MoneyMax is one of the three big pawnshop-and-jewellery chains in Singapore, alongside ValueMax and Maxi-Cash, and it does four very different things under one roof: it pawns your gold and watches for cash, buys gold and luxury items outright, sells new and pre-loved jewellery, and trades in designer bags. The part most people search for is the pawn loan, where the interest is capped by law at 1.5% per month or part thereof, with a 1% first-month promotion on pledges from S$750 (as of June 2026). The part most people get wrong is the buyback: when MoneyMax buys your gold, you get the second-hand resale rate, not the retail price you paid. This guide gives the real 2026 numbers for each service and the fine print that decides whether MoneyMax is the cheapest option or an expensive one.
MoneyMax Financial Services was incorporated in 2008, listed on the SGX Catalist board in 2013, and moved up to the SGX Mainboard in 2026 under the ticker MFSL. It runs over 110 stores across Singapore and Malaysia, with roughly 51 outlets in Singapore as of early 2026, which makes it one of the most accessible chains for a walk-in cash transaction.
The business is wider than a classic pawnshop. You can pawn an item and keep ownership, sell it outright for cash, buy new 999 or 916 gold and branded jewellery, or trade in a luxury bag or watch. There is also a leasing arm for car and property financing. For a borrower, the two decisions that matter are whether to pawn (keep the item, pay interest) or sell (lose the item, take more cash), and we walk through both below.
Every licensed pawnbroker in Singapore is bound by the same legal ceiling: a maximum of 1.5% per month, or part of a month, on the loan amount, set by the Pawnbrokers Act 2015 and policed by the Registry of Pawnbrokers under the Ministry of Law. MoneyMax cannot legally charge more than that, and neither can ValueMax or Maxi-Cash, so the headline rate is the same across all three.
Where MoneyMax competes is the promotion. It runs a 1% first-month interest rate on pledges from S$750 (as of June 2026), and the same 1% applies on monthly renewals if you keep the loan rolling on time; let it lapse and it reverts to the 1.5% cap. The phrase "or part thereof" is the trap: borrow even one day into a new month and the whole month's interest applies, so timing your redemption to the renewal date is where you save real money. We compare this against every other legal borrowing route in our guide to small loans in Singapore.
| Scenario | Month 1 | Months 2-3 each | Total after 3 months | Item at risk |
|---|---|---|---|---|
| 1% first-month promo (then renewed at 1%) | S$10 | S$10 | S$30 | Yes - your pledge |
| 1% first month, reverts to 1.5% | S$10 | S$15 | S$40 | Yes - your pledge |
| Legal cap (1.5% throughout) | S$15 | S$15 | S$45 | Yes - your pledge |
Pawn interest is simple, not compounding. It is charged on the original loan each month, not on a growing balance. Borrow S$3,000 at the 1.5% cap and you owe S$45 a month flat, so three months costs S$135 on top of the S$3,000. Across a full six-month term at the cap, total interest works out to 9% of what you borrowed. The maths is identical at any licensed shop because the cap is the law, not a marketing choice.
Whether you pawn or sell, MoneyMax pays the second-hand resale value, not the retail price. There is no statutory loan-to-value ratio and the chains do not publish a fixed percentage, so the offer is at the valuer's discretion based on precious metal content, quality and condition. In practice you can expect roughly 60% to 80% of resale value, because the shop needs a margin to cover its risk and the cost of reselling a forfeited item.
Gold is the cleanest case because it is bought largely on weight and purity. As a reference, ValueMax quoted a Singapore gold price of around S$239 per gram for 999 (24K) gold and S$224 per gram for 916 (22K) gold on 24 June 2026; MoneyMax and Maxi-Cash track the same international spot price and publish their own daily figures. A 916 chain therefore fetches close to its melt value regardless of brand, while a luxury watch or diamond is valued on resale demand, so a Rolex with box and papers loans far better than the same model without them. If you are weighing selling outright against pawning, our guide to gold in Singapore explains how gold value is set and where the spreads sit.
All three are licensed, SGX-linked chains bound by the same 1.5% cap, the same six-month rule and the same forfeiture protections, so the legal floor is identical. The differences are at the margins: outlet count, the size of the first-month promo, the minimum pledge to qualify, and how strong their retail and trade-in arms are.
