With a good reputation among existing customers that we have surveyed, the LoanGuide.sg team highly believes that ValueMax Pawnshop is the currently the best pawnshop in Singapore.
Their valuations for jewellery and watches are especially high. The ongoing 1% interest promotion is also very attractive. It is also fairly easy to extend your loan with them based on past customer experience. Above all, most of their stores are highly-accessible.
However, do note that ValueMax pawnshops are generally crowded on weekdays (especially main branch). Therefore, if you wish to visit, we suggest you to use their online valuation tool and make an appointment with them.
Maxi-Cash Pawnshop is a fairly new pawnshop chain that had only started its operations in 2009. Seen a lot of "leng-luis" promoting their pre-loved items online? That's how they present themselves as a young and modern pawnshop.
Nevertheless, the pawnshop chain is famous for its high valuations for gold items. Therefore, do check them out if you would like to pawn gold. Overall, their customer service is above average.
One of the weaknesses about Maxi-Cash Pawnshops are the prices they offer for timepieces and pens. Their valuation for these items are below average.
In short, do visit them if you are pawning gold items. With that being said, you could check out the "leng-luis" at their homepage!
MoneyMax Pawnshop is a fairly unique pawnshop chain as it focuses on luxury bags. It has its own online botique selling pre-loved handbags at a competitive price.
With that being said, MoneyMax is the to-go pawnshop if you are looking to pawn luxury bags of any sorts. Do check out the banner on their homepage too for regular promotions. Click this link to their website.
Nevertheless, our team found that some of their locations are not very accessible without public transport. Do also take note that the valuation are average for other pawn items.
CashBox Pawnshop is a subsidiary of Woodlands Transport Services (largest private transport corporation in SG). This gives it a strong financial backing and trustworthiness. It offers 1% loans for the first month, with the subsequent months at an average of 1.5%.
CashBox also owns 4 other pawnshop brands including Marsiling, Thye Joo and Thye Eik. Nevertheless, the operating hours of each outlet differs so do check it at their website before going there.
Fund Express has a total of 6 branches located at Balestier, Bukit Merah, Jurong East, Jurong West, Tampines, and Teka. However, it would be hard to search for their locations as they use multiple Facebook profile pages instead of a centralized website.
This pawnshop has particularly high valuations if you are looking to pawn 18K and 22K grade gold. It also has its own in-house pre-loved goods dealing. Nevertheless, it is not open on Sundays and only opens until 2pm on Saturdays.
Soon Yi Pawnshop has branches in Woodlands and Jurong West Street. One major advantage of this pawnshop is that it opens daily from 8:30am to 8pm. Furthermore, pledged items could be redeemed within 4 months if you have excess cash.
It values gold using the spot price of the day. However, this pawnshop accepts mainly gold and luxury watches only.
Something For You...
Pawnshops, otherwise known as pawnbrokers, have are businesses that offer secured loans for individuals in need of urgent cash using personal properties especially jewelries, gold, silver and more. These items are pawned for a certain amount of funds which are to be repaid within the contractual period.
Once the agreed loan amount and interest rate is paid in full upon or before the contract period, the item pawned may be redeemed. However, if the loan is not paid within the agreed period of time, the item could then be sold by the pawnshop to their customers.
Since the pawnshop could possess the pawned item and recoup a defaulted loan by selling it, they do not report the loan defaulted on their client's credit report. Some pawnshops outright buys the items from the clients who do not want a loan and agrees to the sale price. This is not recommended as clients may only get 60-70% of the true resell value of the items.
NOTE: All pawnshops in Singapore have to abide by the Pawnbroker Acts and Rules set up by the Ministry of Law.
With this, our passionate team from LoanGuide.sg regularly reviews pawnshops in Singapore to determine the top pawnshops based on a strict set of standards. We follow high ethical guidelines and ensure that you would get the best recommendation without having to spend much time doing research.
The top 3 pawnbrokers are ranked on a monthly basis based on a number of factors including, but not limited to, customer service, store locations, pawn value offered, loan flexibility and more. We at LoanGuide.sg are confident that the recommendations would serve your best interest and save you valuable time from doing research on each pawnshop.
If you do not have collateral to be pawned, you could also check out the top 3 licensed money lenders in Singapore here!
© 2019, LoanGuide.sg. All Rights Reserved.
LoanGuide.sg is a loan directory for loan providers in Singapore. We do not represent any particular loan provider. We do not provide loans. Rest assured, we would recommend you the best banks, licensed money lenders and pawnshops.