MAS-SFA-AMTD
Business Growth Grant

To foster the continued growth of Singapore-based FinTech companies and help the companies offset their POC costs. FinTechs must register and complete their profile on APIX, as well as carry out their POCs with any ASEAN based Financial Institution on APIX to be eligible for this grant

Financial Sector Technology and Innovation (FSTI)
Digital Acceleration Grant (DAG)

The MAS Financial Sector Technology and Innovation (FSTI) Digital Acceleration Grant (DAG) scheme supports Singapore-based smaller financial institutions and FinTech firms adopt digital solutions to improve productivity, strengthen operational resilience, manage risks better, and serve customers better.

WHICH AREA DO YOU NEED HELP WITH?

Manpower & Supporting Workforce

MAS-SFA-AMTD Business Growth Grant


To foster the continued growth of Singapore-based FinTech companies and help the companies offset their POC costs. FinTechs must register and complete their profile on APIX, as well as carry out their POCs with any ASEAN based Financial Institution on APIX to be eligible for this grant

The Grant will help the FinTechs manage their cashflow better, support them in generating new businesses, and provide greater support for FinTechs to pursue growth strategies.


Cap of up to S$100,000 Per FinTech (Wage Support, Professional Services, Hardware & Software, Interns)

Application Closing on 31st December 2021

Finance Associate Management Scheme (FAMS)


MAS will double the salary support for FIs to hire SC fresh graduates or workers from other sectors and place them in talent development programmes under the Finance Associate Management Scheme (FAMS).

FAMS is a talent development tool to help groom Singaporeans for future specialist and management roles in the financial services industry through structured programmes offered by FIs


  • Grant amount of S$2,000 per month for every Singapore citizen hired onto the programme
    • This is applicable for cohorts hired in CY2020 and CY2021, and for applications submitted from 8 April 2020.
  • For programmes with elements of international exposure, S$5,000 per month or part thereof will be provided for the duration of the overseas attachment/posting (if applicable) for every Singapore citizen
  • Funding amount is capped at 2 years per programme

Ongoing

e2i Candidate Matching for your hiring needs


Fully funded recruitment services for companies. Provide targeted candidate matching and candidate referrals

Further support companies in onboarding new hires through placement programmes with salary and training support.

Including: Place and Train (PNT) |Professional Conversion Programme (PCP)| Career Support Programme (CSP)


Please refer to Website for more details

Ongoing

Training Allowance Grant (TAG)


MAS will launch a new Training Allowance Grant (TAG) to encourage FIs and FinTech firms to make use of the downtime in business activity, to train and deepen the capabilities of their employees.

The TAG will also be available to support Singapore Citizens (SCs) and Permanent Residents (PRs) outside of the financial services and FinTech sectors.


  • Course fee subsidy of 90% for SC/PR under IBF-Standards & Financial Training Schemes.
  • Training Allowance Grant (TAG) @ $15/hr for employers that send SC/PR for training.
  • Training Allowance Grant (TAG) @ $10/hr for self-employed and unemployed

Ongoing

Jobs Support Scheme


Under the JSS, the Government will help employers by paying 75% Wage Subsidy capped at first $4,600 for April salary, 25% for the rest of the months for every local worker in employment, for 9 months

Employers will receive three main JSS payouts in Apr, Jul and Oct 2020, with an additional payout in May 2020. The level of support each employer will receive depends on the sector in which the employer operates.

To support firms during the circuit breaker period, wage support for the months of Apr and May 2020 will be topped-up to 75% for all firms, regardless of sector.


Up to 75% of wages for first S$4,600 of wages, for April and May 2020. Future months based on specific industries

No Application Required

Enhanced Support for Training


The support package includes:

a. Enhanced Course Fee Subsidy and Expansion of Training Scheme to Eligible FinTech firm and Single-Family Offices

b. New Training Allowance Grant (TAG)

c. Doubling of monthly salary support under the Finance Associate Management Scheme (FAMS)


  • Course fee subsidies for IBF-STS and FTS programmes raised to 90% until 31 December 2021
    Additional IBF Credit of 5% to offset course fees until 31 December 2020
  • Grant cap per participant per course: S$7,000 for IBF-STS, and Grant Cap of S$2,000 for FTS.
  • Company-sponsored individuals (SC/PRs) pay net course fees.

Ongoing

Place and Train Programme (PNT)


A placement programme to support companies in hiring and training local non-PMETs in relevant skills to take on new job position(s) and be deployment ready.

Pre-approval is needed for the programme before hiring takes place.


Up to 70% of monthly salary, capped at $12,000 per hire

Ongoing

Wage Credit Scheme


Through the Wage Credit Scheme, the Government provides businesses with co-funding support for wage increases made to their employees. This would allow businesses to free up resources to invest in productivity, and to share productivity gains with their employees. 


