online cash when selling your gold.

What Do Pawn Shops Buy in Singapore

Pawning offers a convenient and versatile option. It accepts a wide variety of collateral items. You can pawn any of the following:

  • Piece of jewellery (yellow or white gold, diamond)
  • Musical instrument
  • Antique material
  • Branded timepieces
  • Bars and coins (gold, platinum, silver)
  • Designer items

Pawn Shops Near You

When you pawn your beloved possession, you put it on the line. That’s why you should entrust your pledge to licensed pawnshops in Singapore. Here are the nearby pawnshops you can visit.

ValueMax Group

ValueMax is one of the famous pawnshops in Singapore that allows pawners to receive hassle-free instant loans. Its services include pawnbroking, jewellery, gold, diamond, and luxury watch goods.

ValueMax pawn shop

Maxi-Cash

Maxi-Cash is a leading pawn shop in Singapore. It offers pawnbroking as a financial service for retail and trading of good value pre-loved items. Its services include gold, timepieces, jewellery, Citigems, and designer bags.

Maxi-cash near you

MoneyMax

Moneymax provides the best value designed for its customers. It offers competitive payouts that ensure you receive a fair price for your pawned items. In addition, Moneymax has an experienced team that evaluates and provides the most accurate valuation for customers like you. Its pawnbroking services include jewellery, luxury watches, leather goods, and designer bags.

Money max near me

These three are just some of the top pawn shops found in the country. If you find other pawning shops, double-check whether it’s legit.

Related Article: Quick Guide: Understanding MoneyMax Pawn Shop Singapore

List of Pawn Shops Near Your Location

If you need urgent cash while in Singapore, visit these pawn shops. However, you must have acceptable and pawnable items to claim your loan cash.

North Region

Hougang Pawn Shop

Hougang comes from the Teochew/Hokkien dialect, which means river end. Before the 1990s, it was a pig farm. But after the farmer’s relocation, it became a famous and most populated residential area.

Hougang Pawn Shop

If you plan to move into a new city, Hougang is the best place to be. Its commercial malls include Serangoon Shopping Centre, Hougang Mall, Hougang 1, and Heartland Mall. Whatever you need, these malls got you covered.

In addition, Hougang offers community centres and sports halls. You can stay fit and active and have a healthy lifestyle in their parks. You can visit Hougang Neighbourhood Park, Punggol Park, and Realty Park Playground.

Regarding transportation, the area has multiple bus routes and integrated transport networks. These are your Hougang Central Bus Interchange and Hougang MRT Station. If you’re moving the whole family, you can choose between HDB properties and condominiums. Plus, your kids can continue their studies with the various schools present.

The best part of moving to Hougang is the availability of pawn shops. Get the best options from this list.

  • MoneyMax Group Pte Ltd
  • ValueMax Group Limited
  • Megacash Corp Pte Ltd
  • Maxi-Cash Group Pte Ltd
  • Heng Heng Pawnshop Pte Ltd

Pawn Shop Woodlands

Woodlands is a charming place to visit when you’re on vacation. It provides the most prominent tourist hotspot in Northern Singapore.

Pawn Shop Woodlands

One of Woodlands’ best offers is its proximity to Johor Bahru City. Its connection with Johor-Singapore Causeway attracts travellers, business people and more.

Woodlands houses the country’s most relaxing, only natural hot spring—Sembawang Hot Spring. Feel rejuvenated and have good times while enjoying the scenic beauty of Singapore.

Woodlands Waterfront Park is your next bet if you are a nature lover. It is an 11,000-hectare area with a tranquil coastal park. It offers a magnificent overlooking sea from the north and a wide range of playgrounds with all equipment.

Do you love fishing or fresh fish and seafood? Head to Senoko Fishery Port. The place is packed with fun activities where you can enjoy your fresh catch with friends or family.

Or are you a shopaholic or a food lover? Market Street boasts with outdoor mall filled with high-end fashion shops. On top of that, you can watch a movie, dine at world-class restaurants, or stay in a four-star hotel.

Above all these, Woodlands support your travel financially if you need additional budget while on the go. You can drop by any of these pawn shops in Woodlands.

  • Shing Heng Pte Ltd
  • VaueMax Group Ltd
  • Thye Eik Pawnshop Pte Ltd
  • Maxi-Cash Group Pte Ltd
  • Soon Yu Pawnshop Pte Ltd

Ang Mo Kio Pawn Shop

Ang Mo Kio in northern Singapore means red-haired man’s bridge from the Hokkien dialect. Meanwhile, Ang Mo is a colloquial term for Caucasians. Although Ang Mo Kio was uninhabited in the 19th century, it started to welcome settlers during the booming stage of the rubber industry. From there, a huge land area became rubber plantation estates.

Ang Mo Kio Pawn Shop

And the growth of Ang Mo Kio didn’t stop there. With its continuous development, it attracts more families. Various condominium complexes, HDB flats, and apartments are within reach. Also, the place is complete with all levels of education—primary, secondary, and tertiary.

In addition, travelling across the area is convenient with its two serving MRT stations—Ang Mo Kio and Yiou Chu Kang. You can explore and experience the site hassle-free. You can drop by Kebun Baru Birdsinging Club and savour the melodic sounds of the birds chirping.

Then you can head to one of the country’s largest and most beautiful parks—Bishan-Ang Mo Kio Park. Enjoy a day out from work or school with your family and friends. Its river has lush banks of wildflowers and green forests, a pond garden, and a rare animal view.

But if, in the middle of your tour, you encounter money trouble. No worry. Ang Mo Kio also provides lending facilities like these pawnshops.

  • Trustcare Enterprise Pte Ltd
  • Hin Fatt Pawnshop Pte Ltd
  • ValueMax Group Limited
  • Maxi-Cash Group
  • Fook Cheong Pawnshop Pte Ltd

Central Region

Toa Payoh Pawn Shop

Toa Payoh came from the Hokkien dialect, which means big swamp. Before, the area was a squatter’s district. Residents worked as hawkers, domestic helpers, factory workers, pig farmers, or mechanics. During the 1960s and 1980s, the area was famous for its vice. That’s why many crime syndicates live and operate here. But after the redevelopment program, it became one of the most accessible residential towns. From being the vice and squatter’s district, it is now the most desirable location to live in Singapore.

toa payoh pawn shop

There are many reasons why Singaporeans, citizens, and foreigners love Toa Payoh. You can stay at condominiums like Trevista, Trellis Towers, and Sky Eleven. But if you prefer to live in a residential, you can choose Gem Residences.

In addition, you can find the best hawker experience here. Your top options are Sliced Fish Soup, Ocean Curry, and Sam Soon Oyster Omelette. Then, you can cap off your palate with sweet treats at The Daily Long Press. If you prefer something warm, visit Oasis Taiwan Porridge.

Moreover, you shouldn’t miss shopping in Toa Payoh. Everything is almost available at Toa Payoh Central and Toa Payoh Market. While you’re at it, you can maximize the sporting facilities nearby. Toa Payoh Stadium, Toa Payoh Swimming Complex, and Toa Payoh Sports Hall are open to public. If you prefer a retreat instead of rigid activities, drop by Toa Payoh Town Park. You can enjoy many flora, waterfalls, and koi ponds here.

Furthermore, Toa Payoh boasts about the various financial aid present. If you have a precious gold necklace, you can pawn it at these shops.

You can have quick cash ready just as you need it in the following.
  • Thai Hong Pawnshop Pte Ltd
  • Heng Seng Pawnshop Co Pte Ltd
  • MoneyMax Group Pte Ltd
  • Min Tai Pawnshop Pte Ltd
  • Maxi-Cash Group Pte Ltd

Pawn Shop Redhill

Redhill is a mature estate on the border of the city. It came from a legendary story of a clever young boy. The kid was murdered out of jealousy for saving the entire village from swordfish. His blood flowed down and stained the hill where he lived. Thus, the name of the area.

Pawn Shop Redhill

Redhill is one of the underrated neighbourhoods in Singapore. It houses untouched nature parks from one end with a city centre on the other. If you are trying to decide where to go on a short weekend trip, Redhill offers most of what you need.

Start your itinerary with a food trip. You can find sumptuous meals at Bak Kee Teochew Satay Bee Hon, Seng Hong Coffeeshop, and Chao Yuan Gourmet. Then, treat yourself to a shopping spree of handmade products at Redhill Market. Various stalls of potters, artists, and investors are available here. It is the perfect memorabilia for your weekend getaway.

Lastly, cap your evening at Clarke Quay. It is a historical riverside city hub that stretches along Singapore banks. You can capture the scenic view of the river while dining. Also, you can avail fun, entertainment and adventurous options—extreme swing and reverse bungee. Or you can experience a romantic ride with a river cruise.

But what if you need more funds in the middle of your trip? You can check out these legit pawn shops for safe financial aid.