Treat the table below as a starting point, not gospel - promotions and minimums change, so confirm the current terms at the counter before you commit. For a wider view of how a pawn loan stacks up against banks, cards and licensed moneylenders, see our licensed moneylender guide.
| Chain | Legal interest cap | First-month promo | SGX-listed | Also does |
|---|---|---|---|---|
| MoneyMax | 1.5% / month | 1% from S$750 pledge | Yes (MFSL) | Retail gold, luxury trade-in, leasing |
| ValueMax | 1.5% / month | Promo varies | Yes | Retail gold, gold trading |
| Maxi-Cash | 1.5% / month | Promo varies | Yes | Retail gold, secured loans |
Every MoneyMax pawn ticket runs for six months from the day you pawn. Inside that window you can redeem in full, partially redeem, or renew - renewing pays the accrued interest and starts a fresh six-month term, so the item keeps sitting safely with the shop. Keep renewing on time and you can hold a pledge for years.
Miss the window and the rules tighten. Since 1 April 2015, unredeemed pledges are forfeited, not auctioned - a change from the old auction system. After the term lapses, the pawnbroker serves a Notice of Forfeiture and you get a further period (30 days after the notice under the association's rules) to redeem before the item becomes the pawnbroker's absolute property. Once forfeited it is gone, there is no surplus paid to you, and you cannot buy it back as a customer. That makes sentimental jewellery a poor pledge.
Losing the ticket does not lose the item. You apply for a replacement at the same MoneyMax outlet by proving you are entitled to redeem, typically with your identity document and the pledge details. A S$10 processing fee applies for each pawn ticket replacement, and there is a S$2 admin fee per pawn ticket issued where cashless payment is offered (as of June 2026).
You must be at least 18 and bring a valid identity document - your NRIC, or a passport and pass for foreigners. MoneyMax verifies your identity against the pledge to deter stolen goods, which is why the transaction is on the record even though a pawn loan never touches your credit file. There is no income test and no minimum loan; the amount is whatever your item supports. Because the loan is secured by the item and not your income, there is no credit check and nothing is reported to the Credit Bureau either way - useful to know if you are also tracking your standing in our credit score guide.
MoneyMax has moved to cashless redemption: its e-Services app takes payments via PayNow or debit card, and credit cards are generally not accepted for redemption, so plan to pay from cash or a bank balance. Before you commit, model whether the borrow actually fits your month in the budget calculator, and sanity-check your wider position with the financial health calculator.
A MoneyMax pawn loan makes sense when you own a real asset, need cash fast, and are confident you can redeem it inside the term. At the 1% first-month rate it is cheaper than a credit card cash advance (around 26-28% per annum plus a fee) and far below a licensed moneylender's 4%-a-month cap, and it never dents your credit. The worst case is losing an item you chose to risk, rather than facing collections.
It is the wrong move when the item matters to you more than the cash, when you are not sure you can redeem it, or when the offer is only 60-70% of what the piece is worth and selling outright would raise more. And if you are reaching for a pawn loan to service other debt, the real problem is the debt load - look at consolidation in our debt consolidation guide before you start pawning what you own. Whichever route you pick, only ever deal with a shop licensed by the Registry of Pawnbrokers, and walk away from anyone quoting a rate above 1.5% a month or refusing a proper pawn ticket.
MoneyMax charges the legal maximum of 1.5% per month, or part of a month, on the loan amount, under the Pawnbrokers Act 2015. It runs a 1% first-month promotion on pledges from S$750, and the 1% can apply on on-time monthly renewals too (as of June 2026). Across a full six-month term at the 1.5% cap, total interest comes to about 9% of what you borrowed.
MoneyMax pays the second-hand resale value, not the retail price you paid, with no statutory loan-to-value ratio - so the offer is at the valuer's discretion based on weight, purity and condition. In practice expect roughly 60% to 80% of resale value. Gold tracks the daily Singapore gold price, which was around S$239 per gram for 999 gold and S$224 for 916 gold on 24 June 2026 as a reference.
Pawning is a loan: you keep ownership, pay 1-1.5% monthly interest, and redeem the item within six months. Selling is outright: you take more cash now but lose the item permanently. Selling usually nets more than the pawn loan amount on the same piece, so choose pawning only if you genuinely want the item back and can redeem it in time.
No. A pawn loan is secured by the item you pledge, not your income or credit history, so there is no credit check when you borrow and nothing is reported to the Credit Bureau either way. If you never redeem, the shop simply keeps the item and the loan ends - it does not appear as a default and no collections agency pursues you for a shortfall.
Yes. MoneyMax Financial Services is licensed by the Registry of Pawnbrokers under the Ministry of Law and listed on the SGX Mainboard (ticker MFSL), operating over 110 stores across Singapore and Malaysia. A licensed shop is bound by the 1.5% monthly cap, the six-month redemption rule and the post-2015 forfeiture protections, and must issue a proper pawn ticket stating the item, weight, loan and expiry.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.