  • 20% of qualifying wage increases in 2019
  • 15% of qualifying wage increases in 2020

By End June 2020 for 2019 wage payouts, and supplementary payouts thereafter

Manpower Training


SkillsFuture Singapore (SSG) provides course fee subsidies and absentee payroll for a wide range of approved courses to support employers in sending their employees for training.

In view of the worsening COVID-19 situation and the increasingly uncertain economic outlook, SSG will further enhance training support measures to provide greater help to companies.


Please refer to Website for more details

Ongoing

Salary Support for Recent Graduates


SGUnited Traineeships Programme provides 80% co-funding of training allowance for recent graduates from ITE, Polytechnics and Universities.


Please refer to Website for more details

Ongoing

Startup Talent Factory


Startup Talent Factory offers up to $12,000 salary subsidy grant for new and existing poly grad hires


Up to S$12,000 subsidy for new and existing poly grad hires

Ongoing

Professional Conversion Programme (PCP)


A placement programme to support companies in hiring and training of new hires (Professionals, managers, executives and technicians) to move across industries or redeployed into new job roles e.g. into accountancy.

Pre-approval is needed for the programme before hiring/ redeployment takes place.


Up to 70% of monthly salary, capped at $16,000 per hire

Ongoing

Career Support Programme


The Career Support Programme (CSP) is a salary support programme offered by Workforce Singapore (WSG) and the Employment and Employability Institute (NTUC’s e2i) to encourage employers to hire eligible Singapore Citizen Professionals, Managers, Executives and Technicians (PMETs).

As part of the Adapt and Grow initiative to help Singapore Citizens adapt to changing job demands and enhance their employability, the CSP will be extended for two (2) years.


Up to $42,000 salary support for hiring eligible Singapore Citizens.

1 Apr 2019 to 31 Mar 2021

Enhanced Hiring Incentive


Employers who hire workers through reskilling or training programmes will receive additional salary support.


Please refer to Website for more details

Ongoing

Enhanced Training Support for SMEs


Enhanced funding available for SMEs to send their employees for training. Enhanced Training Support Package and Enhanced Absentee Payroll

Companies in selected sectors that are directly and critically impacted by COVID-19 are eligible for enhanced Absentee Payroll at 90% of hourly basic salary, capped at $10 per hour, and enhanced Course Fee support at up to 90% of course fees.


Please refer to Website for more details

Ongoing

P-Max


The P-Max Programme is a Place-and-Train programme that aims to help SMEs better match, recruit, train, and manage suitable job-seeking PMEs.


Please refer to Website for more details

Ongoing

SME Talent Programme for Startups


Up to 70% funding support to help you defray the cost of the monthly stipend when you engage students through internships


Please refer to Website for more details

Ongoing

Professional Conversion Programmes


Professional Conversion Programmes (PCPs) help jobseekers to reskill and take on new jobs. Some PCPs include salary support for jobseekers who remain unemployed after completing the programme.


Up to 70% course fees support for industry recognized and accredited training programmes

Ongoing

Rank-and-File Place-and-Train Programmes for Employers


Programmes with training and salary support to help individuals to reskill and take on new or enhanced job roles.


Please refer to Website for more details

Ongoing

SkillsFuture Enterprise Credit


SkillsFuture Enterprise Credit provides eligible employers with a one-off $10,000 credit to undertake enterprise and workforce transformation initiatives in tandem.


Please refer to Website for more details

Ongoing

Job Support Scheme


25% of wages until August 2020. The JSS will provide wage support to employers, helping enterprises retain their local employees (Singapore Citizens and Permanent Residents) during this period of economic uncertainty.


Please refer to Website for more details

Ongoing

NETF Collaborative Fund


A training grant for Unionised Companies to defray their cost of training when they send staff who are union members for trainings that promotes employability enhancement.


Company Funding Support:

  • $50,000 per eligible unionized company (application before 31 Dec 2020)
  • NETF co-fund & support 50% course fees for unionized companies (capped at $250/member/year) who met the eligibility criteria 

Ongoing

Business Cost & Managing Cash Flow

MAS-SFA-AMTD Business Growth Grant


To foster the continued growth of Singapore-based FinTech companies and help the companies offset their POC costs. FinTechs must register and complete their profile on APIX, as well as carry out their POCs with any ASEAN based Financial Institution on APIX to be eligible for this grant

The Grant will help the FinTechs manage their cashflow better, support them in generating new businesses, and provide greater support for FinTechs to pursue growth strategies.