  • MoneyMax Group Pte Ltd
  • Fund Express Pawnshop Pte Ltd
  • Thai Onn Pawnshop Pte Ltd
  • Soon Hin Pawnshop Pte Ltd
  • Maxi-Cash Group Pte Lt

Bishan Pawn Shop

Bishan is an urban planning area in the centre of Singapore. Its name originated from Kwong Wai Siew Peck San Theng, which means a Chinese cemetery. In English, it means Pavilions on the Jade Hills. It serves the burial needs of Hakka and Cantonese immigrants from Guangdong, China.

Bishan Pawn Shop

As of today, Bishan turned into a residential area full of fantastic cafes, lush parks, and nostalgic tourist destinations. Also, it is famous for its distinctive colourful roofs. Its linkway structures elicit images of the pavilions on the green. Many move and live a new life in this part of Singapore.

One of the reasons for staying here is the numerous options of mouthwatering dining spots. You can taste the best meals and desserts at Burp Kitchen & Bar, Covet Coffee, Denzy Gelato, Sin Ming Roti Prata, Ming Kee Chicken Rice, and more.

For a relaxing yet fun exploration, you can check out these shops and parks in Bishan. You can visit Books Beyond Borders, Bishan-Ang Mo Kio Park, MacRitchie Reservoir, Aramsa Spa, Clock Playground and more.

On top of it all, Bishan houses the licensed pawn shops in the country. For emergency financial matters, you can head here.

  • MoneyMax Group Pte Ltd
  • ValueMax Group Limited

East Region

Bedok Pawn Shop

Bedok is one of Singapore’s most visited towns. It is in the eastern region with strategically planned residential houses. It is a perfect spot for peaceful living. Everything you need is nearby.

bedok pawn shop

Bedok is rich with the latest shops and malls. Some of these are Bedok Mall and Djitsun Mall Bedok. Plus, you have a lot of sumptuous restaurants nearby. You can indulge your cravings at 85 Fengshan Market, Lek Lim Nonya Cake Confectionery, Bedok Market Place, and Katong Sin Chew Bakery.

Bedok offers various activities, like watching daredevil tricks at Xtreme Skate Park and being bold and brave at Fun Forest Adventure. Also, you can appreciate the majestic view at Bedok Jetty. Then, relax your body with a full body massage at Ayur Centre.

On top of that, you have accessible pawnshops that can assist you with urgent funding needs.

Check out these pawnshops present in Bedok.
  • Lian Foong Pawnshop Pte Ltd
  • ValueMax Group Limited
  • Megacash Corp Pte Ltd Main Office
  • Shing Heng Pte Ltd
  • Maxi-Cash Group Pte Ltd

Pawn Shop Tampines

Tampines is a fast-growing tourist spot in the country. It is the third-largest town in the urban planning of the Eastern area of Singapore.

Tampines came from the indigenous Ironwood trees called “tempinis” that grew abundantly in the area. Before, it was full of swamps, forests, sand quarries, and rubber plantations. But now, it is extensively developed to cater latest trends and needs of its residents.

pawn shop tampines

If it’s your first time travelling in Tampines, you need an itinerary ready to your itinerary. This way, you won’t be overwhelmed by the different activities you can do.

If you’re up for a shopping spree, visit Tampines Mall, Century Square, and Our Tampines Hub. Get the best and tasty meals at Tampines Round Market & Food Centre. Also, you can capture the best Instagrammable spots at Tampines Central Park. In addition, you can explore your inner child in Timezone and Tampines Changkat Butterfly Garden. You can visit The Historical Tampines Chinese Temple if you opt for a quiet moment.

The best part of Tampines is the wide availability of licensed pawn shops.

Pawn your valuable article at any of these trusted pawnshops.
  • Fund Express Pawnshop Pte Ltd
  • Chye Hin Pawnshop Pte Ltd
  • Shing Heng (East) Pte Ltd
  • Hua Lian Pawnshop Pte Ltd
  • ValueMax Group Limited

Joo Chiat Pawn Shop

Joo Chiat is in eastern Singapore with a multicultural heritage. The name of the area came from Chew Joo Chiat. He is a humble harvester and trader that became a prosperous landowner, then the King of Katong.

Joo Chiat Pawn Shop

Joo Chiat is an overpopulated district with a bustling neighbourhood. Walking around it, you can encounter both old and modern Singapore. Also, you can find the best dining area, shops, and spots to explore.

You can taste their yummy treats at Micro Bakery & Kitchen, Petin Pain Bakery, and Awful Chocolate Bakey & Cafe. But if you prefer heavy meals, you can dine at Five Star Hainanese Chicken Rice, Kim Choo Kueh Chang, Ponggol Nasi Lemak and more.

If you prefer shopping, whether your needs or wants, you can. Stop by stores named Onlewo, Lavavella, A Vintage Tale, TheAC, and Singapore Trading Post. But if you want to explore more about the culture, you can allot some time. You can visit Katong Antique House, Heritage shophouses, Sri Senpaga Vinayagar Temple, The Intan, and many more.

But what most people miss is the pawnshops ready to serve qualified pawners. You can visit the following in Joo Chiat.

  • Maxi-Cash Group Pte Ltd
  • Min Lian Pawnshop Pte Ltd
  • MoneyMax Group Pte Ltd

West Region

Clementi Pawn Shop

Clementi is an old neighbourhood in the western part of Singapore. It transformed from being a swampland to one of the top thriving new towns in the country. So it’s no surprise why many locals and foreigners love to stay here.

clementi pawn shop

You can have fun and enjoy here whether you’ll stay for the meantime or for good. Explore the richness of nature in the district at Maju Forest and Clementi Forest. If you have a pet dog, create more bonding moments at Clementi Woods Park Dog Run and Glass Roasters. Then you can have memorabilia from Caricaturist.SG. It roves around carnivals and pop-up events. But you can find it in the NEWest Mall.

In addition, you may let go of your inner child quest at Wonderful World of Whimsy and Gamewerks. Afterwards, take the relaxing me-time you deserve at Syouji. Their whole body massage and foot reflexology are worth the price.

Beat the heat from exploring Clementi at MIXUE. It offers refreshing shakes, ice creams, and smoothies. But if you prefer some downtime, Sunset Way Coffee Shop, Balmoral Bakery, and Burnt Cones are excellent choices.

Among other things, Clementi takes pride in its legit pawn shops.

You can bring your prized possession for urgent financial needs here.
  • Cash Box Pawnshop Pte Ltd
  • Loong Shing Pawnshop Pte Ltd
  • Maxi-Cash Group Pte Ltd
  • MoneyMax Group Pte Lt

Pawn Shop Boon Lay

Boon Lay is within the Jurong West Planning Area. Its name was after Chew Boon Lay, one of the pioneers of extensive rubber plantations in the early 20th century. From being a large-scale industrial estate, Boon Lay developed into a housing estate. With this, many low-cost accommodations helped workers find a suitable place to stay.

Pawn Shop Boon Lay

The charming Boon Lay is packed with tourist destinations that even locals visit. For example, the Science Centre offers scientific and technological awareness and know-how. It houses innovation replicas, scientific instruments, models, and journals.

Meanwhile, Waterway Point is a mall with ample shops. Aside from buying various items you like, you can also try delicious food here. On top of that, you can enjoy watching a movie in the cinema hall.

Of course, you should not miss the most iconic resort in the country—Marina Bay Sands. It is an ideal destination if you are fond of luxury items and experiences. Plus, you get to see the stunning view of the entire city of Singapore.

Most importantly, Boon Lay serves residents with pawn shops you can trust. You can find the following within the district.

  • ValueMax Group Limited
  • MoneyMax Group Pte Ltd
  • Shing Heng Pte Ltd
  • Maxi-Cash Group Pte Lt

Jurong East Pawn Shop

Jurong East in western Singapore is a large yet quaint neighbourhood estate. It is famous for its exciting tourist attractions. If you and your friends plan to go here, you need an itinerary ready. Or else you might be overwhelmed by the various activities you can do.

Jurong East Pawn Shop

You must know what you want to do if it’s your first time in Jurong East. You can go to Westgate Shopping Mall or IMM Outlet Mall for shopping escapades.

If you prefer nature more, you can head to parks and gardens. These are the Japanese Garden, Singapore Botanic Garden, National Orchid Garden, Chinese Garden, and Jurong Bird Park.

If you want to learn more about culture and history, you can visit museums. Your options are the Lee Kong Chian Natural History Museum, the Science Centre, and The Live Turtle and Tortoise Museum.

Aside from entertainment, Jurong East offers pawn shops suitable for your urgent money needs. You can check the following.

  • MoneyMax Group Pte Ltd
  • Thai Shin Pawnshop Pte Ltd
  • Ban Yu Pawnshop Pte Ltd
  • Fund Express Pawnshop Pte Ltd
  • Maxi-Cash Group Pte Lt

How To Get An Instant Cash Loan From Pawn Shops

Pawn shops in Singapore offer a simple and hassle-free process of pawning. You can get your instant cash loans in minutes.

