OVERVIEW
Internship Track
The Internship Track under the Polytechnic Talent for Finance Scheme aims to equip polytechnic students with skillsets to be job-ready, with success to be demonstrated by eventual hiring by the host FI upon graduation.
eligible criteria
Singapore Citizens or PR
Financial Institutions based in Singapore [1].
Singapore Citizen Graduate with Internship
Eligible programme participants must be Singapore citizens (SCs) who have completed an internship with the host FI as student of a polytechnic[2], and have accepted a job offer (whether contract[3] or permanent) with the host FI no later than 3 months after graduation from the polytechnic.
Programme Start Deadline
Only SC hires will be supported.
Funding SUPPORT
IBF Internship Funding Support
Eligible financial institutions may receive funding support for qualifying polytechnic interns.
TRAINING COURSE
Internship Programme
ELIGIBLE INDIVIDUALS
Singapore Citizen polytechnic interns hired by the host FI within 3 months of graduation
FUNDING AMOUNT FOR DIRECT TRAINING COSTS
80% of monthly internship stipend, capped at $1,000 per month, for up to 12 months.
Subject to the fulfilment of all eligibility criteria, funding for approved claims will be disbursed on a reimbursement basis, after the participant accepts the job offer.
FIs are required to submit the claim application within three months of the participant’s acceptance of the job offer. If you have met the eligibility requirements, please download the claims form from the resources section and send the completed form via FormSG for our evaluation. For late submissions, the applicant bears the risk of no funding.
The applicant is to ensure that the documents and information submitted are true, accurate and complete and maintain proper, accurate and complete records of all data, documents and information relating to the claim. IBF may request for additional information to support its evaluation of the claim application.
Accept the Job Offer
Funding claims can only proceed after the participant accepts the job offer with the financial institution and meets all eligibility requirements.
Download the Claims Form
If eligible, download the official claims form from the Resources section and prepare the required supporting information.
Submit via FormSG
Send the completed claims form through FormSG for IBF’s evaluation.
Submit Within 3 Months
Financial institutions must submit the claim within 3 months of the participant accepting the job offer. Late submissions may result in no funding approval.
download resources here
[1] Entities regulated by the Monetary Authority of Singapore (either licensed, approved, registered or recognised; or exempted from being licensed, approved, registered or recognised), as listed on MAS FI Directory.
[2] Refers to the following polytechnics: Nanyang Polytechnic (NYP), Ngee Ann Polytechnic (NP), Republic Polytechnic (RP), Singapore Polytechnic (SP); or Temasek Polytechnic (TP).
[3] For contract role, the minimum contract duration must be one year.
Got a question? Get your answer
Unsure about Funding & Schemes? We’re here to answer!