Cap of up to S$100,000 Per FinTech (Wage Support, Professional Services, Hardware & Software, Interns)

Application Closing on 31st December 2021

Financial Sector Technology and Innovation (FSTI) Digital Acceleration Grant (DAG)


The MAS Financial Sector Technology and Innovation (FSTI) Digital Acceleration Grant (DAG) scheme supports Singapore-based smaller financial institutions and FinTech firms adopt digital solutions to improve productivity, strengthen operational resilience, manage risks better, and serve customers better.


  • 80% co-funding of qualifying expenses for applications submitted by 31 Dec 2021.
  • 70% co-funding will apply thereafter.

Ongoing

Deferment of Income Tax Payments


All companies with CIT payments due in the months of April, May, and June 2020 will be granted an automatic three-month deferment of these payments. The CIT payments deferred from April, May, and June 2020 will instead be collected in July, August, and September 2020 respectively


Automatic Deferment, no actions needed

April, May, June 2020

Assistance with Insurance Premium Payment


Corporates, including SMEs, holding general insurance policies that protect their business and property risks may apply to their insurer for instalment payment plans.

General insurance companies stand ready to work with their corporate customers so they can pay their premiums in smaller amounts and enjoy coverage for the paid-up period, instead of paying a lump sum premium for the entire policy period at the start


SMEs should contact their Insurers directly for more information on their specific assistance schemes

Ongoing

Temporary Bridging Loan Programme (TBLP)


The Temporary Bridging Loan Programme (TBLP) provides access to working capital for business needs.

As announced at Solidarity Budget 2020, eligible enterprises may borrow up to $5 million under the TBLP, with the interest rate capped at 5% p.a., from Participating Financial Institutions (PFIs). The Government will provide 90% risk-share on these loans for new applications initiated from 8 April until 31 March 2021. 

Eligible enterprises under the TBLP may also apply for up to 1 year deferral of principal repayment to help manage their debt, subject to assessment by the PFIs.


Maximum Loan Quantum of S$5 million per Borrower Group, capped at an interest rate of 5% p.a.

March 2020 to 31 March 2021

Defer Payment of Principal on Secured SME Loans


SMEs may opt to defer principal payments on their secured term loans up to 31 December 2020, subject to banks’ and finance companies’ assessment of the quality of the SMEs’ security.  SMEs will also be able to extend the tenure of their loans by up to the corresponding principal deferment period if they wish. This relief will be available to SMEs that continue to pay interest and are in good standing with their banks and finance companies (not more than 90 days past due as of 6 April 2020)


Up to S$1,000,000 per Borrower, over a maximum repayment period of 5 years

Up to 31st December 2020

Offset Rental Costs


Discounts on leases in specific venus will be available for FinTechs to make use of.


  • 50% discount for new leases for FinTechs at Bridge+ 
  • Temporary rental relief for existing tenants at 80RR FinTech Hub SG

Ongoing

Sustaining Investments

AMTD ASEAN Solidarity Fund $50 Mil- Sustainability Investment Scheme


This funding is intended for longer term support in the form of equity, convertible notes and/ or venture debt type of investments.

Under the investment scheme, AMTD will provide matching opportunities to FinTechs by co-investing alongside identified investment partners.

The Fund welcomes partnerships with existing equity and venture debt investors across Asia and calls for the broader investment community to collaborate and empower the level of support from this scheme


  • Equity, convertible notes and/or venture debt matching
  • Scheme will co-invest alongside identified investment partners
    All applicants must be located in ASEAN and fully on-boarded members of APIX
  • Due Dilligence will be conducted by the fund manager together with the identified partners or accredited investors

Ongoing

Razer Direct Investment $50 Mil


Singapore FinTech Association (SFA) and Razer Fintech will provide fintech companies in Singapore bridge financing, equity or equity-linked instruments ranging from US$100,000 to US$1.5 million (S$143,000 to S$2.1 million). The final sum depends on the fintech company's stage of growth and business requirements.

SFA Fintech Certified Members can apply through the SFA - Razer Collaboration Program 


US$100,000 to US$1,000,000 per investment

Ongoing

Bolstering Sales

Financial Sector Technology and Innovation (FSTI) Proof-of-Concept (POC) Scheme


The MAS Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) scheme provides funding support for experimentation, development and dissemination of nascent innovative technologies in the financial services sector. The FSTI scheme is valid till June 2020. 


Up to 70% of qualifying costs (dependent on project type), capped at $200,000, for up to 18 months

FSTI Scheme is valid to June 2020

Productivity Solutions Grant


The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.

PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries.

Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.


  • The maximum funding support level will be raised to 80% from 1 April 2020 to 31 December 2020.
  • Registered and operating in Singapore
  • Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
  • Have a minimum of 30% local shareholding (for selected solutions only)

Ongoing

Enterprise Development Grant


The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars: Core Capabilities, Innovation and Productivity, and Market Access.