Jewelry-inspection

Who can pawn?

If you have a valuable possession and require quick cash, you can pawn it if you possess the following:

  • Your age must be at least 18 years old and above.
  • You must present identification. It can be your passport or a valid Singapore Identification Card. If you’re a foreigner, bring all your foreign documents for successful pawning.

What can you use to pawn?

A pawn shop in Singapore accepts any pledges you possess. It can be your branded watch, jewellery, or even gold.

Steps on how to pawn

If you want to succeed in getting quick cash from a pawn shop, you must follow these steps.

Step 1. Research is a must.

You can find various pawn shops in Singapore. Before you drop by any pawn shop, ensure you have done your part to search for the best and nearest to you.

Step 2. Visit the pawn shop.

Once you have chosen the most suitable pawn shop, visit them. Make sure to bring the requirements needed as well as your pawnable item.

Step 3. Get your valuable article quoted. 

As you present your item, the pawn shop expert will get it valued and quoted. This way, you will know how much you will receive for it.

Step 4. Receive your instant cash.

If you agree on the price of your item, you’ll get your cash immediately. Claim it together with your Pawn Ticket. Ensure your ticket reflects the value and weight of the item and loan amount. Also, ensure the pawn period shows six months from the day you pawn.

Step 5. Redeem your pledged item.

Getting your cash is still the beginning of your pawning journey. Of course, you still have to claim your article back. You can redeem it after you paid the principal and interest in full within six months. Or renew the loan by paying only the interest. Just be sure that you have the pawn ticket with you.

What is a Pawn Ticket?

A pawn ticket is like your Note of Contract. It contains vital information about the entire pawning process. It includes the following:

Item

It indicated that you had a precious article left in the pawn shop to pawn.

Pawner Details

It includes your personal information and contact information.

Pawning Date

It is the date when you applied for the pawn.

Expiry Date

It is the last day of the redemption period.

Pawn Amount

It is the approved loan amount of the pawnbroker for your item.

Interest Rate

It is the calculation between the amount of the pawn loan, the number of loan months, and 1.50% per month or part of the principal loan amount.

Here is the formula:

Interest Rate = (Pawn loan amount) x (Number of loan months) x 1.50%

Example Scenario:

You pledged your diamond earrings for SGD 500. The pawnshop offers a 3-month loan term with an interest rate of 1.5% monthly. The computation will be:

SGD 22.50 = (SGD 500 x 3 months) x 1.50%

If you pay in full on the first month, your total repayment is SGD 522.50. If you fail to repay in three months, the interest rate is multiplied by three months—4.50%. So you have to settle SGD 567.50.

Always remember to review your pawn ticket after receiving it. This way, you can correct any incorrect details about it.

Most importantly, always keep your ticket. Or else you have to say goodbye to your precious pawned article.

Quick Tips for Finding Legit Pawnbrokers

Pawning is a significant risk for you and your beloved pledged item. If you leave your valuables to fraud shops, you lose your prized article for life. That’s why it is crucial that you do your research beforehand. Here’s what you should do to ensure you are dealing with trusted pawn brokers.

Jewelries

Registered as a Licensed Pawn Shop in Singapore

For a safe and secure pawning transaction, check if your chosen pawn shop belongs to the list of Licensed Pawnbrokers in Singapore.

The Ministry of Law in Singapore implemented strict rules for pawn brokers to follow. One of these is acquiring a license before starting business operations.

Moreover, The Registry of Pawnbrokers has a Pawnbrokers Act regulating all licensed pawnshops in the country. It regularly conducts revisions based on the current needs and situation to enhance the pawning industry in Singapore.

Offers Different Redemption Options

A legit pawn shop in Singapore allows you to redeem your pledge after you present your pawn ticket and identification. Also, it offers you various means such as:

Full Redemption. It means you are ending the liability and obligation between you and the pawnbroker. You repay the principal loan and due interest in the total amount.

Partial Redemption. Partial withdrawal applies when your pledge consists of a few articles. It means you can redeem only a part of your pawned item. But it is only possible to repay a partial loan and interest due from the original principal loan amount. After you complete the partial redemption, the balance loan amount of your remaining pawned article is now a new pledge.

Renewal. You have no plans to withdraw your pawned item. You settle the interest payable. The pawn shop can extend your redemption period for another six months.

Partial Renewal. It comes into two sub-categories.

  1. You renew to extend your redemption period and reduce the loan amount. It is possible if you pay off the due interest on the principal loan and part of the original pawn amount. But remember, it still depends on the pawner’s discretion.
  2. You renew to extend your redemption period and request to increase the pawn amount. It is possible to pay off the principal loan’s due interest and acquire the additional balance from the increased loan amount. You can only increase the principal loan amount if you request to start your pawned article at a much lower value.

Various Modes of Service for Forfeiture Notice

Pawnbrokers Act 2015 has an under section 63(1) that tackles a notice of forfeiture. It must be served within two months from the redemption period expiration. Instead of the traditional method of services, the law added more means to contact you. It is to welcome the current digitisation. These are as follows.

Registered Post. Your home address will receive a forfeiture notice.

Email. Like before, you still get notified through the active email address you provided.

In-person. Your pawn shop will request your physical presence to inform you about your pawning status.

SMS. With the provided mobile number, you will receive a short message service from the pawnbroker.

Internet-based messaging tool. For better accessibility and communication, the pawnbroker will use your WhatsApp, Telegram, and other social networking sites. But don’t worry. They are only allowed to use it with your consent.

Taking out quick cash from a pawn shop in Singapore comes with a great risk of losing your beloved pledge. Fortunately, you can still have instant cash without collateral with Cash Mart. Its personal loans offer a low-interest rate, flexible terms, and payment schemes tailored to every borrower’s need. Check it out today!

Citibank Business Loans: Will it be beneficial for my business?

Citibank Business Loans

Getting A Citibank Business Loans Singapore

Business loans help business people in reaching their goals towards success. How is that?

There are many reasons why SMEs or even big companies take business loans. One of the reasons is business expansion. It’s one big leap your business can take, and it only shows that the company’s ready to take one step to level up. However, financially speaking, you need significant funds to fulfil that certain goal.

Not all businesses can afford to cover all the expenses of the said expansion project. And that’s when other businesses take business loans to support their financial needs. So the question is, where should they get a business loan?

In Singapore, Citibank leads when it comes to financial services. They provide loan products, including business loans, which can help you support your business’ expansion. Here, we’ll discuss details about what Citibank can help with business loans.

The Four Benefits Of Citibank Business Loan

Get extra funds

When you apply for a Business Loan, you can enjoy fast and easy access to cash. Instalment loans are one of the best options that Citi offers. You can withdraw it through a Citibank Ready Credit or Citibank Credit Card.

Citibank Business Loan Interest Rates

Interest Rates vary on the type of loan you will apply for. For example, getting a personal loan will give you a welcome offer of a 4.55% p.a. interest rate. However, the interest rates still vary depending on how long you want to pay back your loan. 

Remember that large institutions can blow up interest rates if you repay your loan for an extended time.

Convenient modes of payment

If you have an existing Citibank Credit Card, you can pay via FAST. These accounts are also qualified to receive payment from other participating banks and institutions. 

You can also access your other bank’s online platform via FAST. Instead of queuing to pay your bill, you pay it more conveniently. 

Get extra deals

You can get many deals when you apply for a loan. It is the strategy used by most banks. For example, Citi offers Grab Food vouchers for a certain cumulative loan amount. Check out the latest offers when you choose to apply for a loan.

Three Crucial Things You Must Do Before Getting a Citi Business Loan 

Everyone would want their businesses to grow and innovate. In this way, your business can stay relevant. 

A time will come when the company will need to expand to continue catering for the market’s needs. So here are some tips you might want to consider before getting a loan for your business.

Do ample research.

Consider all options when you look for a bank or an institution that will lend you money. For example, are you willing to pay hefty interest rates as long as the time for repayment is long? Then, you might as well check bigger banks and institutions for your choice of loan. 

Use the money wisely.

Getting a loan is not easy, though. You may want to maximize the loan by spending it on essential resources. For example, spend it to buy machines that can accommodate customers. Or you can use them to expand your business. 

Never use it to pay current expenses. Loans can run out if you do not spend them wisely.

Communicate with your business partners.

Make sure that your partners know every decision you make for the business. Getting a loan is a big step for your business. It could either make or break it. 

Inform your business partners about the pros and cons of getting a business loan. Everyone should agree that getting a business loan will help your business gradually. Discuss all the possible options available before getting a loan. By this, you can avoid any miscommunications. 

SME Financing Institutions in Singapore

Over 20 banks and financial institutions have SME loan product offerings.

Government financing schemes can be up to $1,000,000 with a maximum repayment period of up to five years. Note that the process of SME loan applications takes two to four weeks. 

Many financing institutions serve the SME Market. Some are Hong Leong Finance, Sing Investments, and other banks. These financial institutions are specialist lenders. They usually focus on equipment loans, which are categorized as asset-based lending. 

These financial institutions offer unsecured business-term loans with minimal interest rates. Interest rates range between 8-12% p.a. effective rate. For loans that involve revolving facilities, trade and factoring interest range between 6-9% effective rate. 

Interest rates vary between different banks and financial institutions. More often, interest rates are determined by the borrower’s credit profile. 

Documents needed for an SME financing application are slightly the same as the requirements required in banks. Some of the requirements include financial reports, bank statements, and the Director’s IC. 

Add to that is the Notice of Assessment and a brief write-up of the company’s information.

Is Citibank Business Loan worth considering?

Citibank Singapore started its business in 1902 and has represented almost every asset class. The bank is said to be Singapore’s most influential foreign banking employer.

Also, Citi Singapore is the home to Innovation Labs and the Asia Pacific Citi Service Centre. Throughout the years, the bank gained trust for the quality of financial products and services it offered to Singaporeans.

Citi has a wide variety of loan products, from personal loans to variety of business loans. Let’s take a look at the latter one.

CitiBusiness Unsecured Business Loan Singapore

All loans from various bank institutions have their pros and cons. Citi has a couple of products and services with long-term financing options. Citi’s financing schemes are suited for small to large businesses. 

Citibank is recognized as the Best Bank in Singapore. Citi also offers various business loans with up to four years of repayment terms. Also, you can take advantage of their low interest rates. It made them the most competitive banks in the business. 

CitiBusiness Unsecured Business Loan can finance from $50,000 with interest rates falling between 6.25% to 15%. But note that Citibank will require you to have a $750,000 annual turnover. You must also present your Bank Statement for the past six months. 

Citibank business loans might be the one that suits your needs. Yet, there are things you need to be mindful of about CitiBusiness. 

Citibank has a high set of standards regarding business loan approval. Thus, applicants must have excellent credit scores.

Another thing is that Citibank doesn’t offer the loan for business start-ups or new small businesses. That said, it makes borrower qualifications hard to meet.

Talking about such business loan products, Citibank surpassed other entities with its financial services. As a result, the company became the top pick for the best business loan in the country.

Citibank Business Loan’s minimum and maximum loan amount  

When you get a CitiBusiness Unsecured Business Loan, you can borrow at least $250,000 up to $350,000. 

If your annual income is S$120,000, you can borrow up to 8X your monthly income. Please note that this is also subject to the bank’s approval. Interest rates can also vary for each type of loan you apply to.

Other banks also have a wide range of loan options with flexible amounts to be borrowed. For example, CIMB, HSBC, Maybank and Standard Chartered can offer a maximum amount of S$ 1,000,000- 5,000,000. However, businesses must be registered and located in Singapore. 

Loan tenure is up to five years from approval. The amount to be borrowed still varies and is subject to the approval of the bank. 

If you do not need an enormous amount, OCBC and UOB offer business loans perfect for starting entrepreneurs. Businesses must be registered for at least six months and can borrow up to $100,000. Loan tenure is up to 3-4 years. 

Different payment terms when you get a Business Loan

When you get approved for a loan in Citibank, you have a couple of options when it comes to payment terms. One of the options is to choose a loan tenure of up to seven years

By selecting the seven-year loan term, you can enjoy lower monthly repayments. You can also calculate your monthly repayments with Citi’s business loan calculator on their website.

Yet, different banks offer different payment options. In addition, various business loans also have different tenure years. 

Do not be lured into longer years, as you may end up paying more than you borrowed. That is why you should take into consideration your choice of loan. 

Think about which loan will make you maximize your spending power. Longer terms of repayments can lead to long, awful years of debt.

Other Business Loan Options To Get in Singapore

As mentioned above, getting approved for a CitiBusiness Unsecured Business Loan won’t be easy. But there are still lots of options available in the market.

You can apply to licensed money lenders if you fail to meet Citibank’s qualifications. They offer various types of loans, including business loans. 

Moneylenders offer shorter repayment terms with interest rates, which I can say can compete in the market. To clarify, banks offer long-term loans, while moneylenders provide short-term loans. 

The existence of lending institutions helps those in dire need of money immediately. One advantage is that they do not have extra hidden charges.

But be careful of loan sharks, known as unlicensed moneylenders. If you want secured loan transactions, you can review the official list of licensed moneylenders in Singapore. 

All listed money lending entities abide by the Moneylenders Act. The Ministry of Law Singapore implemented such to regulate the finance industry. 

Choose a reliable money lending company. One you can consider is Cash Mart Singapore, which has been operating for more than 50 years! 

The company helped thousands of Singaporeans with instant cash loans. It could be either Business Loans or other low-interest personal loans

Business applications are fast, providing a smooth lending experience to borrowers! Visit Cash Mart Singapore now and discover more. 

Standard Chartered Business Loan: Is it helpful?

Standard Chartered Business Loan

Standard Chartered Business Loan: Is It Helpful?

Standard Chartered Bank Singapore Limited has been in the market for more than 150 years. The bank made history in the world’s most competitive markets, including Singapore. 

Standard Chartered has been part of an international banking group. The bank has this drive prosperity and commerce, which made it possible through its unique diversity. 

The brand promises heritage and values expressed at all times. Over 160 banking years in Singapore, SCBSL built an excellent reputation. 

They also obtained their Qualifying Full Bank (QFB) licence by October 1999. This licence is an endorsement of Standard Chartered’s time-honoured commitment to Singapore. 

Standard Chartered Business Loan

Things to do before getting a Business Loan

Getting a business loan is something you should plan. Such involves big decisions that can make or break your life. 

Securing capital for your business needs to have the proper preparation. Here is everything you need to know about business financing. 

Create a business plan. 

It will give you an edge if you come to a financial entity with a business plan. It is a great way to convince the lender and prove that you’re credible in running a business. 

It’s one way for lenders to identify your business skills and knowledge in doing business. Your business plan should include your business goals. 

Include also your Enterprise’s Revenue expenses, your competitors, and your Market analysis.

Make a smart and a little witty introduction to the lender. Let them feel your confidence and bold determination to run your business. It will give lenders a great impression. 

The Significance of financial statements. 

Submit and present a copy of financial statements. It must contain your business’ past financial information. 

Showing projected numbers can also help. That way, lenders can see your progress towards your goals. Doing so will let them know that you can make enough income and will be able to repay the lent money. 

Ensure to include the following financial statements for the past few years:

  • Income statements, 
  • Cash flow statements, and 
  • Balance statements.

And also, take into account how you will use the money you are borrowing. Also, include all the seasonal changes in your business. 

State the purpose and amount of the loan. 

Before taking up a business loan, make calculations of how much money you’ll be needing. If you can state your goals, it will be easier to explain what you need from the bank or licenced moneylenders. 

Put in place your marketing strategy and identify what pieces of equipment you will need. Find the best prices for each piece of equipment you will use. 

You can show your research to the moneylenders if you have. That’ll make them see that you are serious about taking this opportunity. 

Be aware of your personal credit history. 

Before you apply for a business loan, take a look at your personal credit history. Your personal credit history will be necessary. It’s vital, especially if your business can still build a credit history of its own. 

Banks should know that they are lending money to someone responsible for paying it back. That makes it essential for you to build up your personal credit history before applying for a loan. 

Also, that includes personal bank statements and tax returns for the last year. 

Take note of the cost of having a loan. 

Be aware of how long you will be able to pay your loan. Banks may offer longer payment terms. They’ll think about the interest rate you will pay if you opt for longer payment terms. 

These interest rates also blow up the longer it takes for you to pay back your loan. You can always look for licenced moneylenders. They, too, offering flexible payment terms with low-interest rates. 

Take note of interest rates to estimate your payments. Include all this information in your financial statements. Also, know all the terms and conditions attached to each loan. 

Know your collateral capacity before getting a loan.

Some money lenders will need you to list some of your assets and collateral. 

It would help if you listed down all possible asset. That is to determine if you have collateral when paying back your loan. 

Search for every borrowing option. 

Instead of falling for large banks, try to look into different credit unions first. They can also give you a significant chance of getting approved. 

You may be able to adjust your plans and have a lot of options, unlike large institutions.

Choosing Standard Chartered Business Instalment Loan to Support Your Enterprise

Standard Chartered Bank offers various types of financial services. That includes business loans in Singapore. 

Among all banks, Standard Chartered is one you can trust. Here’s what you need to know about Standard Chartered Business Loan Singapore.

Features of Standard Chartered Business Instalment Loan

Standard Chartered Business Loan Amount

Help grow your Enterprise with a Standard Chartered Business Loan. You can secure a loan from $70,000 up to $300,000. 