  • As announced at Supplementary Budget 2020, the maximum support level will be raised to 80% from 1 April 2020 to 31 December 2020.
  • Be registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Be in a financially viable position to start and complete the project

Ongoing

APIX Cares


In support of APIX Cares, the Monetary Authority of Singapore (MAS) will provide all Singapore-based FinTech firms six months’ free access to APIX.

Through APIX, FinTech firms and FIs can integrate and test solutions via our cloud-based architecture. Existing Singapore-based FinTechs that are commercially onboard APIX will also have their subscription extended until 31 December 2020


Free 6 months access to the APIX platform 

Sign up on the APIX platform by 31st December 2020

Training Grants & Programme

Self-Sponsored Training


Find out more about Course Fee Funding and the eligible programmes that qualify.


Please refer to Website for more details

Ongoing

Enhanced Training Support Package and Enhanced Absentee Payroll


The Enhanced Training Support Package seeks to help companies in selected sectors tide over the economic impact of COVID-19. They are eligible for enhanced Absentee Payroll at 90% of hourly basic salary, capped at $10 per hour, and enhanced Course Fee support at up to 90% of course fees.


Please refer to Website for more details

Ongoing

NTUC-Education and Training Fund


Union Training Assistance Programme (UTAP) UTAP for Online/Blended Courses by Institutes of Higher Learning


Please refer to Website for more details

Ongoing

Employability Workshops and Skills Upgrading


Equip yourself with relevant and essential skills to stay ahead. Enhance and expand your skillsets to advance your job search.


Please refer to Website for more details

Ongoing

UTAP (Union Training Assistance Programme (UTAP)


UTAP is a training benefit for NTUC members to defray their cost of training. This benefit is to encourage more union members to go for skills upgrading. Union members can tap on more than 2,800 training courses to enjoy course fee subsidy, capped at a maximum of $250 per year, under the Union Training Assistance Programme (UTAP) supported by the NETF.


Please refer to Website for more details

Ongoing

Career Starter Programme for Fresh Graduates


A resource guide that contains information on the suite of job search services and programmes  such as the MyCareersFuture.sg job portal, and career tips that can guide you in your job search.


Please refer to Website for more details

Ongoing

Career Support Programme


A programme that offers suitable job opportunities to mature-age Singaporean PMETs.


Please refer to Website for more details

Ongoing

Career Trial


A structured on-the-job training programme where Singaporeans can enjoy Training Allowance and Retention Incentive to encourage them to reskill, take on new jobs, and stay on the job.


Please refer to Website for more details

Ongoing

Education and Career Guidance


Trained ECG counsellors will help students make informed education and career choices. Working adults can benefit from a wide range of services at WSG’s network of career centres, including employability skills workshops and networking sessions.


Please refer to Website for more details

Ongoing

Enhanced Internships


An internship programme for students to learn through work assignments and industry exposure to deepen and apply both technical and soft skills.


Please refer to Website for more details

Ongoing

Career Coaching


Meet e2i’s employability coaches to identify your career interests, your key strengths, skills sets to enhance, and equip yourself with relevant market information to support your job search.


Please refer to Website for more details

Ongoing

NUS-FinTechSG Programme


The NUS FinTechSG Programme is a traineeship program designed to enhance the competitiveness of the Singapore FinTech Industry. The program is jointly developed by National University Singapore (NUS) School of Computing (SoC) and AI Singapore, in consultation with experts in innovation and FinTech from UBS Bank, ATOS, RIPPLE, World Economic Forum, Bank of New York Mellon.


Please refer to Website for more details

Ongoing

IBF Careers Connect


IBF Careers Connect offers a one-stop career advisory service to individuals in the financial industry.

These services are available to Singapore Citizens and Permanent Residents who are existing financial professionals or those who are making a career switch to the financial industry. 

We provide personalized career coaching, job search skills workshops and access to networking events.

To meet with a career adviser, please email [email protected]


Please refer to Website for more details

Ongoing

SGUnited Traineeships Programme for Trainees


The SGUnited Traineeships Programme aims to support those who have recently graduated or will soon be graduating from the Institute of Technical Education (ITE), Polytechnics, Universities and other private educational institutions in 2019 or 2020, to take up traineeship opportunities across various sectors. This includes those who graduated from the above institutions and recently completed National Service in 2019/2020.

These traineeships will help graduates develop their skills professionally even during the current economic climate. With a duration of up to 12 months, these traineeships will equip young locals with valuable industry experience and allow them to gain a firmer foothold in the job market during the economic recovery.


Please refer to Website for more details

Ongoing

Looking for Additional SME Resources?

Find and apply for available government help for businesses

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