There’s no collateral needed when taking up a loan. But note that the loan amount approved will only be under the bank’s sole discretion. 

Business Instalment Loan Tenure

Choose your preferred repayment period ranging from 12 to 36 months. As mentioned, there’s no need for collateral. But note that the repayment period is subject to the bank’s sole discretion. 

Business Instalment Loan Interest Rates

The interest rate varies depending on how long you will repay your loan. Standard Chartered has competitive rates, starting at 3.48% per annum. 

You’ll get further details about the loan upon visiting the bank. Make sure to read the terms and conditions before signing an agreement.

Business Instalment Loan Repayment Plans

The bank will not need you to provide business financial statements. All you need is your company’s GST statements from the last four quarters. 

Also, provide Operating Bank statements from the previous six months. 

Standard Chartered Business Loan’s Eligibility

Any business can apply, from minor to medium enterprises. It could be either Sole Proprietors, Partnerships or Private Limited Companies.

Note that it should be a Singapore-registered business. Besides that, Singaporeans or Permanent Residents hold ownership of the company. Owners should have at least 50% of shareholdings. 

The company must operate for at least three years with at least $750,000 turnover. 

Standard Chartered Business Loan Application Process

You can visit the SCBSL website to access the business loan application. 

Go to Business Banking and look for the “Business Loans & Working Capital” button. Click it and proceed to “Business Instalment Loan.”

Once you’re on its product page, click the “Apply Now” button. Provide all needed information, and you’re on your way to getting your Business Loan. 

Standard Chartered Business Instalment Loan Charges and Other Fees

Get at least $70,000 up to $300,000 of loan, but note that there are some fees the bank might charge you. Fees and other charges may include the following:

  • Annual Fee: at least S$400 up to 2.00% of the approved loan amount. In the following years, it’ll cost S$100 per year.
  • Default Fee: It’s a charge for overdue instalments, costing $100. 

But note that a Board Rate of 10% p.a. adds on all your delinquent instalments until your loan’s maturity date. 

  • Board Rate Business Instalment Loan (BIL): 9% per annum 
  • Interest Rate: The Effective Interest Rate for each loan varies up to BIL Board Rate plus a 2% per annum ( at 11% p.a.). 
  • Special Requests (post loan disbursement): Costing S$250.
  • Prepayment Fee (partial payment): 3% per annum added to the loan sum. Be sure to inform the bank before one month via written notice. 
  • Redemption Fee (full repayment): 5% interest added to your outstanding loan. 

It varies if you redeem the loan amount within the first 12 months from your loan’s disbursement. 

Standard Chartered Business Loan Requirements

Prepare the Standard Chartered Business Loan documents required to submit. That includes the following:

  • A Photocopy of Sole Proprietors Identity Cards or Passports. 
  • A Photocopy of your IDs (under partnership/private limited companies)
  • Copy of company’s Goods and Services Tax statements for the previous four quarters
  • Submit the company’s current operating bank account for the last six months
  • An accomplished Business Instalment Loan Application form
  • A copy of the Sole Proprietors’ / Partners’ Income Tax Notice of Assessment
  • A copy of the Board of Directors’ resolution
  • Buying a car with Maybank car loan
  • A copy of Company Constitutional Documents (Memorandum and Articles of Association)
  • Submit a Professional Certificate (only if applicable)
  • Any papers related to the establishment of entity, identity and address proof documents

Conclusion

Before deciding on which loan to take, you should be cautious in getting loans. Interest rates vary and can be added in an instant. You might as well think and study about it. 

Many fees may add up if you choose to loan from larger institutions. But there are some options to that. You can always research licensed money lenders and their payment schemes. 

Moneylenders are financial entities under the Ministry of Law Singapore’s regulation. Such institutions offer various short-term instant cash loans

Plus, they offer a more comprehensive payment scheme with low-interest rates. That will maximise your spending power. 

High interest rates do not mean that you will pay more. In the long run, you will be able to save more money than going for lower interest rates to be paid for a very long period. 

Choosing a shorter repayment plan will be less of a burden. In a short period, you will be free from debt and loans. Always consider all options, as having a loan is a significant decision. 

Commonly Asked Question on HSBC Business Loan

HSBC Business Loan

Commonly Asked Questions in HSBC Business Loan

Throughout the years, HSBC has been serviced with a good reputation. It helped individuals, Small businesses, and highly limited companies in Singapore. So, if you’re a business person who seeks financial help to support your business, HSBC can help.

Here are the commonly asked questions about the HSBC Business Loan in Singapore. Read up and learn more about what HSBC can offer you on business loans.

conduct business meeting with HSBC business loan

How to use the HSBC loan calculator

The HSBC loan calculator is a helpful tool for getting figures about your loan. It is a quick and instant way to calculate figures. For example, you will enter your minimum gross annual income and values, such as interest rates.

Rates will be displayed by term or annually.

The loan calculator will also provide a summary of your repayments. Included is the maximum amount you can borrow and your total interest payable.

But take note that the calculation provided is for illustrative purposes only. It will give you an idea of how much you can borrow. You should not rely on this calculator solely. Always consult the bank before making individual decisions. Interest rates are also subject to change.

What is the interest rate for HSBC Business Loan?

HSBC offers Personal Loans and Investment Financing, which you can use for starting a business. HSBC offers low interest rates. You can loan up to 8 times your monthly income for personal loans.

You can also choose a fixed or flexible repayment system. Rates are affordable, but banks still have a higher interest rate than licensed money lenders. You can also access extra cash via debit card and online banking. The interest rate for Personal Loans is 3.4%.

For investment financing, you can maximise your financial flexibility. There are also no minimum monthly repayments. Repayments are flexible, but banks offer higher interest rates. For this type of loan, there is no minimum income requirement.

You can also have a 50% to 100% Maximum Advance Ratio. Maximum Advance Ratio is the maximum value percentage HSBC will lend you. It can be an attractive offer, but be mindful of the interest rates that may occur.

If you fail to pay your monthly repayments on time, your interest rates will get higher and higher. Longer repayment schemes will also cause you to pay a lot more money than your loan’s actual cost.

If you want to maximise your spending power, consider all the options in getting your Business loan. First, try looking for a licensed moneylender offering lower interest rates than banks. Then, you can look through the official list of Registry of Moneylenders in the Ministry of Law Singapore. All listed lenders abide by the Moneylenders Act, so you don’t have to worry about its legitimacy.

Things you need to know about monthly repayments

Your monthly repayment will depend on the approved amount of your loan. The outstanding balance of your loan will be the basis for the interest to be paid. It can be a little bit bigger as bank interest rates are higher. You’ll get your loan schedule and disclosure statement upon your loan drawdown.

Straight-Line Scheme

Several repayment methods are available in HSBC Business Loan, including the Straight-Line Scheme. HSBC uses such a scheme when calculating monthly amortisation. As a result, the monthly amortisation given to you will be fixed, allowing you to plan and manage your monthly cash flows.

Reducing Balance Scheme

In the Reducing Balance Scheme, you can get more savings on your interest payments. It is because the principal part of your payment is paid off faster at the earlier stages of your loan. You can also get more savings on your interest payment with this scheme.

Always remember that there is always a borrowing cost. The bank will always charge you the interest you pay for the loan. The interest will be higher if you pay your monthly repayments longer. So always consider the monthly payment of the line of credit before taking one.

Take note that you need to have a stable source of income. You should also have enough savings to finance the loan.

Also, failure to pay your loan can hurt your credit score. It will not help you if you plan on taking another loan. All you are doing is increasing your debt over the years, and that’ll not allow you to get your finances in order.

As much as possible, have some money set aside for the future. Whenever you have extra money, make sure to set it aside for emergency purposes.

If you want to start a business without using your savings, you can choose to get financial help from a reputable licensed moneylender. They, too, offer business loans with flexible payment terms like banks.

They also offer lower interest rates than most banks offer. Approval of loans is also effortless. You can apply within the day and get approved within a few hours.

What are the term loans for HSBC Business Loan?

With an HSBC business loan, you have options on how you can manage your repayments. Here is how.

HSBC Personal Line of Credit

You can choose to apply for an HSBC Personal Line of Credit. This personal line of credit has affordable interest rates as low as 12% annually.

Also, you can get a credit limit of up to $200,000 with flexible monthly repayments. You get quick access to cash through debit cards and internet banking. Interest rates are affordable.

But, there are still a lot of licensed moneylenders that offer lower interest rates. So, weigh your options before deciding which loan you would choose.

You must meet the following requirements to qualify for this Personal Line of Credit. Applicants must be at least 21 up to 65 years of age. Also, your annual income must be S$ 30,000 for salaried individuals.

For self-employed individuals, your minimum income must be S$40,000. But if you are a foreigner, you must have an employment pass with a minimum annual income of S$40,000. Furthermore, the said employment pass must be valid for at least six months.

Personal Line of Credit Balance Transfer

HSBC also offers a Personal Line of Credit Balance Transfer, offering two repayment periods. The two repayment periods are six months and 12 months. So again, you can choose which is more applicable to you. But be aware that the longer the repayment period, the higher the interest rates will be.

The Effective Interest Rate of this Personal Line of Credit is calculated based on an approved balance transfer. So, the interest rates are subject to change if the monthly dues are not paid in full.

HSBC also has a Personal Line of Credit Installment Plan. You can get an approved loan amount of $20,000.

HSBC will also offer a 1% cashback when you choose this option. This line of credit has interest rates as low as 3.4%. But if you fail to settle on the due date, it’ll blow up your repayments.

There are a couple of features and benefits offered by HSBC. You don’t need to submit any supporting documents. Also, you’ll get options for your fixed monthly repayments with a choice of tenor between one to seven years.

The available credit limit can be reinstated upon monthly payment. There is also a processing fee of 1%. Early repayment fees are also charged 2.5% of the redemption amount.

Starting a business is not an easy road. Remember that your first step is the most crucial part. Providing for your business fund must be thoroughly decided.

Consider every option offered by banks and licensed moneylenders. Be vigilant on fees written on the contract. Make sure that you understand all payment options before applying for a loan. It will help your business thrive and save you from having enormous amounts of debt.

Digital Banking: The paper-less way to do banking transactions

“Enough with the long queues and waiting time.”

Way before, we do banking transactions manually. For example, you go to the office and apply for a savings account. You talk with staff to guide you throughout the process. And so on.

But things nowadays are different. Corporations are transitioning to paperless work, where they do banking digitally. Instead of going to the bank’s physical office, you visit them through their website.

The process is still the same. However, the difference is that you don’t talk face-to-face with a bank’s staff. You only have to read instructions and follow them.

With this kind of technological advancement, things became more convenient. It’s not only banks that are adopting the digital platform.

Almost all entities, including reputable licensed moneylenders, are embracing such adaptation. You get to apply for an account or take instant cash loans like low-interest personal loans, which are so easy. Finish the process in less than 10 minutes.

Many are still hesitant about doing digital banking transactions. People fear that their data will leak and be used by illegal users. That said, the Ministry of Law Singapore (MinLaw) regulated the whole financial industry.

If you want to know if such a bank or money lending institution is legal, visit MinLaw’s site. But first, search for the official list of financial entities. It’s the easiest way to determine legal institutions.

All listed entity obeys the law. All data they get are under the protection of the government. So you do not need to doubt about doing bank transactions digitally.

Ready to leap into digital banking? All you need is a laptop, desktop, or even your mobile phone, plus an internet connection. That’s simple and easy!

10 Best Online Food Delivery Services in Singapore 2021

Best Online Food Delivery SG

Top 10 Online Food Delivery Services in Singapore 2021

So you’ve been feeling down since you are cooped up at home for a couple of months. A whiff of your fave food is a sure-fire way to get your mood ups. But though Phase 3 is just around the corner, most of us will surely still stay at home as much as possible. Fortunately, you won’t miss your favourite restaurants anymore. Online food delivery services can help you buy your meal while you stay comfortably at home. What you only need is your mobile phone, a laptop or desktop. Finally, once all is set, your meal is just one click away!

Let’s take a look at the best online food delivery services you can find here in Singapore.

Best Online Food Delivery Services Singapore

GrabFood

AMGD

WhyQ

Deliveroo

Grain

FoodPanda

Deliver.sg

Oddle Eats

Food Matters Singapore

Dine-In Movement: A Food Delivery Service For A Cause

GrabFood

grabfood singapore for online food delivery

Grab aims to help make life a bit easier – and it does! With GrabFood, you can get your meal – quick and easy! 

GrabFood partners with over 800 food and beverage establishments within Singapore. And that’s a lot of choices if you and your family have various cravings.

All you need to do is download the GrabFood App in the App Store for Apple users or the Play Store. 

Open the app and click on the “Food” section, then enter your delivery address. Select a restaurant, your chosen meal, and add it to your basket. Complete the order, and your food is on your way!

GrabFood Operating Hours

GrabFood is available as early as 7:00 am until 2:00 am. If you love pulling an all-nighter, you can enjoy their service when cravings hit you.

Online Delivery Fee

The price of the meal includes the delivery fee. The basis of the delivery fee is the distance between the provided address and the merchant’s location. 

How to Pay GrabFood

GrabFood encourages us to pay cashless via GrabPay. It is a mobile wallet where you can load any amount you want and use it every time you take an order through GrabFood. 

Additionally, you can also use it to pay for other Grab services like groceries, transportation, pay bills, and many more. 

GrabPay partnered with trusted e-payment companies and protected them with a 24/7 fraud detection engine. Free from hassle, isn’t it?

GrabFood Rewards

Every time you take an order, you’ll earn GrabRewards points, which you can use to redeem more goodies.

Website and Contact

You can visit Grab through their official website www.grab.com. You can find all the services offered by the company. 

If you have questions or inquiries, you can reach Grab through:

  • Customer support hotline +65 6902 1038
  • Help Centre 

AMGD

amgd singapore for online food delivery

Health-conscious?

Don’t worry, AMGD can give you a halal-certified and MSG-free menu. They commit to meet the needs of customers, primarily vegan and vegetarian people. You can try their immune support meals, keto meals, or low-carb and high protein foods. 

AMGD uses a pay-per-use-meal credit system where the customer will buy an AMGD Pass to purchase a meal. You can also have options to deliver it to your location or pick-up your orders in a specific place (AMGD’s pick-up points).

AMGD Operating Hours

AMGD is available from 9:00 am to 6:00 pm every weekday and 24/7 during weekends. On the other hand, the AMGD BOT on their website is open for queries Monday to Friday, 7:30 am to 7:00 pm.  

Please note that you have to place orders before 11:30 pm before the date of delivery. You can also place orders days or weeks before the delivery date.

Online Delivery Fee

AMGD’s single meal with Ala-Carte pass is worth $17 with a GOLD pass, and it costs $12 per meal. Note that the more AMGD passes you get, the lower the price you’ll get if you buy food.

The delivery fee of AMGD starts from $1.50 up to $5, depending on your location. However, you can get a free delivery service if you take orders above two (2) credits within the same area.

How to Pay

With AMGD, you have options to pay for your orders. You can link your Credit or Debit Cards to your AMGD account and use them to pay for your orders. 

Paypal is another way you can buy your meal. Lastly, you can opt to do a Bank or Wire Transfer as you pay.

Website and Contact

You can check more about the AMGD’s services and offers through their website www.amgd.sg. Or you can go to their FAQ section and get more information about their services. 

Customers like you can easily reach AMGD through their contact section. 

WhyQ

whyq singapore for online food delivery

Want some hawker foods? There’s no need to leave your home to get some. Hawkers are just at the tips of your finger! WhyQ App is available in both App Store (iOS) and Play Store (Android).

More than 2000 hawker food stalls are partnered with WhyQ and can deliver your fave food hawkers in your location efficiently. 

Delivery Fee

The cost will include the price of the meal plus the delivery charge. WhyQ would deliver and get your meals by noon if you ordered them by 10:30 in the morning. But if you ordered by 12:30 in the afternoon, WhyQ will have your food by 1:30 pm.

WhyQ doesn’t require any minimum order. You will only pay for the delivery charge of S$1.50 per meal. 

How to Pay

With WhyQ, you can pay for your meals by using a credit or debit card. If the payment is made directly to WhyQ’s service, they will forward it subsequently to the partner food stall. Meaning, their partner food stalls authorize WhyQ to accept payments on their behalf.

Website and Contact

Visit WhyQ through their site www.whyq.sg to get more information about their services. 

If something’s unclear, you can reach them through their customer hotline +65 69142673 or send them an email at contactus@whyq.sg.

WhyQ Rewards

Get free delivery when you ordered more than $35! You can choose discounts and other promotions from different merchants. Redeem vouchers and enjoy promos for up to 50% off!

Deliveroo

Deliveroo singapore

Deliveroo is the best user-friendly food delivery platform in Singapore founded by William Shu.

Its service is not limited to one country. For instance, their service span across the Netherlands, France, Ireland, Belgium, Italy, and many more. Deliveroo expanded its services to two hundred locations, including the mentioned places. 

Ordering foods with Deliveroo is effortless. That is to say, you can order through their website or use their mobile app available for iOS and Android users. 

You can easily find great restaurants within your area by adding your postcode. Click on your desired food and place your order. The restaurant will prepare your food and notify you if your order is ready to pick up to bring it to your location.

You can even take orders in advance and schedule when you want the delivery. 

Deliveroo Operating Hours

Deliveroo services are open from 7 am to 2 am. Similarly, you can make an advance order with scheduled delivery. Meanwhile, do take note that Deliveroo depends on the opening times of their partnered restaurants. You can check the availability of the merchant on Deliveroo’s homepage or app. 

Delivery Fee

There’s no minimum order required in Deliveroo. However, there’s a small order fee (applied to small orders). 

If you ordered a meal less than the restaurant’s minimum, it would cost you a small order fee. If you want to remove the cost, add more meals to your basket. 

Delivery fees will depend on your location. The closer you are to the merchant or restaurant, the lower the delivery fee you will pay. For instance, in case the merchant uses their delivery service, they will set their delivery fee. 

How to Pay

Delivery only allows card payments to create a safer environment for riders. But you can tip your rider in cash if you’d like to. 

Website and contact

To view more details, you can go to Deliveroo’s website deliveroo.com.sg or reach them through deliveroo.com.sg/contact.

For more clarification or inquiries, you can send Deliveroo an email and send it to support@deliveroo.com.sg.

Deliveroo Rewards

Get vouchers and enjoy promos from Deliveroo! You can redeem vouchers through the app or website. If you want to use it, simply login to your account and add the voucher code into the “Enter a Promo Code” field. You can add the voucher code on the checkout page if you use it via the website. 

Grain

grain singapore for online food delivery

If you’re looking for halal-certified cuisine, Grain will be your best option! 

The Grain is a MUIS halal-certified establishment offering meals on-demand like the Power-Up Chicken Salad or your favourite Feta Fusilli All’Amatriciana. You can also try their bundles and seasonal cuisine. Available as well are the meal plans that suit your lifestyle with a price that starts at $9.95 per main. 

Taking orders from Grain is pretty straightforward – choose the food you want and place your order. After the food’s preparation, the Grain team will notify you once they deliver it to your location. 

Grain Operating Hours

Take note that Grain opens from 10:30 am to 2:30 pm during Lunchtime. Dinner begins from 5:30 pm to 8:15 pm.

Delivery Fees

There’s a required minimum order of $10 if you take orders from Grain. But you can avail of free delivery if you choose to pick up your order at Food points.

If you want to deliver it right to your doorstep, the delivery cost depends on the delivery distance. 

For instance, you took an order worth $25. In that case, it will cost you a delivery fee of $5.50 (based on a five-kilometre delivery distance). But if you took $50 worth of meals, the delivery fee will only be $3.

Note that 20% of the meal’s price will serve as the Grain’s courier’s wages.

The delivery timeframe for on-demand meals will be 30 to 60 minutes, depending on the distance. 

The delivery hours for lunch orders are between 11:00 am to 1:00 pm. For dinner, it is from 5:30 pm to 7:30 pm.

How to Pay

Options for payment available in Grain are credit Cards, cheques, bank transfers, or PayNow. You will receive payment details once all your orders are confirmed. 

Website and Contact

Browse and see all the available menus through www.grain.com.sg. Please note that menus are always changing. If you need more information, you can reach them through their contact team at www.grain.com.sg/contact. Or you can choose to email them at hello@grainl.com.sg.

Grain Rewards

Just put this in your mind: the more meals you order from Grain, the greater your chance of receiving an award!

Yes, you read it right! You have the chance to receive gifts from Grain. How does it work?

  • Bronze Spoons Reward – Get a chance to enjoy a $2 promo code if you take three meals in a month.
  • Silver Forks Reward – Get a $4 promo code if you order six meals in a month.
  • Gold Knives Reward – Enjoy a $6 promo code if you take ten meals in a month.
  • Jade Chopsticks Reward – Order 16 meals a month with Grain and enjoy a $10 promo code.

Note that rewards have an expiration.

FoodPanda

foodpanda singapore

FoodPanda is one of the popular online food delivery services. It’s a fun, fast, and fuss-free platform to use connected to thousands of local restaurants. 

In Singapore, FoodPanda connects with 350 restaurants. This way, you’ll find plenty of options of where and what to order for you and your family.

FoodPanda Operating hours 

FoodPanda Delivery service is open for 24 hours. But note that some restaurants are unavailable for late-night deliveries. You can check it out through the app, whether the restaurant is available for late-night deliveries or not. 

Delivery Fee

The cost of orders depends on the restaurant you choose to buy from. The delivery fee depends typically on the delivery distance.

But some stores are offering a free delivery service. You can use the app to filter restaurants by selecting the “Free Delivery” icon. 

Also, note that FoodPanda has a minimum order. If you want to take orders below the minimum order value, you’ll pay the difference. 

How to Pay

FoodPanda accepts COD types of payment and online payments. Using online payments, you choose either credit or debit cards or PayPal. The payment methods for each restaurant are visible on the restaurant info page, which you can use as your reference. 

Website and Contact

Take orders from FoodPanda through their website by simply logging in through www.foodpanda.sg. You don’t need to create a new account by logging into their site. Just choose either you use your Facebook account or email. 

On the other hand, if you want to make it easier, download FoodPanda’s App in the App Store or Play Store. It’s free, and everything’s at your fingertips!

If you have concerns about their service, you can reach them through this site: www.foodpanda.sg/contents/contact.htm.

Deliver.sg

deliver.sg for online food delivery

Established by Food and Beverages (F&B) Industry and Maxima Logistics Pte Ltd., Deliver.sg aims to bring restaurants closer to customers. The team can deliver the food efficiently to off-locations and make every customer happy and satisfied with the food they want. 

Deliver.sg Operating Hours

The first pick-up in Deliver.sg is scheduled every 10 am, while the last pick-up will be 10 pm. 

However, Deliver.sg aims to extend their delivery hours. They are working on it so they can provide services to deliver breakfasts and late-night suppers. 

Deliver.sg are providing their delivery services across Singapore EXCEPT Jurong Islands and other restricted areas.

Delivery Fee

There’s no minimum order to Deliver.sg so you can take whatever food you want. However, you have to pay for the delivery cost that is calculated based on the delivery distance.

How to Pay

Deliver.sg only accept payment through credit or debit cards. 

Website and Contact

Browse and discover more through their site www.deliver.sg/en/. It’s easy to use the Deliver.sg platform. You can choose from a restaurant listed on the platform, place your order and pay. 

After your food’s preparation, the delivery service will pick it up from the restaurant and deliver it to your provided address.

If you have more concerns, you can send them an email at hello@deliver.sg. You can also reach them through their customer hotline: +65 9673 6653.

Oddle Eats

oddle eats

Hungry no more with this superb online food delivery! It’s a community under Oddle where almost 1,500 eateries in Singapore alone connect with Oddle Eats. It also expanded its services to the regions of Hong Kong, Malaysia, and Taiwan.

What you’ll love with Oddle Eats is you can create your food playlist. There’s no way you can forget where to order your favourite foods for your future meals with Oddle Eats. 

All you have to do is click and order to your chosen restaurant, place the order and pay. If you have plans to have a private feast with your family, you can take orders from Oddle Eats, select the date when you want it and have it delivered to your doorsteps. 

Oddle Eats Operating Hours

Oddle Eats does not manage the operations of the food and beverage merchants. Thus, the operating hours will depend on the certain eatery you choose to order.

Delivery Fee

Oddle Eats uniquely charge a flat 10% commission fee for online sales.

How to Pay

You can only pay your deliveries depending on what payment methods are available to a merchant you are buying.

Website and Contact

Order your love foods on www.eats.oddle.me. You can choose from Christmas Bundles to celebrate or discover great deals in UOB Recommends and Discover with UOB. Could it be meals or desserts, you can have it in Oddle Eats!

If you have further questions about Oddle Eats services, such as delivery costs, you can directly email them through discover-eats@oddle.me or call via customer hotline +65 6717 1291.

Food Matters Singapore

Health Food Matters Singapore

Being stuck at home can sometimes make you crave foods you’re often buying. But what if you’re suffering from swallowing problems (dysphagia). This problem is common to elderlies. But can sometimes affect young adults. This is what Health Food Matters considering today, providing foods for such individuals.

Health Food Matters is offering meals following the IDDSI Framework. You can choose from Delisoft meals and pick what best suits you or for your love one who has dysphagia.

Health Food Matters Operating Hours

Feel free to order from Health Food Matters every Monday to Friday. They have two (2) time slots within a day from 10:00 a.m. to 12 noon, and 2:00 p.m. to 4:00 p.m. Please take note that Health Food Matters is on a first-come-first-served basis.

Delivery Fee

Health Food Matters has a flat shipping rate of $7 per order. But you can enjoy a FREE delivery fee if you take an order worth $70.

Or, you can opt to pick up your orders from their showroom located at 16 Woodlands Terrace, Singapore 738441. You can simply contact them through their customer hotline at 62502129.

How to Pay

Health Food Matters only accept credit and debit cards for payments of online food delivery.

Website and Contact

Take orders online from Health Food Matters through their site www.healthfoodmatters.com.sg. If you have further concerns, you reach them by sending an email to info@healthfoodmatters.com.sg. Or you can call them through their telephone hotline 62502129.

Dine-In Movement: A Food Delivery Service For A Cause

Dine In Movement Singapore

During this pandemic crisis, we lived life differently and couldn’t do things that we usually do. And dining out is one of them. It greatly affected people who work in the F&B industry. 

Dine-In Movement (DIM) is a different online delivery platform formed to help both the Food and Beverage Industry and the people working in these merchants get through COVID-19. DIM was created by the Dandy Collection which owns and operates Neon Pigeon, Fat Prince and summerlong. It is a 100% non-profit platform connected with F&B merchants where all delivery profits will directly go to the restaurant chosen. 

Dine In Movement

DIM Operating Hours and Delivery Fees

DIM does not manage any of the restaurants connected with them. Thus, the delivery fee and operating hours depend on your chosen restaurant. You can try checking it through the merchant’s site to enjoy online food delivery. Just search in through DIM’s website where you want to take an order, and you’ll be directed to the restaurant’s website.

Payment Methods

You can pay your orders depending on what payment scheme is available to your chosen merchant.

Website and Contact Number

You can visit DIM through www.dineinmovement.com and tap on to your desired restaurant. Pick what you want to eat, and let them bring it to your location. If you have further concerns, reach them through www.dineinmovement.com/contact

The Trend of Online Food Delivery Services

Things are evolving in this new normal lifestyle. But still, businesses are looking for innovative ways to provide convenience during these hard times. One of these is the services of Online Food Delivery. Buying foods without leaving your home can help you save time and energy while lowering health risks. Everything’s all literally at your fingertips!

Instead of taking the time to go out and wait in the queue, you can spend more time on other valuable activities, like your work, your school project, or family bonding. And you won’t get exposed to the threat of coronavirus during this pandemic. You keep yourself and your family at home and make use of the time to have fun together.

There are a lot of delivery services offered city-wide but not all have Singapore’s Finest services. Choose the one that best fits your needs and cravings. Among our top food delivery service providers which one do you love the most?

Feel free to share what you think down in the comment section.

Is UOB Business Loan Singapore the Best Option

UOB Business Loan Singapore

Is UOB Business Loan Singapore the Best Option?

Are you a business owner in dire need of help funding your business? 

You just came into the right place! 

It pains when your business is financially struggling. It is good that there are business loans like UOB Business Loans. However, you need to know more about it before you start your loan application.  

Table of Contents

Getting a Business Loan in Singapore

It’s a fact that managing a business’s operations, especially in the financial aspect, is very tricky. It needs extra care, and bold decisions have to be made. 

Is your business currently facing difficulties in funding your operations? 

If so, you might be considering applying for a business loan to support the financing of the business. Most business owners do it in case they cannot find an investor. 

If you are new to business loans, you better know what it is and how it works. Why? It is to know the risks you and your business may carry along the way. 

What is a business loan, anyway?

The definition of a business loan is money lent by a financial institution with the sole purpose of funding business expenses. 

The borrower will repay the fund with interest by following the loan’s terms and conditions. 

How will a business loan support my business?

You can use the borrowed money to help fund your business operations. To give you a clearer scenario, here are the most common reasons why business owners get such a loan: 

Business Expansion

If you see great potential growth in your business, you can invest in expanding. But remember that it costs you money. That might include advertising costs, renovations, an increase in staff, etc. 

You don’t have to use up your funds. Simply apply for a business loan and use it to cover the expenses. 

Business Inventory

It’s important to invest in your products before customers can buy them. Then, afterwards, you can offset your costs. 

This will help meet the demands of your customers. At the same time, your business can offer better options. 

But you can get a business loan if you do not have enough cash to offset your inventory expenses. This way, it won’t affect the funds. 

Business Cash Flow 

business cash flow to get a business loan

Unsold inventories mean it wasn’t converted into cash yet. And that affects the cash flow. Thus, it’ll be a problem if you have regular operational costs. For example, inventory, staff, utilities, rent, and/or mortgages.

On the other hand, with a short-term loan, you can stay away from difficulties. This is because the business loan will help you cover your operational costs. At the same time, especially when the business earns a low profit. 

You can still bring in customers and earn revenue. Slowly, your business can make up for the losses. 

Note: Lenders are evaluating the business’ history and financial status. It is to ensure if the business can pay for the loan or not. 

Moreover, in the case of start-up businesses, lenders consider them as “risky” borrowers. As a result, they often get rejected in applying for traditional business loans. 

Where can I apply for a business loan in Singapore?

It’s best to apply for a business loan from a trusted financial institution. 

Several banks offer business loans. However, these banks offer such financial services with different terms and conditions. 

One of the best local banks in Singapore to consider applying for business loans is UOB. 

United Overseas Bank (UOB) was one of the safest banks in Asia in 2019.

United Overseas Bank (UOB) Singapore

Apply for UOB Business Loan Singapore

UOB (United Overseas Banks) has been in service for 80 years. And it is making its name stand out in the financial industry. 

The institution paved the way to become a leading bank in Asia. This is because of being innovative in financial products and providing genuine services. 

UOB even received a series of accolades and awards in the industry. It is even known as the Best SME Bank in Asia. This proves the credibility of the financial institution.

UOB Business Loan Singapore

There are two schemes that you can apply under UOB Business Loans services. The Enhanced Working Capital Loan and the Temporary Bridging Loan schemes.

UOB offers these services under the Enterprise Financing Schemes of Enterprise Singapore. 

UOB Business Loan is only applicable to local businesses in Singapore. However, it’s an alternative way to support the business’s funds, especially during these pandemic times. 

UOB Business Loans in Singapore

Enhanced Working Capital and Temporary Bridging Loan Scheme

A business’s downfall is usually due to mismanagement. And that will greatly affect the business’ working capital, resulting in a negative state. 

To help aid this kind of scenario, you can apply to the Enhanced Working Capital Scheme or Temporary Bridging Loan Scheme.

Under enhanced working capital, you can secure your financing up to $1 million. There’s no collateral required, and you can repay the loan within five years. 

The Temporary Bridging Loan scheme applies to all businesses. You don’t need to pledge any asset upon application. You can get a one-day response rate, which can be repaid in a fixed five-year term. 

UOB Enhanced Working Capital and Temporary Bridging Loan Eligibility 

The following are the criteria before getting access to a business loan scheme:

  • Local enterprises include Sole Proprietor, Partnership, or Private Limited Company

  • The company must be at least three (3) years in business

  • The local company must be registered and operating in Singapore. 

  • It should at least have a 30% local shareholding. 

  • The group’s annual sales of a local enterprise should be less than or equal to $100m. Or it has a group employment size of less than or equal to 200. The computation for annual sales and employment size is on a group basis.**

**Only applicable for SME Working Capital Loan Scheme

UOB Business Loans Application

Firstly, save time applying for UOB Business Loans with MyInfo Business! 

All you need is your CorpPass and SingPass login credentials. Secondly, take advantage of its flexibility. This applies to Singaporean and PR Business Owners, Partners, and Directors. 

Frequently Asked Questions on UOB Business Loans

How can I reach UOB if I face problems with my business loan application? 

You can reach UOB through their Help and Support System: 

  • You can call them through the business banking hotline: 6259 8188
  • Request a Callback
  • Go to Branch Online Services

How much will the monthly instalments be?

UOB has a Loan Installment Calculator feature that a potential borrower can use. Therefore, you can use it to find out how much will be your estimated monthly instalments. 

What is Enterprise Singapore?

Enterprise Singapore is a government agency. It works with reputable, committed companies to build capabilities, innovate, and internationalize. 

In addition to that, the agency supports Singapore’s hub for global trading and startups. It builds trust in Singapore’s products. And it provides services and continues to deliver them in absolute quality. 

What is an Enterprise Financing Scheme?

Enterprise Financing Schemes (EFS) is under Enterprise Singapore. It covers six areas to help address the local enterprises’ financing needs: 

  • SME Working Capital Loan
  • SME Fixed Assets Loan
  • Venture Debt Loan
  • Trade Loan
  • Project Loan
  • Mergers and Acquisitions Loan

Note: If a business can’t pay the debts owed to the bank under Participating Financial Institution, Enterprise Singapore will share the loan’s default risk.

Final Say

In conclusion, obstacles are real and are all part of nature. Unfortunately, we can’t do anything about that. But we can control how we face and respond to difficulties a business encounters. 

Getting a business loan in UOB will help support your business’s finances. 

But if you’re still in doubt and want to know more about SME financing solutions, you can speak to UOB’s SME loan specialists.

Moreover, if you’re looking for a more flexible business loan product to help finance your business, Cash Mart can help you. Cash Mart is a licensed moneylender in Singapore, providing financial products and services for years. No assets are needed to be pledged, and expect a fast approval of your loan application.